• 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
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
No Result
View All Result
NewsBTC
No Result
View All Result
Ethereum
Nexo Logo

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

Aayush Jindal by Aayush Jindal
2 years ago
in Ethereum, Technical analysis
Reading Time: 2 mins read
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.

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

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
Tweet123Share215ShareSend
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

World Of Women, screenshot from the website

Blue Chip NFTs 101: The World Of Women Collection, Including And Conquering

1 day ago
Ethereum

TA: Ethereum Trims Gains, Why ETH Remains At Risk Below $1,100

2 days ago
Bitcoin

TA: Bitcoin Recovers Sharply, Why BTC Could Still Struggle Above $20,500

2 days ago
Ethereum

Decline In Ethereum Futures On CME Suggests Institutional Investors Are Still Bearish

3 days ago
Ethereum Loses Steam As Exchange Supply Spikes

Ethereum Loses Steam As Exchange Supply Spikes

3 days ago
Ethereum

TA: Ethereum Key Indicators Suggest A Sharp Drop Below $1K

3 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

A LPL-like tournament in the GameFi circle, offering 500K USD in total prize: DracooMaster Champion Series 2022 unveiled

July 3, 2022

GRN (G) Gets Listed On XT.com

July 3, 2022

Fitmint Raises $1.6 Million to Power Up Move-to-Earn Revolution

July 3, 2022

Three Meme Tokens Making Big Strides This Year: Big Eyes (BIG), GM Wagmi (GM), and Dogelon Mars (ELON)

July 3, 2022

Xchange Monster (MXCH), bringing the GameFi Revolution Now

July 3, 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

© 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.