{"id":371140,"date":"2019-02-12T04:08:06","date_gmt":"2019-02-12T04:08:06","guid":{"rendered":"https:\/\/uniquehot.com\/?p=371140"},"modified":"2024-06-11T13:33:27","modified_gmt":"2024-06-11T13:33:27","slug":"ethereum-price-analysis-eth-could-extend-consolidation-above-114","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-price-analysis-eth-could-extend-consolidation-above-114\/","title":{"rendered":"Ethereum Price Analysis: ETH Could Extend Consolidation Above $114"},"content":{"rendered":"
Ethereum price is showing signs of extended consolidation against the US Dollar and bitcoin. ETH\/USD could decline towards the $114 support before the next upward move.<\/em><\/p>\n Recently, we saw a decent upward move<\/a> in ETH price above the $122 level against the US Dollar. The ETH\/USD pair tested the $125 resistance zone and later corrected lower. It declined below the $124 and $122 levels to start a short term downside correction. There was a break below the 50% Fib retracement level of the last leg from the $115 swing low to $125 high. The price even traded below the $120 level, but it stayed above the 100 hourly simple moving average.<\/p>\n Moreover, there was a break below a short term contracting triangle with support at $119 on the hourly chart of ETH\/USD. The pair tested the $117 level, where buyers emerged<\/a>. Besides, it traded close to the 76.4% Fib retracement level of the last leg from the $115 swing low to $125 high. The pair is currently trading above the $116 support, with a few bearish signs. To climb higher, the price must break the $122 and $123 resistance levels. On the other hand, if it fails to move past $122, ETH sellers may push the price towards the $114 support.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n