{"id":392789,"date":"2019-08-12T03:08:40","date_gmt":"2019-08-12T03:08:40","guid":{"rendered":"https:\/\/ktsl888.com\/?p=392789"},"modified":"2024-06-11T13:08:43","modified_gmt":"2024-06-11T13:08:43","slug":"ethereum-price-eth-near-inflection-point","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum-price-eth-near-inflection-point\/","title":{"rendered":"Ethereum Price (ETH) Near Inflection Point With Bearish Angle"},"content":{"rendered":"<ul>\n<li>ETH price started a short term upside correction from the $201 low against the US Dollar.<\/li>\n<li>Ethereum price is currently trading near the key $215 resistance area and is showing bearish signs.<\/li>\n<li>There is a key ascending channel forming with support near $212 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could either continue to rise above the $215 resistance or it might resume its downward move.<\/li>\n<\/ul>\n<p><em>Ethereum price is trading near a major resistance versus the US Dollar and <a href=\"https:\/\/ktsl888.com\/2019\/08\/11\/bitcoin-btc-price-weekly-forecast-risk-of-fresh-drop-to-10500\/\" target=\"_blank\" rel=\"noopener noreferrer \">bitcoin<\/a>. ETH price is likely to decline again if it fails to surpass the $215-$216 resistance zone.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<p>Recently, we saw a <a href=\"https:\/\/ktsl888.com\/2019\/08\/11\/ethereum-price-weekly-forecast-eth-could-rise-while-btc-struggles\/\" target=\"_blank\" rel=\"noopener noreferrer \">sharp decline<\/a> in ETH price below the $220 and $215 supports against the US Dollar. The price even broke the $210 support level and settled below the 100 hourly simple moving average. Finally, the price tested the $200-$201 support area. A swing low was formed near $201 and the price started an upside correction above the $205 level. Moreover, there was a break above the 23.6% Fib retracement level of the downward move from the $226 swing high to $201 swing low.<\/p>\n<p>The recovery was such that the price climbed above the $215 level and the 100 hourly SMA. However, the price failed to gain strength above the 50% Fib retracement level of the downward move from the $226 swing high to $201 swing low. Additionally, it seems like the price failed to surpass the previous support zone (now resistance) near the $215-216 region.<\/p>\n<p>At the moment, the price is trading well below the $215 level and the 100 hourly SMA. An immediate support is near the $212 level. Furthermore, there is a key ascending channel forming with support near $212 on the hourly chart of ETH\/USD. Therefore, if there is a downside break below the $212 support, Ethereum price could resume its decline below the $210 support. The next key support is near the $202 and $201 levels.<\/p>\n<p>On the upside, the main resistance is near the $215 and $216 levels. If there is a successful close above the $216 level, the price could continue to recover. The next stop for the bulls in the mentioned case could be near the $220 and $222 levels.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/08\/Ethereum-8.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-392790\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/08\/Ethereum-8.png?resize=1828%2C868\" alt=\"Ethereum Price Analysis ETH Chart\" width=\"1828\" height=\"868\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/08\/Ethereum-8.png?w=1828 1828w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/08\/Ethereum-8.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/08\/Ethereum-8.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/08\/Ethereum-8.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/08\/Ethereum-8.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/08\/Ethereum-8.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/08\/Ethereum-8.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, Ethereum price is clearly trading near a couple of important hurdles near the $215 level. In the short term, there could be range moves before the price either breaks $216 or starts a fresh decline.<\/p>\n<h2>ETH Technical Indicators<\/h2>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is moving back into the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is moving lower towards the 50 level.<\/p>\n<p>Major Support Level \u2013 $212<\/p>\n<p>Major Resistance Level \u2013 $216<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ETH price started a short term upside correction from the $201 low against the US Dollar. Ethereum price is currently trading near the key $215 resistance area and is showing bearish signs. There is a key ascending channel forming with support near $212 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could either continue to rise above the $215 resistance or it might resume its downward move. Ethereum price is trading near a major resistance versus the US Dollar and bitcoin. ETH price is likely to decline again if it fails to surpass the $215-$216 resistance zone. Ethereum Price Analysis Recently, we saw a sharp decline in ETH price below the $220 and $215 supports against the US Dollar. The price even broke the $210 support level and settled below the 100 hourly simple moving average. Finally, the price tested the $200-$201 support area. A swing low was formed near $201 and the price started an upside correction above the $205 level. Moreover, there was a break above the 23.6% Fib retracement level of the downward move from the $226 swing high to $201 swing low. The recovery was such that the price climbed above the $215 level and the 100 hourly SMA. However, the price failed to gain strength above the 50% Fib retracement level of the downward move from the $226 swing high to $201 swing low. Additionally, it seems like the price failed to surpass the previous support zone (now resistance) near the $215-216 region. At the moment, the price is trading well below the $215 level and the 100 hourly SMA. An immediate support is near the $212 level. Furthermore, there is a key ascending channel forming with support near $212 on the hourly chart of ETH\/USD. Therefore, if there is a downside break below the $212 support, Ethereum price could resume its decline below the $210 support. The next key support is near the $202 and $201 levels. On the upside, the main resistance is near the $215 and $216 levels. If there is a successful close above the $216 level, the price could continue to recover. The next stop for the bulls in the mentioned case could be near the $220 and $222 levels. Looking at the chart, Ethereum price is clearly trading near a couple of important hurdles near the $215 level. In the short term, there could be range moves before the price either breaks $216 or starts a fresh decline. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is moving back into the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is moving lower towards the 50 level. Major Support Level \u2013 $212 Major Resistance Level \u2013 $216<\/p>\n","protected":false},"author":67,"featured_media":328920,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[8323,1946],"class_list":["post-392789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum Price (ETH) Near Inflection Point With Bearish Angle<\/title>\n<meta name=\"description\" content=\"Ethereum price is trading near a major resistance versus the US Dollar and bitcoin. 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