{"id":394768,"date":"2019-09-01T06:00:38","date_gmt":"2019-09-01T06:00:38","guid":{"rendered":"https:\/\/uniquehot.com\/?p=394768"},"modified":"2024-06-11T13:09:27","modified_gmt":"2024-06-11T13:09:27","slug":"ethereum-price-weekly-forecast-eth-remain-sell-until-this-changes","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-price-weekly-forecast-eth-remain-sell-until-this-changes\/","title":{"rendered":"Ethereum Price Weekly Forecast: ETH Remain Sell Until This Changes"},"content":{"rendered":"
Ethereum price is trading in a bearish zone against the US Dollar and bitcoin. ETH might correct higher in the short-term, but the bulls are likely to struggle near $180-$182.<\/em><\/p>\n This past week, there was a strong decline in bitcoin<\/a> and ETH below $10,000 and $180 respectively against the US Dollar. Ether price even declined below the $175 support and the 100 simple moving average (4-hours). Moreover, there was a break below the $170 support and the price traded close to the $163 level. Recently, the price started an upside correction from the $163 swing low.<\/p>\n It climbed above the $170 level plus the 23.6% Fib retracement level of the recent drop from the $195 high to $163 swing low. However, there are many hurdles on the upside near the $178 and $180 levels. Moreover, there is a major bearish trend line<\/a> forming with resistance near $180 on the 4-hours chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the recent drop from the $195 high to $163 swing low.<\/p>\n Above the trend line, the next major resistance is near the $184 level and the 100 SMA. The 61.8% Fib retracement level of the recent drop from the $195 high to $163 swing low is also waiting near the $182 zone to act as a resistance. Therefore, the price must climb above $180, $182 and $184 to move back into a positive zone in the near term.<\/p>\n On the downside, an immediate support is near the $165 level. If the price fails to stay above the $165 support area, there is a risk of more downsides in the near term. In the mentioned bearish case, the price could even decline below the $160 support level.<\/p>\nEthereum Price Weekly Analysis<\/h2>\n