• 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
  • Buy SilverTry
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
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Ethereum

Ethereum Rallies 15% To Test Key Downtrend Resistance, Bears Strength Tested

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

Ethereum is up more than 15% and it broke the $130 resistance area against the US Dollar. ETH price is now facing a few important downtrend resistances near $142 and $145.

  • Ethereum is gaining traction and it recently surged above $130 and $135 against the US Dollar.
  • The bears are now defending more gains above the $140 and $142 levels.
  • There is a connecting bullish trend line forming with support near $126 on the hourly chart of ETH/USD (data feed via Kraken).
  • Bitcoin price is also up more than 15% and it tested the key $6,400-$6,500 resistance area.

Ethereum Price Rally Facing Hurdles

After trading in a range for a few sessions, Ethereum gained strength above the $125 resistance against the US Dollar. ETH price broke a key hurdle near the $130 level to start a solid rally.

The bulls gained momentum and the price surged above the $135 level. Besides, there was a close above the $135 level and the 100 hourly simple moving average. The price traded to a new weekly high at $144, where the bears emerged.

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

It seems like the previous important supports near $142-$145 are now acting as a barrier for the bulls. Ethereum is currently correcting lower from the $143 swing high.

It is testing the 23.6% Fib retracement level of the recent rally from the $110 low to $143 high. On the downside, there are many supports forming near the $130 level. More importantly, there is a connecting bullish trend line forming with support near $126 on the hourly chart of ETH/USD.

Ethereum Price
Ethereum Price

The 50% Fib retracement level of the recent rally from the $110 low to $143 high is also near the $126 level to act as a strong support along with the 100 hourly SMA. Therefore, a downside correction towards the $130 and $126 levels may perhaps find a solid buying interest in the near term.

Upside Extension

On the upside, Ethereum is facing a series of crucial hurdles, starting with $142 and up to $150. To move into an uptrend and start a strong rally, the price must settle above the $150 resistance level.

If not, it is likely to slide back towards the $126 and $122 levels in the coming sessions. The main support is now forming near the $120 level.

Technical Indicators

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

Hourly RSI – The RSI for ETH/USD is currently correcting lower from well above the 60 level.

Major Support Level – $130

Major Resistance Level – $142

Tags: ETHethereum
TweetShare18
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

bitcoin dominance btc.d altcoins liftoff

Prepare For Liftoff: Bitcoin Loses Bear Market Trendline Against Altcoins

9 hours ago
Ethereum

TA: Ethereum Dives Below $1,500, Why Bulls Are Losing Control

23 hours ago
Bitcoin

TA: Bitcoin Price Back Below 100 SMA, Why BTC Could Retest $45K

1 day ago
bitcoin cheat sheet

Bitcoin “Cheat Sheet” Calls For Next Leg Up To $77K

1 day ago
bitcoin bloomberg march

Bloomberg Chief Analyst Says Bitcoin Could “March To $100,000” From Here

1 day ago
Ethereum

TA: Ethereum Struggles Above $1,600, Why 100 SMA Is The Key

2 days ago

Premium Partners

Top Brokers

eToro

eToro

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
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

EcoCelium is Now Live – Ready to Mark the Next Step in DeFi

March 5, 2021

MXC Exchange Commits to Integrating USDC-SPL on Solana

March 5, 2021

Gambling Exhibition Ukrainian Gaming Week 2021: A Range of Products From Exhibiting Companies, an up-to-Date Program and a Special Offer

March 5, 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
  • Buy Silver

© 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.