• 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
    • 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
    • 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

Ethereum Price Analysis: Dips In ETH Remain Attractive

Aayush Jindal by Aayush Jindal
2 years ago
in Technical analysis
Reading Time: 2min read
technical analysis ethereum
Advertisement
Listen to Article
  • ETH price extended gains and traded above the $118 and $120 resistance levels against the US Dollar.
  • There was a break above a major bearish trend line with resistance near $117 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair traded towards the $125 resistance and later corrected lower towards $120.

Ethereum price is placed nicely in an uptrend against the US Dollar and bitcoin. ETH/USD could correct a few points, but dips remain attractive in the near term near $116.

Ethereum Price Analysis

In the weekly analysis, we discussed the chances of more gains above $120 in ETH price against the US Dollar. The ETH/USD pair corrected a few points, found support near the $115 level, and finally bounced back. It gained pace above the $116 and $118 resistance levels. Buyers were successful in clearing the key $120 resistance to set the pace for a new monthly high. More importantly, the price stayed well above the $114 support and the 100 hourly simple moving average.

During the rise, there was a break above a major bearish trend line with resistance near $117 on the hourly chart of ETH/USD. The pair broke the $122 swing high and traded to a new monthly high at $125. Later, there was a sharp downside correction below the $122 level. The price traded below the 50% Fib retracement level of the last wave from the $114 low to $125 high. However, the previous resistance near the $120 level acted as a support. Besides, the 61.8% Fib retracement level of the last wave from the $114 low to $125 high prevented losses. At the outset, the price is slightly bearish and it could correct further towards the $116 level.

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

Ethereum Price Analysis ETH Chart

Looking at the chart, ETH price is still placed nicely above the $116 and $114 support levels. If there are dips, buyers are likely to protect nasty losses below the $114 level or the 100 hourly SMA.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is placed nicely in the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently just below the 60 level, with a flat structure.

Major Support Level – $116

Major Resistance Level – $125

Tags: ETHethereum
TweetShare19
Nexo Logo
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

Bitcoin Could be Coiling Up for a Massive Push Higher as Bulls Take Control

Bitcoin Could be Coiling Up for a Massive Push Higher as Bulls Take Control

25 mins ago
Uniswap’s UNI

Charted: Uniswap’s UNI Explodes Above $12, Why Dips Remain Attractive

9 hours ago
Ethereum

TA: Ethereum Surges To New ATM, Why ETH Could Rally Further Above $1,500

11 hours ago
Bitcoin

TA: Bitcoin Consolidates Below $33K, Why BTC Could Attempt Bullish Break

13 hours ago
Ethereum

Ethereum is About to Post a Massively Bullish Signal as Bulls Take Charge

20 hours ago
Ethereum

Ethereum Starts Fresh Increase, Why ETH Could Surge To $1,500

1 day 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

There’s a New Bitcoin Wallet on the Line – Cryonik.io

January 25, 2021

Join PEAKDEFI – a Safer Way to Grow your Wealth

January 25, 2021

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 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
    • 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.