{"id":394571,"date":"2019-08-29T03:08:45","date_gmt":"2019-08-29T03:08:45","guid":{"rendered":"https:\/\/ktsl888.com\/?p=394571"},"modified":"2024-06-11T13:08:32","modified_gmt":"2024-06-11T13:08:32","slug":"ethereum-price-eth-dives-below-crucial-support-bitcoin-down-5","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum-price-eth-dives-below-crucial-support-bitcoin-down-5\/","title":{"rendered":"Ethereum Price (ETH) Dives Below Crucial Support, Bitcoin Down 5%"},"content":{"rendered":"
Ethereum price is down close to 10% versus the US Dollar, with strong bearish moves vs bitcoin<\/a>. ETH price remains in a downtrend and it could decline further to $162.<\/em><\/p>\n In the past few days, we saw how ETH price struggled to clear the $192 and $195 resistance against the US Dollar. The price even settled below the $190 support and the 100 hourly simple moving average. As a result, there was a sharp decline below the $185 and $180 support levels. The price declined around 10% and even broke the $172 support area. Similarly, there were strong bearish moves in bitcoin, ripple<\/a>, EOS<\/a>, and binance coin.<\/p>\n A new monthly low was formed near $166 before Ethereum started an upside correction. It recovered above the $170 level plus the 23.6% Fib retracement level of the recent drop from the $188 swing high to $166 swing low. However, the upward move was capped by the $174-175 zone. Moreover, the price failed to test the 50% Fib retracement level of the recent drop from the $188 swing high to $166 swing low.<\/p>\n Recently, there was a break below a bearish continuation pattern with support near $172 on the hourly chart of ETH\/USD. The pair is now trading near the $170 level and it seems like it could continue to move down. An immediate support is near the $166 and $165 levels. However, the main target for the bears could be near the $162 level in the near term.<\/p>\n On the upside, there are many hurdles near the $175 level. However, the main resistance is now near the $180 and $182 levels (the previous supports). Besides, the 61.8% Fib retracement level of the recent drop from the $188 swing high to $166 swing low is also near the $180 level.<\/p>\nEthereum Price Analysis<\/h2>\n