Top Crypto Investment News, Listings, Member Posts, Crypto Investment Daily Indices and more!

5yrs ago Crypto newsbtc Views: 305

  • ETH price is forming a decent support near the $134 level against the US Dollar.
  • The price is currently moving higher and testing the key $136 resistance and the 100 hourly SMA.
  • There is a major bearish trend line formed with resistance at $136 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a solid upward move once it settled above $136 and the 100 hourly SMA.

Ethereum price is currently approaching key hurdles against the US Dollar and bitcoin. ETH is likely to climb higher sharply once it breaks the $136 and $138 resistance levels.

Ethereum Price Analysis

Recently, there was a slow decrease in ETH price after it failed to clear the $138 resistance against the US Dollar. The ETH/USD pair formed a couple of lower highs and declined below the $136 support level. There was even a close below the $136 support and the 100 hourly simple moving average. The price traded close to the $134 support, where buyers emerged and protected further losses. Later, the price corrected higher above $135 and the 23.6% Fib retracement level of the recent decline from the $138 high to $134 low.

However, the previous support near the $136 level is now acting as a resistance. Besides, there is a major bearish trend line formed with resistance at $136 on the hourly chart of ETH/USD. The pair is also facing hurdles near the 100 hourly simple moving average, currently near $136. Finally, the 50% Fib retracement level of the recent decline from the $138 high to $134 low is also near $136. Therefore, the $136 level and the 100 hourly SMA are crucial hurdles.

To start a solid upward move, the price must break the $136 and $137 resistance levels. The next key resistance is at $138, above which the price is likely to move into a bullish zone. On the downside, the $134 support could play a major role. If there is a fresh decline and the price breaks $134, there might be a sharp sell-off.

-

Looking at the chart, ETH price is clearly trading near a significant resistance area at $136. Therefore, the price will either break the $136 resistance and climb higher or decline once again. A bearish break below the $134 support may perhaps push the price in a negative zone in the near term.

ETH Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly moving into the bullish zone, with positive signs.

Hourly RSIThe RSI for ETH/USD recently moved above the 50 level and it could continue higher towards the 65 level.

Major Support Level – $134

Major Resistance Level – $136

Ethereum Price Analysis: ETH Could Jump If It Closes Above 100 SMA on NewsBTC.


Today's Crypto Investment Headlines:

Log In for More
Access Over 250K+ Industry Headlines, Posts and Updates
Not a member yet?

Join AlphaMaven

The Premier Alternative Investment
Research and Due Diligence Platform for Investors

Free Membership for Qualified Investors and Industry Participants
  • Easily Customize Content to Match Your Investment Preferences
  • Breaking News 24/7/365
  • Daily Newsletter & Indices
  • Alternative Investment Listings & LeaderBoards
  • Industry Research, Due Diligence, Videos, Webinars, Events, Press Releases, Market Commentary, Newsletters, Fact Sheets, Presentations, Investment Mandates, Video PitchBooks & More!
  • Company Directory
  • Contact Directory
  • Member Posts & Publications
  • Alpha University Video Series to Expand Investor Knowledge
  • AUM Accelerator Program (designed for investment managers)
  • Over 450K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.