• 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

Ethereum Price Analysis: ETH Back In Familiar Range, Can Buyers Take Control?

Aayush Jindal by Aayush Jindal
2 years ago
in Technical analysis
Reading Time: 2min read
technical analysis ethereum
Advertisement
Nexo Logo
Listen to Article
  • ETH price recovered nicely from the $132 support level and traded above $134 against the US Dollar.
  • The price even cleared the $135 and $136 resistance levels, but upsides remain capped.
  • There is a crucial bearish trend line formed with resistance at $138 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair might face a strong resistance near the $138 level and it could drop back to $135.

Ethereum price is slowly recovering higher against the US Dollar and bitcoin. However, there are many hurdles for ETH buyers near the $138 and $139 levels.

Ethereum Price Analysis

Recently, we saw a major drop in ETH price below the $134 support level against the US Dollar. The ETH/USD pair traded close to the $132 support level and later started a decent recovery. It climbed back above the $134 and $135 resistance levels. There was also a close above the $135 level and the 50% Fib retracement level of the recent decline from the $140 swing high to $132 low. However, there are still many hurdled for buyers on the upside, starting with $137 and ending near $140.

The price is currently trading near the $137 resistance and the 100 hourly simple moving average. Besides, the 61.8% Fib retracement level of the recent decline from the $140 swing high to $132 low is also near the $137 level. On the upside, there is a strong resistance formed near the $138 level. There is also a crucial bearish trend line formed with resistance at $138 on the hourly chart of ETH/USD.

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

Below the trend line, the 76.4% Fib retracement level of the recent decline from the $140 swing high to $132 low is positioned. Therefore, if the price continues to move higher, it could face sellers near the $137 and $138 levels. The next main resistance is near the $140 level, which prevented gains on many occasions recently. On the downside, an initial support is at $135. A break below the $135 level may push the price back towards the $132 level.

Ethereum Price Analysis ETH Chart

Looking at the chart, ETH price is slowly climbing high and moving back in the key $130-140 range. It may continue to rise towards the range resistance, but a break above $138 and $140 won’t be easy. There are even chances of a fresh drop below $135 before the price climbs higher towards $140.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is showing positive signs and it could move into the bullish zone.

Hourly RSI – The RSI for ETH/USD is now well above the 50 level and it is moving higher towards the 60 level.

Major Support Level – $135

Major Resistance Level – $137

Tags: ETHethereum
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

bitcoin bubble crypto google search altcoin

Could Mt Gox Be The End Of Yet Another Epic Bitcoin Rally?

27 mins ago
Chainlink (LINK)

Charted: Chainlink (LINK) Revisits $18, Why It Could Soon Break $20

13 hours ago
Ethereum

TA: Ethereum Struggles Near $1,250: Why ETH Remains Attractive On Dips

15 hours ago
Bitcoin

TA: Bitcoin Revisits $40K, What Are Chances of BTC Hitting New ATH

17 hours ago
Bitcoin

Bitcoin Just Reached this “Key Zone” — Here’s What Analysts Say Comes Next

23 hours ago
ethereum eth crypto

Capital Manager: Ethereum Will Double In Two Weeks Once ATH Is Broken

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

SV-based Taraxa Revolutionizes Legacy Data Auditing With Mathematically Provable Audit Trails

January 15, 2021

Kickoff Your DeFi Journey With YOYO FINANCE – Their Token Sale Is Live

January 14, 2021

RAI Finance Pre-sale Finishes in 1 Minute

January 13, 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.