{"id":368294,"date":"2019-01-16T04:08:39","date_gmt":"2019-01-16T04:08:39","guid":{"rendered":"https:\/\/uniquehot.com\/?p=368294"},"modified":"2024-06-11T13:08:06","modified_gmt":"2024-06-11T13:08:06","slug":"ethereum-price-analysis-eth-stays-bullish-despite-constantinople-fork-delay","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-price-analysis-eth-stays-bullish-despite-constantinople-fork-delay\/","title":{"rendered":"Ethereum Price Analysis: ETH Stays Bullish Despite Constantinople Fork Delay"},"content":{"rendered":"
Ethereum price declined against the US Dollar and bitcoin after the Constantinople hard fork was postponed. However, ETH\/USD could bounce back as long as it is above $113.<\/em><\/p>\n Yesterday, we saw a solid upside break<\/a> above $121 and $124 in ETH price against the US Dollar. The ETH\/USD pair even broke the $128 resistance and later spiked above the $130 level. However, the upside move was capped by the $131-132 zone. It also represents the 50% Fib retracement level of the key drop from the $151 high to $113 low. More importantly, the drop was due to the delay announcement of the Constantinople hard fork. The market reacted to the downside and the price dropped below $124.<\/p>\n Sellers gained traction and pushed the price below the 61.8% Fib retracement level of the recent wave from the $116 swing low to $132 swing high. More importantly, there was a break below a connecting bullish trend line with support at $120 on the hourly chart of ETH\/USD. The pair settled below the $124 level and the 100 hourly simple moving average. The current price action is bearish below the $121 pivot level and the 76.4% Fib retracement level of the recent wave. On the downside, there are a few important supports<\/a> near $114 and $113.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n