– <\/strong>The RSI for ETH\/USD is currently above 50 and is moving higher.<\/p>\nMajor Support Level \u2013 $170<\/p>\n
Major Resistance Level \u2013 $178<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price is currently struggling to climb above $178 and $180 against the US Dollar. Bitcoin price is declining and it seems like it failed to stay above $8,220 and $8,200. There is a short term bullish trend line forming with support near $172 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could recover to $180 as long as there is no close below the $170 support area. Ethereum price is showing a few bearish signs versus the US Dollar, while bitcoin is declining. ETH price could bounce back as long as the $170 support holds. Ethereum Price Analysis Yesterday, we saw a decent recovery in Ethereum above the $175 resistance against the US Dollar. More importantly, bitcoin price gained traction and climbed above the $8,200 resistance area. However, BTC failed to stay above the $8,220 and $8,000 level. It is currently declining, dragging Ethereum and ripple lower. Recently, ETH price spiked above the $178 level, but it failed to continue higher. As a result, there was a fresh decline and the price declined below $175. A low was formed near $171.55 and the price is currently correcting higher. It recovered above the 23.6% Fib retracement level of the recent decline from the $178 high to $171 swing low. At the moment, it is consolidating near the $175 resistance and the 100 hourly simple moving average. Besides, it seems like the 50% Fib retracement level of the recent decline from the $178 high to $171 swing low is acting as a resistance. If there is an upside break above the $175 resistance, the price could recover towards the $178 resistance area. Having said that, a clear break above the $178 and $180 resistance levels is must for a steady rise in the near term. On the downside, there are many supports near the $172 and $170 levels. Additionally, there is a short term bullish trend line forming with support near $172 on the hourly chart of ETH\/USD. If there is a downside break below the trend line, the price could even decline below the $170 support. Looking at the chart, Ethereum price is clearly trading in a broad range between $170 and $180. A clear break and close on either side might set the pace for the next move. As long as there is no daily close below $170, there are chances of an increase above the $178 and $180 resistance levels in the near term. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly moving into the bullish zone. Hourly RSI – The RSI for ETH\/USD is currently above 50 and is moving higher. Major Support Level \u2013 $170 Major Resistance Level \u2013 $178<\/p>\n","protected":false},"author":67,"featured_media":344603,"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-401948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n
Ethereum (ETH) Trading Sideways While Bitcoin Trimming Gains<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n