{"id":405427,"date":"2019-11-26T03:08:09","date_gmt":"2019-11-26T03:08:09","guid":{"rendered":"https:\/\/uniquehot.com\/?p=405427"},"modified":"2024-06-11T13:34:30","modified_gmt":"2024-06-11T13:34:30","slug":"ethereum-eth-in-corrective-increase-but-downtrend-intact","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-eth-in-corrective-increase-but-downtrend-intact\/","title":{"rendered":"Ethereum (ETH) In Corrective Increase But Downtrend Intact"},"content":{"rendered":"<ul>\n<li>Ethereum is currently correcting higher from the $132 low against the US Dollar.<\/li>\n<li>Bitcoin price is also recovering and it is now trading above the $7,000 level.<\/li>\n<li>Yesterday\u2019s major bearish trend line was breached with resistance near $145 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The price is likely to correct further higher, but the $155 resistance is likely to act as a hurdle.<\/li>\n<\/ul>\n<p><em>Ethereum price is showing signs of an upside correction versus the US Dollar, similar to <a href=\"https:\/\/uniquehot.com\/2019\/11\/25\/bitcoin-btc-price-nears-possible-short-term-bottom-at-6-5k\/\" target=\"_blank\" rel=\"noopener noreferrer \">bitcoin<\/a>. ETH price could only move into a positive zone once it breaks the $155 resistance.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<p>Yesterday, there was a sharp decline in Ethereum below the $155 and $150 support levels against the US Dollar. Moreover, ETH price settled below the $155 pivot level and the 100 hourly simple moving average.<\/p>\n<p>Finally, the price traded below the $140 support area and a <a href=\"https:\/\/uniquehot.com\/2019\/11\/25\/ethereum-eth-downtrend-gaining-pace-125-next\/\" target=\"_blank\" rel=\"noopener noreferrer \">new multi-month low<\/a> was formed near the $132 level. Recently, the price started an upside correction above the $138 and $140 resistance levels.<\/p>\n<p>Besides, yesterday\u2019s major bearish trend line was breached with resistance near $145 on the hourly chart of ETH\/USD. The price even spiked above the $150 level, but it struggled to climb above the 100 hourly simple moving average.<\/p>\n<p>It is currently trimming gains below $150. Additionally, there was a break below the 23.6% Fib retracement level of the recent upside correction from the $132 low to $152 high.<\/p>\n<p>It seems like there is a bullish flag pattern forming with resistance near the $150 level. If there is an upside break above the $150 and $152 levels, the price could test the main downtrend resistance near the $155 level.<\/p>\n<p>A successful daily close above the $155 resistance is needed for a strong recovery. The next key resistances are near $168 and $170. On the downside, an initial support is near the $144 level.<\/p>\n<p>The first key support is near the $142 area. It represents the 50% Fib retracement level of the recent upside correction from the $132 low to $152 high. Therefore, a downside break below the $142 support area could push the price lower towards the $135 and $132 levels.<\/p>\n<figure id=\"attachment_405428\" aria-describedby=\"caption-attachment-405428\" style=\"width: 1828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/11\/Ethereum-21.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-405428\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/11\/Ethereum-21.png?resize=1828%2C868\" alt=\"Ethereum Price \" width=\"1828\" height=\"868\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/11\/Ethereum-21.png?w=1828 1828w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/11\/Ethereum-21.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/11\/Ethereum-21.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/11\/Ethereum-21.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/11\/Ethereum-21.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/11\/Ethereum-21.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/11\/Ethereum-21.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-405428\" class=\"wp-caption-text\">Ethereum Price<\/figcaption><\/figure>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, Ethereum price is showing a few positive signs, but the $155 resistance is a major hurdle along with the 100 hourly SMA. Only a close above $155 could set the pace for a fresh increase in the near term.<\/p>\n<h2>ETH Technical Indicators<\/h2>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is currently losing momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is currently above the 50 level, with a few positive signs.<\/p>\n<p>Major Support Level \u2013 $142<\/p>\n<p>Major Resistance Level \u2013 $155<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is currently correcting higher from the $132 low against the US Dollar. Bitcoin price is also recovering and it is now trading above the $7,000 level. Yesterday\u2019s major bearish trend line was breached with resistance near $145 on the hourly chart of ETH\/USD (data feed via Kraken). The price is likely to correct further higher, but the $155 resistance is likely to act as a hurdle. Ethereum price is showing signs of an upside correction versus the US Dollar, similar to bitcoin. ETH price could only move into a positive zone once it breaks the $155 resistance. Ethereum Price Analysis Yesterday, there was a sharp decline in Ethereum below the $155 and $150 support levels against the US Dollar. Moreover, ETH price settled below the $155 pivot level and the 100 hourly simple moving average. Finally, the price traded below the $140 support area and a new multi-month low was formed near the $132 level. Recently, the price started an upside correction above the $138 and $140 resistance levels. Besides, yesterday\u2019s major bearish trend line was breached with resistance near $145 on the hourly chart of ETH\/USD. The price even spiked above the $150 level, but it struggled to climb above the 100 hourly simple moving average. It is currently trimming gains below $150. Additionally, there was a break below the 23.6% Fib retracement level of the recent upside correction from the $132 low to $152 high. It seems like there is a bullish flag pattern forming with resistance near the $150 level. If there is an upside break above the $150 and $152 levels, the price could test the main downtrend resistance near the $155 level. A successful daily close above the $155 resistance is needed for a strong recovery. The next key resistances are near $168 and $170. On the downside, an initial support is near the $144 level. The first key support is near the $142 area. It represents the 50% Fib retracement level of the recent upside correction from the $132 low to $152 high. Therefore, a downside break below the $142 support area could push the price lower towards the $135 and $132 levels. Looking at the chart, Ethereum price is showing a few positive signs, but the $155 resistance is a major hurdle along with the 100 hourly SMA. Only a close above $155 could set the pace for a fresh increase in the near term. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is currently losing momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is currently above the 50 level, with a few positive signs. Major Support Level \u2013 $142 Major Resistance Level \u2013 $155<\/p>\n","protected":false},"author":67,"featured_media":344604,"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-405427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum (ETH) In Corrective Increase But Downtrend Intact<\/title>\n<meta name=\"description\" content=\"Ethereum price is showing signs of an upside correction versus the US Dollar, similar to bitcoin. 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ETH price could only move into a positive zone once it breaks the $155 resistance.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/ethereum-eth-in-corrective-increase-but-downtrend-intact\/\" \/>\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=\"2019-11-26T03:08:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:34:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth4.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-eth-in-corrective-increase-but-downtrend-intact\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-eth-in-corrective-increase-but-downtrend-intact\/\"},\"author\":{\"name\":\"Aayush Jindal\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/1f8631be4d0868de3fd2f21f17d9ae70\"},\"headline\":\"Ethereum (ETH) In Corrective Increase But Downtrend Intact\",\"datePublished\":\"2019-11-26T03:08:09+00:00\",\"dateModified\":\"2024-06-11T13:34:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-eth-in-corrective-increase-but-downtrend-intact\/\"},\"wordCount\":428,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-eth-in-corrective-increase-but-downtrend-intact\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth4.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-eth-in-corrective-increase-but-downtrend-intact\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-eth-in-corrective-increase-but-downtrend-intact\/\",\"url\":\"https:\/\/uniquehot.com\/news\/ethereum-eth-in-corrective-increase-but-downtrend-intact\/\",\"name\":\"Ethereum (ETH) In Corrective Increase But Downtrend Intact\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-eth-in-corrective-increase-but-downtrend-intact\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-eth-in-corrective-increase-but-downtrend-intact\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth4.jpg?fit=1200%2C600\",\"datePublished\":\"2019-11-26T03:08:09+00:00\",\"dateModified\":\"2024-06-11T13:34:30+00:00\",\"description\":\"Ethereum price is showing signs of an upside correction versus the US Dollar, similar to bitcoin. 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