{"id":374507,"date":"2019-03-13T04:08:17","date_gmt":"2019-03-13T04:08:17","guid":{"rendered":"https:\/\/uniquehot.com\/?p=374507"},"modified":"2024-06-11T13:38:44","modified_gmt":"2024-06-11T13:38:44","slug":"ethereum-eth-price-analysis-sec-chairman-buyers","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-eth-price-analysis-sec-chairman-buyers\/","title":{"rendered":"Ethereum (ETH) Price Analysis: SEC Chairman\u2019s Stance Isn\u2019t Helping Buyers"},"content":{"rendered":"
Ethereum price remained below major resistance levels against the US Dollar and bitcoin. ETH failed to gain traction despite SEC\u2019s Chairman Reaffirmation<\/a> that it is not a security.<\/em><\/p>\n Recently, ETH price recovered nicely after trading towards the $127 level against the US Dollar. The ETH\/USD pair formed a low just above the $127 level and later corrected above the $129 resistance level. It even jumped above the $130 level and the 50% Fib retracement level of the last slide from the $135 high to $127 swing low. However, the upside move was capped by the $134 resistance level and the 100 hourly simple moving average. There were a couple of spikes near the $134 resistance before the price corrected lower.<\/p>\n It declined below the 23.6% Fib retracement level of the recent wave from the $127 swing low to $134 high. The price declined below the $132 level, but the $131 level acted as a decent support. Besides, the 50% Fib retracement level of the recent wave from the $127 swing low to $134 high provided support. There was a fresh upside move, but the price is still facing a strong resistance near $134 and the 100 hourly SMA. More importantly, this week\u2019s key bearish trend line<\/a> is in place with resistance at $133 on the hourly chart of ETH\/USD.<\/p>\n Therefore, a proper break above the trend line, the 100 hourly SMA, and the $134 resistance is must for more gains. The next key resistance is at $136, above which the price may test $139. On the other hand, if the price fails to climb above $134, it could decline again below the $131 support.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n