• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: How Uniswap Was Deployed On The Binance Smart Chain
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: How Uniswap Was Deployed On The Binance Smart Chain
technical analysis ethereum

Ethereum Price Analysis: ETH Facing Uphill Task Near $105 Resistance

Aayush Jindal by Aayush Jindal
4 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement
  • ETH price declined recently, tested the $100 support, and later recovered against the US Dollar.
  • There is a major bearish trend line formed with resistance near $105 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to face a strong resistance near $105 and the 100 hourly simple moving average.

Ethereum price started a short term correction against the US Dollar and bitcoin. ETH/USD is likely to fail near $105 or $107 and it will most likely resume its slide.

Ethereum Price Analysis

Yesterday, there was a major downside move below the $105 support in ETH price against the US Dollar. The ETH/USD pair declined sharply below the $105 level and traded towards the $100 level. The price even settled below the $105 level and the 100 hourly simple moving average. After testing the $100 support, the price started a short term upside correction. It traded above the 50% Fib retracement level of the recent decline from the $107 high to $100 low. However, the price faced a strong resistance near $105 and the 100 hourly simple moving average.

Additionally, the price failed to gain strength above the 61.8% Fib retracement level of the recent decline from the $107 high to $100 low. More importantly, there is a major bearish trend line formed with resistance near $105 on the hourly chart of ETH/USD. The pair is currently consolidating below the trend line, $105 and the 100 hourly SMA. To recover further, the price must break $105 and the 100 hourly SMA. The next crucial resistance is near the $107 level, which acted as a hurdle on many occasions in the past. On the other hand, if the price fails to move above $105, it could resume its decline.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Ethereum Price Analysis ETH Chart

Looking at the chart, ETH price is clearly facing an uphill task near $105 and $107. Therefore, there is a risk of a fresh drop towards the $102 and $100 levels.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD moved back in the bullish zone.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Hourly RSI – The RSI for ETH/USD jumped above the 50 level, with a positive angle.

Major Support Level – $102

Major Resistance Level – $105

Tags: ETHethereum
Tweet123Share196ShareSend
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

Solana Price Aims Higher

SOL Price Prediction: Solana Gearing For Another Lift-Off to $25

1 hour ago
Ethereum Price

Ethereum Price Underperforms and Turns At Risk of Downside Break

3 hours ago
Bitcoin

Bitcoin Price Defies Gravity And Here’s Why BTC Could Surge To $30K

4 hours ago
bitcoin price dead death cross

Bitcoin Officially Back From The Dead As Price Moves Above “Death Cross”

3 days ago
BNB

BNB Price Surges Over 20% in a Week And Rally Seems Far From Over

3 days ago
Ethereum

Ethereum Price Seems Ready For Another Leg Higher Over $1,750

3 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Ripple (XRP) And Cardano (ADA) Escape Bears As TMS Network (TMSN) Posts Thumping Presale Growth

March 19, 2023

Litecoin (LTC) and Dogecoin (DOGE) Signal Bullish Potential While TMS Network (TMSN) Explodes in Presale

March 19, 2023

Investors lose interest in Fantom (FTM), Aptos (APT) as they shift towards TMS Network (TMSN)

March 19, 2023

Orbeon Protocol (ORBN) Predicted To Skyrocket 60x At Presale Completion As Litecoin (LTC) and VeChain (VET) Pause After Moves Higher

March 19, 2023

2022’s Crypto Market Crash Distant Memory As Brands Like Metacade Lead Bull Run

March 18, 2023

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.

Links

Crypto Prices from Nomics

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
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 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.