{"id":403513,"date":"2019-11-07T03:08:42","date_gmt":"2019-11-07T03:08:42","guid":{"rendered":"https:\/\/ktsl888.com\/?p=403513"},"modified":"2024-06-11T13:33:47","modified_gmt":"2024-06-11T13:33:47","slug":"ethereum-eth-forming-bearish-pattern-186-hold-key","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum-eth-forming-bearish-pattern-186-hold-key\/","title":{"rendered":"Ethereum (ETH) Forming Bearish Pattern, $186 Hold Key"},"content":{"rendered":"
Ethereum price is forming a bearish breakdown pattern versus the US Dollar, while bitcoin<\/a> is trading below $9,400. ETH price could decline heavily if it breaks $186.<\/em><\/p>\n Recently, there was a decent rise in Ethereum above the $188 and $190 resistance levels against the US Dollar. Moreover, ETH price traded above the $192 resistance area<\/a> and settled above the 100 hourly simple moving average.<\/p>\n However, the price faced a strong resistance near the $195 level and a high was formed near $195. There was a downward move from the $195 and the price traded below the $190 level.<\/p>\n At the outset, Ethereum is holding the $188 and $186 support levels. On the upside, an immediate resistance is near the $192 level. Besides, the 50% Fib retracement level of the recent decline from the $195 high to $188 low is near the $192 zone.<\/p>\n Therefore, an upside break above the $192 level might push the price towards the $195 resistance. An intermediate resistance is near the 76.4% Fib retracement level of the recent decline from the $195 high to $188 low.<\/p>\n On the downside, there are many supports near the $188 and $186 levels. More importantly, this week\u2019s key bullish trend line is intact with support near $188 on the hourly chart of ETH\/USD.<\/p>\n It seems like there is a head and shoulders pattern forming with support near the $188 and $186 levels. Thus, if there is a bearish break below the $186 support, the price could start a fresh decline in the near term.<\/p>\n The next key support is near the $185 level. Any further losses are likely to push the price back towards the main $178 support area.<\/p>\nEthereum Price Analysis<\/h2>\n