{"id":368072,"date":"2019-01-14T04:08:27","date_gmt":"2019-01-14T04:08:27","guid":{"rendered":"https:\/\/uniquehot.com\/?p=368072"},"modified":"2024-06-11T13:32:57","modified_gmt":"2024-06-11T13:32:57","slug":"ethereum-price-analysis-eth-remains-in-downtrend-could-test-100","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-price-analysis-eth-remains-in-downtrend-could-test-100\/","title":{"rendered":"Ethereum Price Analysis: ETH Remains In Downtrend, Could Test $100"},"content":{"rendered":"
Key Highlights<\/p>\n
Ethereum price extended losses and declined below key supports against the US Dollar and bitcoin. ETH\/USD may continue to move down and it could even test the $100 handle.<\/em><\/p>\n In the weekly analysis, we discussed the key $120 and $121 supports<\/a> for ETH price against the US Dollar. The ETH\/USD pair struggled to stay above the $121 support and later fell sharply. It broke the $121 and $120 support levels to test the next support at $114. A low was formed around the $113.45 level and the price is currently correcting higher. An initial hurdle is the 23.6% Fib retracement level of the recent decline from the $128 high to $113 low.<\/p>\n If there is a break above the $117 and $118 levels, the price may trade towards the $120-121 zone. The stated $120-121 zone was a support earlier and now it may prevent gains. More importantly, there are two bearish trend lines formed with resistance near $121 on the hourly chart of ETH\/USD. Additionally, the 50% Fib retracement level of the recent decline from the $128 high to $113 low is at $121. Therefore, if the price corrects higher towards the $120 and $121 levels, it could find a strong selling interest<\/a>. Above $121 and trend lines, the price could recover towards the 100 hourly simple moving average.<\/p>\n <\/p>\nEthereum Price Analysis<\/h3>\n