• 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: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
  • 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: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
technical analysis ethereum

Ethereum Price (ETH) In Corrective Increase, Can It Break $180?

Aayush Jindal by Aayush Jindal
4 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement
Advertisement
  • ETH price is currently correcting higher and is trading above $170 against the US Dollar.
  • The price is likely to face a lot of hurdles on the upside near the $176, $178 and $180 levels.
  • There is a connecting bullish trend line forming with support near $168 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair might gain bullish momentum if it breaks the $174 level and the 100 hourly SMA.

Ethereum price is slowly correcting higher versus the US Dollar, similar to bitcoin. However, ETH price is likely to fail near the key $180 resistance area in the near term.

Ethereum Price Analysis

This past week, we saw a major decline in ETH price below the $180 support against the US Dollar. Moreover, there was a close below the $175 level and the 100 hourly simple moving average. Finally, the price traded to a new monthly low at $163. Later, the price started consolidating losses and it seems like a decent support base is forming near the $165 level.

Recently, Ethereum price started an upside correction above the $168 level. Moreover, there was a break above the 23.6% Fib retracement level of the downward move from the $188 high to $163 swing low. However, it seems like the price is struggling to surpass the 100 hourly simple moving average, currently at $172. If there is a break above the 100 hourly simple moving average, the price could recover towards $175.

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!

The 50% Fib retracement level of the downward move from the $188 high to $163 swing low is positioned near the $175 level to act as a resistance. However, the main resistance on the upside is near the $180 level (the previous support area). A successful close above $180 is needed for a decent recovery in the coming sessions.

On the downside, an initial support is near the $168 level. Additionally, there is a connecting bullish trend line forming with support near $168 on the hourly chart of ETH/USD. If the pair breaks the $168 support, it could retest the key $165 support area. If there are more downsides below $165, the price could even break the $163 swing low and trade to a new low.

Ethereum Price Analysis ETH Chart

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

Looking at the chart, Ethereum price might gain bullish momentum if it breaks the $174 level and the 100 hourly SMA. However, it won’t be easy for the bulls to clear the $178-180 resistance area.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly moving into the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently above the 50 level, with a few positive signs.

Major Support Level – $165

Major Resistance Level – $175

Tags: ETHethereum
Tweet123Share212ShareSend
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 uptrend

Bitcoin Market Structure Points To New Uptrend, Here’s Why

2 hours ago
Ripple XRP

Where Is The XRP Price Heading As Perp Open Interest Doubles?

13 hours ago
Stellar (XLM)

XLM Price (Stellar) Rallies $0.11 and Primed For More Upsides

20 hours ago
Ethereum

Ethereum Price Holds Strong As Indicators Suggest High Chances of Fresh Rally

21 hours ago
Bitcoin

Bitcoin Price Shows Signs of Weakness But Key Uptrend Support Intact

22 hours ago
Chainlink (LINK)

LINK Price Prediction: Chainlink Gearing For Another Lift-Off to $8

2 days ago

Premium Partners

Play Finance

Trending Projects

  • 4 Best Upcoming ICO For 2023

    1 week ago
  • Crypto Investment for Long Term Growth in 2023

    1 week ago
  • 5 Cryptocurrency To Invest In 2023

    1 week ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
  • Ripple Not ‘Ripped Apart’ Amid Legal Battle With SEC...

    5 hours ago
  • Top 3 Altcoins For April 2023: Dogetti, Stacks &...

    5 hours ago
  • Top 9 ERC20 Tokens To Buy Now For Growth in 2023

    9 hours ago
  • Bitgert Backed Q-BRISE Set to Outshine Competitors with...

    10 hours ago
  • TMS Network (TMSN) Surges and Attracts Investors as Conflux...

    13 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.

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.