• 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
    • 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
  • Invest BTCTry
  • Join STC ICOBuy
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
    • 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
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Ethereum

Ethereum Takes a Bit Hit But Another Lift-Off To $180 Is Likely

Aayush Jindal by Aayush Jindal
1 year ago
in Ethereum, Technical analysis
Reading Time: 2min read
Ethereum
Advertisement

Ethereum is currently correcting lower from the $176 monthly high against the US Dollar. ETH price remains well supported on the downside near the $162 and $158 levels.

  • Ethereum is correcting lower and trading below the $170 level against the US Dollar, similar to bitcoin.
  • The price is holding the main $162 and $158 support levels.
  • There is a key contracting triangle forming with resistance near $170 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could rally again towards $180 as long as there is no close below the $158 support.

Ethereum Price Remains in Uptrend

Yesterday, we saw a sharp rise in Ethereum above the $160 and $170 levels against the US Dollar. However, ETH price struggled to clear the $175 resistance and the 100-day simple moving average (as discussed in yesterday’s analysis).

A new monthly high is formed near the $176 level and the price recently corrected lower. It broke the $170 level to start the correction. There was a break below the 23.6% Fib retracement level of the upward move from the $140 swing low to $176 high.

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

On the downside, the $162 level is acting as a strong support and Ethereum is trading well above the 100 hourly simple moving average. There is also a key contracting triangle forming with resistance near $170 on the hourly chart of ETH/USD.

Ethereum Price
Ethereum Price

If there is an upside break above the triangle resistance and $170, the price is likely to restart its rise. An immediate resistance is near the $175 level, above which the price could surge towards the $180 level. Any further gains could lead the price towards the $188 level.

Key Buy Zones

On the downside, Ethereum is likely to remain well supported above the $162 levels. The next major support is near the $158 level. It coincides with the 50% Fib retracement level of the upward move from the $140 swing low to $176 high.

The 100 hourly simple moving average is also near the $155 level to act as a strong support. If the price fails to stay above the $158 support and the 100 hourly SMA, it could extend its decline towards the $150 and $144 levels in the near term.

Technical Indicators

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

Hourly RSI – The RSI for ETH/USD is currently declining and approaching the 50 level.

Major Support Level – $140

Major Resistance Level – $145

Take advantage of the trading opportunities with Plus500

Risk disclaimer: 76.4% of retail CFD accounts lose money.

Tags: ETHethereumethusd
TweetShare19
Nexo Logo
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

Ethereum

TA: Ethereum Outperforms Bitcoin, Why Bulls Could Aim $2,500 or Higher

33 mins ago
Bitcoin

TA: Bitcoin Trims Gains, But Here’s How BTC Could Rise Again

3 hours ago
bitcoin dollar dxy btcusd

Bitcoin, Coinbase Crypto Euphoria Is Blind To Potential Dollar Reversal

10 hours ago
Ethereum

TA: Ethereum Sets New ATH, Here’s Why The Bulls Could Aim $2,500

1 day ago
Bitcoin

TA: Here’s Why Bitcoin Price is Signaling Upside Continuation To $65K

1 day ago
bitcoin bearish chart

The Bearish Bitcoin Chart Bulls Definitely Don’t Want To See

1 day ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

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

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

Crypto Exchange Platform AAX Reveals HKD, SDG, and GBP as the Top Three Fiat Currencies Deposited In April

April 14, 2021

Polkadex IDO Launches On Polkastarter on the 16th of April

April 13, 2021

Fast-Growing Exchange Bityard to Launch Its First Contest for Global Traders

April 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
    • 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
  • Invest BTC
  • Join STC ICO

© 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.