{"id":394655,"date":"2019-08-30T03:08:29","date_gmt":"2019-08-30T03:08:29","guid":{"rendered":"https:\/\/uniquehot.com\/?p=394655"},"modified":"2024-06-11T13:24:54","modified_gmt":"2024-06-11T13:24:54","slug":"ethereum-price-eth-testing-crucial-support-but-recovery-wont-be-easy","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-price-eth-testing-crucial-support-but-recovery-wont-be-easy\/","title":{"rendered":"Ethereum Price (ETH) Testing Crucial Support But Recovery Won\u2019t Be Easy"},"content":{"rendered":"<ul>\n<li>ETH price is under a lot of pressure below the $170 and $175 resistances against the US Dollar.<\/li>\n<li>The price is likely to decline sharply if it settles below the $165 support area in the near term.<\/li>\n<li>There is a declining channel forming with resistance near $169 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a decent recovery if the bulls manage to push the price above the $175 resistance.<\/li>\n<\/ul>\n<p><em>Ethereum price is trading in a bearish zone versus the US Dollar and <a href=\"https:\/\/uniquehot.com\/2019\/08\/29\/bitcoin-price-btc-trend-bearish-sell-rallies\/\" target=\"_blank\" rel=\"noopener noreferrer \">bitcoin<\/a>. ETH price could continue to move down if it breaks the key $165 and $162 supports.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<p>Yesterday, there was a sharp decline in ETH price below the $182 and $180 supports against the US Dollar. The price even closed below the $180 support and the 100 hourly simple moving average. Finally, there was a break below the $170 support and the price traded to a new monthly low near the $164 level. Similarly, there were heavy downsides in bitcoin, <a href=\"https:\/\/uniquehot.com\/2019\/08\/29\/ripple-price-xrp-bearish-scenario-active-btc-eth-nosedives\/\" target=\"_blank\" rel=\"noopener noreferrer \">ripple<\/a>, EOS, and binance coin.<\/p>\n<p>Recently, Ethereum price corrected higher above the $165 and $166 levels. Moreover, there was a break above the 50% Fib retracement level of the recent drop from the $174 high to $164 swing low. However, the upward move was capped by the $170 and $172 resistance levels. It also seems like the price failed to gain traction above the 61.8% Fib retracement level of the recent drop from the $174 high to $164 swing low.<\/p>\n<p>More importantly, there is a declining channel forming with resistance near $169 on the hourly chart of ETH\/USD. The pair is currently trading in a bearish zone below the $170 pivot level. Therefore, the price must climb above the $170 level to start a decent recovery. If there is an upside break above $170, the price could recover towards $174 and $175.<\/p>\n<p>On the downside, the main supports are near the $165 and $164 levels. Besides, the $162 level is also a strong support. Therefore, a downside break below the $162 support could start another major decline in the coming sessions. The next major support is near the $154 and $150 levels.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Ethereum-24.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-394656\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Ethereum-24.png?resize=1828%2C868\" alt=\"Ethereum Price Analysis ETH Chart\" width=\"1828\" height=\"868\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Ethereum-24.png?w=1828 1828w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Ethereum-24.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Ethereum-24.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Ethereum-24.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Ethereum-24.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Ethereum-24.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Ethereum-24.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, Ethereum price is facing a lot of hurdles on the upside near $170 and $174 levels. There are high chances of another drop below $165. However, it won\u2019t be easy for the bears to gain momentum below the $164 or $162 support area.<\/p>\n<h2>ETH Technical Indicators<\/h2>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is slowly moving back into the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is slowly moving higher, but it is still below the 50 level.<\/p>\n<p>Major Support Level \u2013 $165<\/p>\n<p>Major Resistance Level \u2013 $170<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ETH price is under a lot of pressure below the $170 and $175 resistances against the US Dollar. The price is likely to decline sharply if it settles below the $165 support area in the near term. There is a declining channel forming with resistance near $169 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a decent recovery if the bulls manage to push the price above the $175 resistance. Ethereum price is trading in a bearish zone versus the US Dollar and bitcoin. ETH price could continue to move down if it breaks the key $165 and $162 supports. Ethereum Price Analysis Yesterday, there was a sharp decline in ETH price below the $182 and $180 supports against the US Dollar. The price even closed below the $180 support and the 100 hourly simple moving average. Finally, there was a break below the $170 support and the price traded to a new monthly low near the $164 level. Similarly, there were heavy downsides in bitcoin, ripple, EOS, and binance coin. Recently, Ethereum price corrected higher above the $165 and $166 levels. Moreover, there was a break above the 50% Fib retracement level of the recent drop from the $174 high to $164 swing low. However, the upward move was capped by the $170 and $172 resistance levels. It also seems like the price failed to gain traction above the 61.8% Fib retracement level of the recent drop from the $174 high to $164 swing low. More importantly, there is a declining channel forming with resistance near $169 on the hourly chart of ETH\/USD. The pair is currently trading in a bearish zone below the $170 pivot level. Therefore, the price must climb above the $170 level to start a decent recovery. If there is an upside break above $170, the price could recover towards $174 and $175. On the downside, the main supports are near the $165 and $164 levels. Besides, the $162 level is also a strong support. Therefore, a downside break below the $162 support could start another major decline in the coming sessions. The next major support is near the $154 and $150 levels. Looking at the chart, Ethereum price is facing a lot of hurdles on the upside near $170 and $174 levels. There are high chances of another drop below $165. However, it won\u2019t be easy for the bears to gain momentum below the $164 or $162 support area. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly moving back into the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is slowly moving higher, but it is still below the 50 level. Major Support Level \u2013 $165 Major Resistance Level \u2013 $170<\/p>\n","protected":false},"author":67,"featured_media":328919,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[8323,1946],"class_list":["post-394655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum Price (ETH) Testing Crucial Support But Recovery Won\u2019t Be Easy<\/title>\n<meta name=\"description\" content=\"Ethereum price is trading in a bearish zone versus the US Dollar and bitcoin. 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ETH price could continue to move down if it breaks the key $165 and $162 supports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/ethereum-price-eth-testing-crucial-support-but-recovery-wont-be-easy\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-30T03:08:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:24:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/04\/techanalysis-eth3.jpg?fit=1200%2C600\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Aayush Jindal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@twitter.com\/AayushJs\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aayush Jindal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-price-eth-testing-crucial-support-but-recovery-wont-be-easy\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-price-eth-testing-crucial-support-but-recovery-wont-be-easy\/\"},\"author\":{\"name\":\"Aayush Jindal\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/1f8631be4d0868de3fd2f21f17d9ae70\"},\"headline\":\"Ethereum Price (ETH) Testing Crucial Support But Recovery Won\u2019t Be Easy\",\"datePublished\":\"2019-08-30T03:08:29+00:00\",\"dateModified\":\"2024-06-11T13:24:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-price-eth-testing-crucial-support-but-recovery-wont-be-easy\/\"},\"wordCount\":429,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-price-eth-testing-crucial-support-but-recovery-wont-be-easy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/04\/techanalysis-eth3.jpg?fit=1200%2C600\",\"keywords\":[\"ETH\",\"ethereum\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/uniquehot.com\/news\/ethereum-price-eth-testing-crucial-support-but-recovery-wont-be-easy\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-price-eth-testing-crucial-support-but-recovery-wont-be-easy\/\",\"url\":\"https:\/\/uniquehot.com\/news\/ethereum-price-eth-testing-crucial-support-but-recovery-wont-be-easy\/\",\"name\":\"Ethereum Price (ETH) Testing Crucial Support But Recovery Won\u2019t Be Easy\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-price-eth-testing-crucial-support-but-recovery-wont-be-easy\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-price-eth-testing-crucial-support-but-recovery-wont-be-easy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/04\/techanalysis-eth3.jpg?fit=1200%2C600\",\"datePublished\":\"2019-08-30T03:08:29+00:00\",\"dateModified\":\"2024-06-11T13:24:54+00:00\",\"description\":\"Ethereum price is trading in a bearish zone versus the US Dollar and bitcoin. 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