– <\/strong>The RSI for ETH\/USD is currently declining and it is well near the oversold levels.<\/p>\nMajor Support Level \u2013 $135<\/p>\n
Major Resistance Level \u2013 $147<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum is declining and it recently failed to recover above the $155 resistance against the US Dollar. Bitcoin price is now trading well below the $7,000 level and tested the final $6,500 bearish target. There is a key bearish trend line forming with resistance near $147 on the hourly chart of ETH\/USD (data feed via Kraken). The price is currently trading below $145 and it is likely to trade below the $135 support area. Ethereum price is facing an increase in selling versus the US Dollar, similar to bitcoin. ETH remains at a risk of a drop towards the $125 support area. Ethereum Price Analysis In the weekly forecast, we discussed the chances of another breakdown below $145 in Ethereum against the US Dollar. ETH price remained in a bearish zone, failed to climb above the $155 resistance, and settled well below the 100 hourly simple moving average. As a result, there was a downside break below the $145 support area. The decline was such that the price broke the 76.4% Fib retracement level of the recent recovery from the $138 low to $155 high. Moreover, the price spiked below the $138 low and it is currently struggling to recover. An immediate support is near the $135 level. It represents the 1.236 Fib extension level of the recent recovery from the $138 low to $155 high. If there are more downsides, the price is likely to test the $130 support area. Any further losses may perhaps push Ethereum towards the $125 support area in the near term. An intermediate support is near the 1.618 Fib extension level of the recent recovery from the $138 low to $155 high. On the upside, there are many resistances, starting with $142. Additionally, there is a key bearish trend line forming with resistance near $147 on the hourly chart of ETH\/USD. To start a decent recovery, the price must clear the $142 and $147 resistance levels. However, the main resistance is still near the $155 level and the 100 hourly simple moving average, above which there are high chances of a trend change from bearish to bullish. Looking at the chart, Ethereum price is declining and likely to trade towards the $135 and $130 support levels. The key support zone could be $125, where the bulls are likely to put up a strong fight in the near term. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is currently gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is currently declining and it is well near the oversold levels. Major Support Level \u2013 $135 Major Resistance Level \u2013 $147<\/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-405360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n
Ethereum (ETH) Downtrend Gaining Pace, $125 Next?<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n