{"id":372043,"date":"2019-02-20T04:08:09","date_gmt":"2019-02-20T04:08:09","guid":{"rendered":"https:\/\/uniquehot.com\/?p=372043"},"modified":"2024-06-11T13:07:52","modified_gmt":"2024-06-11T13:07:52","slug":"ethereum-price-analysis-eth-remains-buy-on-dips-100-sma-holds-key","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-price-analysis-eth-remains-buy-on-dips-100-sma-holds-key\/","title":{"rendered":"Ethereum Price Analysis: ETH Remains Buy On Dips, 100 SMA Holds Key"},"content":{"rendered":"
Ethereum price started a short term correction against the US Dollar and bitcoin. ETH\/USD must stay above $136 and the 100 hourly simple moving average to bounce back.<\/em><\/p>\n In the past few days, ETH price climbed higher<\/a> and broke the $135 and $140 resistances against the US Dollar. The ETH\/USD pair even traded towards the $150 resistance zone, where sellers emerged. A top was formed just below the $150 level and later the price started a downside correction. It declined below the $146 support and the 23.6% Fib retracement level of the last leg from the $135 swing low to $150 swing high. It opened the doors for more gains and the price dropped towards the $140 support zone.<\/p>\n Moreover, there was a break below a key bullish trend line with support at $146 on the hourly chart of ETH\/USD. The pair declined below the 50% Fib retracement level of the last leg from the $135 swing low to $150 swing high. However, there are many important supports are in place near the $141, $140 and $136 levels. The main support is near the $138 level. It coincides with the 76.4% Fib retracement level of the last leg from the $135 swing low to $150 swing high. Besides, the 100 hourly simple moving average<\/a> is positioned near the $136 level to act as a strong support.<\/p>\n Therefore, if the price continues to decline, the $138 and $136 levels are likely to prevent losses. If there is a break and close below the 100 hourly SMA, the price might decline further towards the $130 level. On the other hand, if the price finds support near $138, it could start a fresh upward move.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n