• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis ETH

TA: Ethereum Struggles Near $1,100, Why Dips Could Be Limited Below $950

Aayush Jindal by Aayush Jindal
2 weeks ago
in ETH
Reading Time: 2min read
Ethereum
Advertisement
Nexo Logo
Listen to Article

Ethereum corrected lower sharply from a new all-time high at $1,166 against the US Dollar. ETH price remained well bid near $900 and it is currently showing signs of a fresh increase.

  • Ethereum rallied significantly and traded to a new all-time high at $1,160 before correcting lower.
  • The price is now consolidating above $900 and it is well above the 100 hourly simple moving average.
  • There is a key bullish trend line forming with support near $980 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to resume higher as long as there is no close below $975 and $950.

Ethereum Price Remains Elevated

There was a strong surge in Ethereum above the $900 and $1,000 levels. ETH price broke the $1,100 level and settled well above the 100 hourly simple moving average. A new multi-month high was formed near $1,160 before the price corrected lower sharply.

There was a 20% decline in the price below $1,100. Ether price even spiked below the $1,000 and $900 levels. A low was formed near $889 before the price started a fresh increase.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The price climbed higher above the $1,000 and $1,100 levels. However, the bulls struggled to gain momentum above $1,120 and $1,130 levels. A high is formed near $1,135 and the price is again declining. It broke the $1,050 support level.

Ethereum Price

Source: ETHUSD on TradingView.com

There was a break below the 50% Fib retracement level of the recent wave from the $889 swing low to $1,135 high. On the downside, there is a strong support forming near the $980 and $950 levels. There is also a key bullish trend line forming with support near $980 on the hourly chart of ETH/USD.

The trend line is close to the 61.8% Fib retracement level of the recent wave from the $889 swing low to $1,135 high. On the upside, the price is facing hurdles near $1,050 and $1,080. The main resistance is now forming near $1,120, above which ether price might rally significantly.

More Downsides in ETH?

If ethereum fails to clear the $1,080 and $1,120 resistance levels, it could correct lower. An initial support on the downside is near the trend line at $980.

A downside break below the trend line support might lead ether price towards the $950 support zone. Any more losses may possibly call for a push towards the $900 level and the 100 hourly SMA in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is showing a few bearish signs.

Hourly RSI – The RSI for ETH/USD is currently close to the 50 level.

Major Support Level – $980

Major Resistance Level – $1,120

Tags: ethereumethusdETHUSDT
TweetShare
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Ethereum

TA: Ethereum Corrects Lower, Why Dips In ETH Remain Attractive

1 hour ago
ethereum open interest all time high record

Ethereum Open Interest Reaches All-Time High Alongside Record Breaking Rally

11 hours ago
Ethereum

TA: Ethereum Smashes Key Resistance: Why ETH Could Rally To New ATH

1 day ago
Ethereum

TA: Ethereum Steadies Above $1,150: Why ETH Could Outperform BTC

2 days ago
Ethereum

Ethereum is About to Flip a Key Resistance Level into Support; New Highs Imminent?

2 days ago
Ethereum

Ethereum is On the Brink of Setting Fresh All-Time Highs as Bulls Take Control

3 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

The Foundation for Economic Education Announces Two Major Gifts from Bitcoin.com Founder Roger Ver

January 19, 2021

AC Milan to Join Sports Crypto Movement With Launch of $ACM Fan Token

January 19, 2021

Institutional-grade Crypto Exchange AAX Reports Record Fiat-Crypto Purchases in 2021

January 19, 2021

Newsletter Signup


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.

COMPANY

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

Technical Analysis

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

LINKS

Auto Trading Software ▸

Cryptocurrency news

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

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 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.