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{"id":407690,"date":"2019-12-18T03:08:06","date_gmt":"2019-12-18T03:08:06","guid":{"rendered":"https:\/\/uniquehot.com\/?p=407690"},"modified":"2024-06-11T13:35:24","modified_gmt":"2024-06-11T13:35:24","slug":"ethereum-bitcoin-takes-hit-what-does-this-mean-for-this-bulls","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-bitcoin-takes-hit-what-does-this-mean-for-this-bulls\/","title":{"rendered":"Ethereum & Bitcoin Takes Hit, What Does This Mean For This Bulls?"},"content":{"rendered":"

Ethereum is down 5% again today and it broke the $130 support area against the US Dollar.<\/li>\n
The price is now trading near key support levels such as $120 and $122.<\/li>\n
There is a short term bearish trend line forming with resistance near $126 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The price could start a decent recovery towards $130 or even $135 as long as it is above $120.<\/li>\n
Similarly, bitcoin<\/a> dived more than 4% and tested the $6,600-$6,500 support area.<\/li>\n<\/ul>\n
Ethereum price is trading near major supports after a strong decline versus the US Dollar, similar to bitcoin. ETH price must stay above $120 to start a solid recovery.<\/em><\/p>\n
Ethereum Price Analysis<\/h2>\nThere were additional losses witness in Ethereum below the $130 support area<\/a> against the US Dollar. It seems like all bearish targets as discussed in the weekly forecast for ETH price were achieved such as $132 and $125.<\/p>\n
Moreover, the price gained bearish momentum below the $125 support and settled well below the 100 hourly simple moving average. It opened the doors for more losses and the price traded towards the key $122 and $120 support levels.<\/p>\n
A new monthly low was formed near $120 and the price is currently correcting higher. Ethereum already surpassed the 23.6% Fib retracement level of the recent slide from the $132 high to $120 low.<\/p>\n
However, the price is now approaching the $125-$126 resistance area. Besides, there is a short term bearish trend line forming with resistance near $126 on the hourly chart of ETH\/USD.<\/p>\n
The trend line is close to the 50% Fib retracement level of the recent slide from the $132 high to $120 low. Therefore, the price must surpass the $125-$126 resistance zone to recover further.<\/p>\n
The next major resistance could be near the $130 level (the recent breakdown support). If there are any additional gains, the bulls are likely to target the $135 resistance area and the 100 hourly simple moving average.<\/p>\n
Conversely, the bulls might struggle to clear the $125-$126 resistance area. In the mentioned case, there is a risk of a fresh decline below the $120 support area in the near term.<\/p>\n
$\"Ethereum$ <\/a>
Ethereum Price<\/figcaption><\/figure>\n
Looking at the chart<\/a>, Ethereum price is holding the $120 support and correcting higher. Having said that, the bears are still in control unless the bulls make an effort to push the price back above $126 and $130 to start a recovery.<\/p>\n
ETH Technical Indicators<\/h2>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is about to move into the bullish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is currently correcting higher and moving towards the 40 level.<\/p>\n
Major Support Level \u2013 $120<\/p>\n
Major Resistance Level \u2013 $126<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum is down 5% again today and it broke the $130 support area against the US Dollar. The price is now trading near key support levels such as $120 and $122. There is a short term bearish trend line forming with resistance near $126 on the hourly chart of ETH\/USD (data feed via Kraken). The price could start a decent recovery towards $130 or even $135 as long as it is above $120. Similarly, bitcoin dived more than 4% and tested the $6,600-$6,500 support area. Ethereum price is trading near major supports after a strong decline versus the US Dollar, similar to bitcoin. ETH price must stay above $120 to start a solid recovery. Ethereum Price Analysis There were additional losses witness in Ethereum below the $130 support area against the US Dollar. It seems like all bearish targets as discussed in the weekly forecast for ETH price were achieved such as $132 and $125. Moreover, the price gained bearish momentum below the $125 support and settled well below the 100 hourly simple moving average. It opened the doors for more losses and the price traded towards the key $122 and $120 support levels. A new monthly low was formed near $120 and the price is currently correcting higher. Ethereum already surpassed the 23.6% Fib retracement level of the recent slide from the $132 high to $120 low. However, the price is now approaching the $125-$126 resistance area. Besides, there is a short term bearish trend line forming with resistance near $126 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the recent slide from the $132 high to $120 low. Therefore, the price must surpass the $125-$126 resistance zone to recover further. The next major resistance could be near the $130 level (the recent breakdown support). If there are any additional gains, the bulls are likely to target the $135 resistance area and the 100 hourly simple moving average. Conversely, the bulls might struggle to clear the $125-$126 resistance area. In the mentioned case, there is a risk of a fresh decline below the $120 support area in the near term. Looking at the chart, Ethereum price is holding the $120 support and correcting higher. Having said that, the bears are still in control unless the bulls make an effort to push the price back above $126 and $130 to start a recovery. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is about to move into the bullish zone. Hourly RSI – The RSI for ETH\/USD is currently correcting higher and moving towards the 40 level. Major Support Level \u2013 $120 Major Resistance Level \u2013 $126<\/p>\n","protected":false},"author":67,"featured_media":169119,"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-407690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\nEthereum & Bitcoin Takes Hit, What Does This Mean For This Bulls?<\/title>\n<meta name=\"description\" content=\"Ethereum price is trading near major supports after a strong decline versus the US Dollar, similar to bitcoin. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum & Bitcoin Takes Hit, What Does This Mean For This Bulls?","url":"http:\/\/uniquehot.com\/news\/ethereum-bitcoin-takes-hit-what-does-this-mean-for-this-bulls\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum-bitcoin-takes-hit-what-does-this-mean-for-this-bulls\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/02\/Ethereum_Price_ETH_USD_Analysis5.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/02\/Ethereum_Price_ETH_USD_Analysis5.jpg?fit=1200%2C741"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum"],"dateCreated":"2019-12-18T03:08:06Z","datePublished":"2019-12-18T03:08:06Z","dateModified":"2024-06-11T13:35:24Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum & Bitcoin Takes Hit, What Does This Mean For This Bulls?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum-bitcoin-takes-hit-what-does-this-mean-for-this-bulls\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum-bitcoin-takes-hit-what-does-this-mean-for-this-bulls\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2018\\\/02\\\/Ethereum_Price_ETH_USD_Analysis5.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2018\\\/02\\\/Ethereum_Price_ETH_USD_Analysis5.jpg?fit=1200%2C741\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\"],\"dateCreated\":\"2019-12-18T03:08:06Z\",\"datePublished\":\"2019-12-18T03:08:06Z\",\"dateModified\":\"2024-06-11T13:35:24Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/02\/Ethereum_Price_ETH_USD_Analysis5.jpg?fit=1200%2C741","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/407690"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=407690"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/407690\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/169119"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=407690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=407690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=407690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}