• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • 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
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • 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
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
technical analysis ethereum
Nexo Logo

Ethereum Price (ETH) Struggling Near 100 SMA While Bitcoin Consolidating

Aayush Jindal by Aayush Jindal
3 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement
  • ETH price extended its decline and tested the $170 support area against the US Dollar.
  • The price is currently correcting higher, but it is struggling to break the $175 resistance area.
  • There was a break above a major declining channel with resistance near $173 on the hourly chart of ETH/USD (data feed via Kraken).
  • The bulls need to push the price above $175 and the 100 hourly simple moving average.

Ethereum price is facing hurdles near $175 versus the US Dollar, while bitcoin is consolidating. ETH price could decline again before it attempts a fresh increase.

Ethereum Price Analysis

Yesterday, we saw a bearish reaction in ETH price below the $178 level against the US Dollar. However, bitcoin price remained well bid above the $10,400 and $10,500 support levels. Recently, Ethereum price extended its decline below the $175 level and the 100 hourly simple moving average. Moreover, there was a break below the $172 level and the price tested the $170 support area.

A swing low was formed near $170 and the price is currently correcting higher. It traded above the $172 resistance level. Moreover, the price climbed above the 23.6% Fib retracement level of the downward move from the $183 high to $170 swing low. More importantly, there was a break above a major declining channel with resistance near $173 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!

However, Ethereum price seems to be facing a strong resistance near the $175 level. Additionally, the 100 hourly simple moving average is also stopping gains near the $175 level. The next key resistance is near the $178 level. It coincides with the 50% Fib retracement level of the downward move from the $183 high to $170 swing low. The main hurdles for the bulls are still near the $180 and $182 levels.

On the downside, an immediate support is near the $172 level. The main support is now near the $170 level, below which there is a risk of another drop towards the $168 support. The next key support is near the $162 pivot level.

Ethereum Price Analysis ETH Chart

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Looking at the chart, Ethereum price is clearly struggling to clear the $175 resistance area and the 100 hourly SMA. Therefore, there could be another bearish reaction before the price attempts an upside break above $175. The next key resistances are near the $178 and $180 levels. A convincing close above the $180 level is needed for a sustained upward move.

ETH Technical Indicators

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

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

Major Support Level – $170

Major Resistance Level – $178

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

Ethereum

TA: Ethereum Struggles Below $2K, Why Bears Remain In Action

8 hours ago
Bitcoin

TA: Bitcoin Price Remains In Range, Why The Bulls Need To Take Control

10 hours ago
Extreme fear

Market Sentiment Dangerously Negative As Crypto Fear Index Drops To Two-Year Low

20 hours ago
Ethereum

TA: Ethereum Forms Bullish Pattern But This Level Is Crucial

1 day ago
Bitcoin

TA: Bitcoin Price Moves Higher In Range, $30.6K Still Presents Resistance

1 day ago
Ethereum

TA: Ethereum Dips But Here’s Why ETH Could Start Fresh Increase

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Oriental Culture Announces Strategic Partnership with Hangzhou Metaverse Internet Technology Co., Ltd.

May 26, 2022

Price Prediction: How Profitable Will These Coins Be? — Dogecoin (DOGE), Parody Coin (PARO), and Ripple (XRP)

May 26, 2022

In Defence of Cryptocurrency – Christine Lagarde, Are You Serious?

May 26, 2022

Gaming Projects You Should Know in 2022: Decentraland (MANA), Enjin (ENJ), and Pac-Man Frog (PAC)

May 26, 2022

These Undervalued Coins Could Be Your Ticket to Being a Millionaire: Polkadot (DOT) and Quitriam Finance (QTM)

May 26, 2022

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

Crypto Prices from Nomics

Cryptocurrency news

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

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • 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
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 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.