{"id":367558,"date":"2019-01-08T04:08:13","date_gmt":"2019-01-08T04:08:13","guid":{"rendered":"https:\/\/uniquehot.com\/?p=367558"},"modified":"2024-06-11T12:44:03","modified_gmt":"2024-06-11T12:44:03","slug":"ethereum-price-analysis-eth-starts-downside-correction-below-150","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-price-analysis-eth-starts-downside-correction-below-150\/","title":{"rendered":"Ethereum Price Analysis: ETH Starts Downside Correction Below $150"},"content":{"rendered":"
Key Highlights<\/p>\n
\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span><\/span>ETH price failed to stay above the $155 support and declined recently against the US Dollar.<\/p>\n \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span><\/span>Yesterday\u2019s highlighted key bullish trend line was breached with support at $150 on the hourly chart of ETH\/USD (data feed via Kraken).<\/p>\n \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span><\/span>The pair may continue to correct lower towards the $144 or $139 support level.<\/p>\n Ethereum price is slowly moving in the bearish zone against the US Dollar and bitcoin. ETH\/USD may accelerate the current correction towards $144 or $139.<\/i><\/p>\n Recently, ETH price failed to clear the $159-160 resistancezone<\/a> against the US Dollar. The ETH\/USD pair started a downside correction and traded below the $155 and $150 support levels. There was even a close below the $155 support and the 100 hourly simple moving average. The price also declined below the 76.4% Fib retracement level of the recent leg from the $147 low to $160 high.<\/p>\n More importantly, yesterday\u2019s highlighted key bullish trend line was breached with support at $150 on the hourly chart of ETH\/USD. The pair tested the $147 swing low and it is currently trading below the 100 hourly SMA. On the downside, the next support<\/a> is near the $144 level. It is the 1.236 Fib extension level of the recent leg from the $147 low to $160 high. If there are more losses, the price may trade towards the $139-140 support zone. Besides, the 1.618 Fib extension level of the recent leg is also near the $139 level. On the upside, the broken support near the $150-152 zone and the 100 hourly SMA could act as a resistance.<\/p>\n <\/p>\nEthereum Price Analysis<\/h3>\n