• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
Ethereum Price

Ethereum Price Bearish Signal: ETH Below 100 SMA Could Trigger Downside

Aayush Jindal by Aayush Jindal
5 months ago
in ETH
Reading Time: 2 mins read

Ethereum is facing resistance above $1,220 against the US Dollar. ETH could start another decline if it fails to stay above $1,200 and the 100 hourly SMA.

  • Ethereum started an upside correction above the $1,180 resistance zone.
  • The price is now trading above $1,200 and the 100 hourly simple moving average.
  • There is a short-term contracting triangle with resistance near $1,220 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start another upward move if there is a wave above the $1,220 resistance.

Ethereum Price Eyes Recovery

Ethereum price found support near the $1,150 zone and started a recovery wave. ETH was able to clear the $1,180 and $1,190 levels. The price even climbed above the $1,200 level and the 100 hourly simple moving average, similar to bitcoin.

A high was formed near $1,230 before the price started a consolidation phase. Ether price is now trading near the 23.6% Fib retracement level of the recent increase from the $1,150 swing low to $1,230 high.

The price is now trading above $1,200 and the 100 hourly simple moving average. There is also a short-term contracting triangle with resistance near $1,220 on the hourly chart of ETH/USD. The first major resistance is near the $1,220 level.

Ethereum Price

Source: ETHUSD on TradingView.com

A clear upside break above the $1,220 resistance and then a move above the $1,230 level could initiate a decent increase. The next major resistance could be $1,260. If the bulls clear the $1,260 resistance, the price might rise towards $1,300. Any more gains might send the price towards the $1,350 resistance zone. An intermediate resistance could be near the $1,320 level.

Fresh Drop in ETH?

If ethereum fails to climb above the $1,220 resistance, it could start another bearish wave. An initial support on the downside is near the $1,200 level.

The next major support is near the $1,190 level or the 50% Fib retracement level of the recent increase from the $1,150 swing low to $1,230 high. A clear downside break below $1,190 might push the price lower towards the $1,150 support. Any more losses could lead the price towards the $1,100 support.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 level.

Major Support Level – $1,190

Major Resistance Level – $1,220

Tags: ETHethereumethusdETHUSDT
Tweet123Share196ShareSend
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist. He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer. He also founded an IT company and works rigorously in providing high-quality software services. Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets. Follow him on Twitter @AayushJs.

Related Posts

Ethereum

Ethereum Price Gearing For Another Lift-Off to $2K: Recovery Isn’t Over Yet

15 hours ago
Ethereum Price

Ethereum Price Could See “Liftoff” If ETH Clears This Resistance

4 days ago
Ethereum Price

Ethereum Price Plunges Again: Start of Another Decline Or Buying Opportunity

5 days ago
Ethereum Price

Ethereum Price Trims Gains and Could Revisit Key Range Support

6 days ago
Ethereum

Ethereum Price Sees Bullish Breakout And Why Dips Turn Attractive

7 days ago
Ethereum

Ethereum Price Remains Range Bound As Bulls Await The Next Major Move

1 week ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Bware Labs Launches $INFRA Token, making high API...

    2 hours ago
  • Is InQubeta the Best Utility Crypto of 2023? Huge Growth...

    5 hours ago
  • Coinbase launches campaign to educate public on blockchain...

    6 hours ago
  • Utility Coins like Avorak AI will always outperform memes...

    6 hours ago
  • Expect Tremendous Returns for DigiToads (TOADS), Near...

    6 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.