• 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 Cryptocurrency news Ethereum

Here’s Ethereum Bears Last Defense, Can Bulls Overcome This Hurdle?

Aayush Jindal by Aayush Jindal
12 months ago
in Ethereum, Technical analysis
Reading Time: 2min read
Ethereum ETH
Advertisement
Nexo Logo
Listen to Article

Ethereum is up 2% and it broke the $175 resistance, while bitcoin rallied 5%. ETH price is now facing a strong resistance near the $178 and $180 levels.

  • There was a steady rise in Ethereum above the $170 and $175 levels against the US Dollar.
  • The price revisited the key $178 resistance area, where the bears took a stand.
  • There is a major ascending channel forming with support near $173 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could rally significantly once there is a close above the $178 and $180 levels.

Ethereum Price Struggling Near $180

This week, there was a slow and steady rise in Ethereum above $170 against the US Dollar. ETH price corrected a few points, but it was able to pop above the $175 resistance and the 100 hourly simple moving average.

Finally, it revisited the key $178 resistance area, where the bears took a stand. A high is formed just below $180 and the price is currently correcting gains. It broke the 23.6% Fib retracement level of the recent gain from the $170 swing low to $179 high.

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

An initial support on the downside is near the $175 level. It coincides with the 50% Fib retracement level of the recent gain from the $170 swing low to $179 high.

Moreover, there is a major ascending channel forming with support near $173 on the hourly chart of ETH/USD. If there is a downside break below the channel support, the price could test the $170 support area.

Ethereum Price
Ethereum Price

On the upside, the $178 and $180 levels are important hurdles for Ethereum bulls. The price must settle above $180 to continue higher. The next major resistance above $180 is seen near the $200 handle.

Key ETH Support

The first major support is near the ascending channel, followed by $170. If ETH bulls fail to defend the $170 support level, the next support is seen near the $168 level.

It also coincides with the 1.236 Fib extension level of the recent gain from the $170 swing low to $179 high. Besides, the 100 hourly simple moving average is also near the $168 level.

If there is a break below the $168 support, Ethereum might turn bearish and test the $158 support. An intermediate support could be near the $162 level.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing pace in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now well above the 60 level, with a little correction signals.

Major Support Level – $173

Major Resistance Level – $180

Tags: ETHethereum
TweetShare17
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

xrp ada salt crypto

XRP At Risk Of Falling Out Of Crypto Top Five For First Time Since 2013

1 hour ago
Bitcoin

Altcoins Fly as Bitcoin Ranges: What Analysts Think Comes Next for BTC

5 hours ago
Chainlink (LINK)

Charted: Chainlink (LINK) Remains In Strong Uptrend, Why It Could Test $25

13 hours ago
Ethereum

TA: Ethereum Steadies Above $1,150: Why ETH Could Outperform BTC

16 hours ago
Bitcoin

TA: Bitcoin Topside Bias Vulnerable, Why BTC Could Dive Below $35K

18 hours ago
Ethereum

Ethereum is About to Flip a Key Resistance Level into Support; New Highs Imminent?

23 hours 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

Robonomics Winter School 2021 Master Classes And Lectures Open For Attendees

January 18, 2021

Introducing ethrift.io Non-Custodial FIAT Ethereum Gateway

January 16, 2021

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

January 15, 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.