{"id":389498,"date":"2019-07-11T03:08:41","date_gmt":"2019-07-11T03:08:41","guid":{"rendered":"https:\/\/uniquehot.com\/?p=389498"},"modified":"2024-06-11T13:45:18","modified_gmt":"2024-06-11T13:45:18","slug":"ethereum-price-holding-key-support-eth-btc-down-10-from-highs","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-price-holding-key-support-eth-btc-down-10-from-highs\/","title":{"rendered":"Ethereum Price Holding Key Support: ETH, BTC Down 10% From Highs"},"content":{"rendered":"
Ethereum price declined sharply below the $300 support versus the US Dollar, along with bitcoin<\/a>. ETH price could recover in the short term as long as it is above $280.<\/em><\/p>\n Recently, there was a sharp decline in bitcoin price<\/a> below $12,500 against the US Dollar. BTC\/USD even broke the $12,000 support level to register a 10% decline. It prompted a sharp decline in Ethereum as well below the $300 support area. Moreover, the ETH\/USD pair declined below the $295 support level to move into a bearish zone. There was also a close below the $295 level and the 100 hourly simple moving average.<\/p>\n Besides, there was a downside break below a contracting triangle with support at $308 on the hourly chart of ETH\/USD. A swing low was formed near $281 and the price is currently consolidating losses. An initial resistance is near the $288 level. It coincides with the 23.6% Fib retracement level of the recent decline from the $310 high to $281 swing low. If there is an upside correction, above $288, the price might recover above $290.<\/p>\n The next important resistance for the bulls is near the $295 level. Moreover, the 50% Fib retracement level of the recent decline from the $310 high to $281 swing low is also near the $295 level. Therefore, the bulls are likely to face a strong resistance near the $295 zone. A successful close above $295 might start a fresh increase towards the $310 and $315 levels.<\/p>\n On the downside, the main support is near the $280 level. If there is a downside break below the $280 support, the price could decline further towards the $270-272 support area.<\/p>\nEthereum Price Analysis<\/h2>\n