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Ethereum Price Analysis: ETH Trading Near Crucial Turning Point

Ethereum price analysis: eth trading near crucial turning point

Ethereum Price Analysis: ETH Trading Near Crucial Turning Point

  • Ethereum price declined recently and revisited the key $113 and $114 supports against the US Dollar.
  • ETH is trading below a crucial bearish trend line with resistance at $120 on the 4-hours chart (data feed from Coinbase).
  • The price will most likely make the next significant move either above $120 or below $113 in the near term.

Ethereum price is under a lot of pressure below the $120 pivot level against the US Dollar. ETH is preparing for the next break either above $120 or towards $100 in the coming sessions.

Ethereum Price Analysis

In the past few days, there were mostly bearish moves below $135 in Ethereum price against the US Dollar. The ETH/USD pair declined from the $160 swing high and settled below the $140 and $138 support levels. It traded towards the $113 and $114 support levels and later recovered a few points. The price climbed above the $120 and $125 levels, but it struggled to gain traction above $130-132. As a result, there was a fresh decline and a few swing highs were formed near $128 and $126. The last swing high was near $126 before the price retested the $113 support area.

It is currently trading a few points above the $113 support. An immediate resistance is the 23.6% Fib retracement level of the recent drop from the $127 swing high to $113 swing low. More importantly, there is a crucial bearish trend line in place with resistance at $120 on the 4-hours chart. Above the trend line, the 50% Fib retracement level of the recent drop from the $127 swing high to $113 swing low is near $120. Finally, the 55 simple moving average (4-hours) is positioned near the $121 level. Therefore, a break above the $120-121 resistance zone is must for a fresh recovery.

Ethereum price analysis eth chart

Looking at the chart, Ethereum price seems to be preparing for the next significant move either above $120 or below $113. Above $120-121, the price may test $130, and below $113, the price could test $100.

Technical indicators

4-hours MACD – The MACD for ETH/USD is placed heavily in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI for ETH/USD is currently well below the 35 level.

Key Support Level – $113

Key Resistance Level – $121

Tags: ETH, Ethereum

Published at Tue, 22 Jan 2019 10:00:48 +0000

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The LTB Network?’?s Founder and Editor-in-Chief Adam B. Levine will remain host of the flagship ?’?œLet?’?s Talk bitcoin!?’ show and serve on the network?’?s editorial board.

?’?œOur goal has always been to showcase the disruptive ideas, people and projects that are leading innovation in digital currency,?’ Levine said. ?’?œThis is a new opportunity to grow our audience and better serve our podcasters and writers by focusing more of our time on creating better content, not selling ads.?’

Founded in 2011, BTC Media is the world?’?s largest provider of multimedia, educational, conferences and other high-value informational resources focused on the digital currency and blockchain industries.

Founded in 2014, The LTB Network has for years been the home to a distributed group of independent broadcasters and journalists working toward better understanding, exploring and explaining the phenomenon of digital currency.

?’?œThis change marks a vitally important mechanism for BTC media to engage audiences worldwide,?’ Bailey said. ?’?œWe are excited to expand the number of podcasts and place new focus on production value. We look forward to building on the foundation that Adam has established and taking it to the next level.?’

The LTB Network has been a testbed of innovation with a proprietary content management system, token controlled-access forums and more. It was the first to launch a rewards program using a digital currency, LTBCoin, which was awarded to content creators and audience members according to their ?’?œProof of Participation?’ score.

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For news media information, please contact Tyler Evans:

tyler@btcmedia.org

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