{"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":"
Ethereum price is trading near a major resistance versus the US Dollar and bitcoin<\/a>. ETH price is likely to decline again if it fails to surpass the $215-$216 resistance zone.<\/em><\/p>\n Recently, we saw a 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 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 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 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>\nEthereum Price Analysis<\/h2>\n