Ethereum Price Weekly Forecast: ETH Trading Near Crucial Juncture

ETH price remained in a bearish zone and even tested the $180 support area against the US Dollar.
The price is currently correcting higher, but it is facing hurdles near $192 and $195.
There is a significant bearish trend line forming with resistance near $192 on the 4-hours chart of ETH/USD (data feed via Kraken).
An upside break above $192 and $195 might trigger a solid recovery in the near term.

Bitcoin is About to Test a Crucial Support Level After Intense Overnight Volatility
Thursday February 13, 2020

Bitcoin (BTC) found itself caught in the throes of intense volatility over the past several hours, with its recent bout of sideways trading within the mid-$10,300 region resulting in a major overnight drop down...

The post Bitcoin is About to Test a Crucial Support Level After Intense Overnight Volatility appeared first on 12bitplay - Bitcoin Play.

Ethereum price is currently facing a strong resistance against the US Dollar and bitcoin. ETH remains at a risk of more downsides until there is a daily close above $200.
Ethereum Price Weekly Analysis
This past week, there were bearish moves in ETH below the $210 and $200 supports against the US Dollar. Moreover, the price settled below the $200 level and the 100 simple moving average (4-hours). Additionally, there were bearish moves in bitcoin below $10,000 and ripple price settled below the key $0.290 support level. At the moment, the market is correcting higher, but facing many hurdles such as ETH near the $192 and $195 levels.
Ethereum price traded as low as $180 recently and it is currently correcting higher. It recovered above the 50% Fib retracement level of the recent decline from the $204 high to $180 swing low. However, the upward move was capped by the $195 resistance area. Moreover, the 61.8% Fib retracement level of the recent decline from the $204 high to $180 swing low acted as a resistance.
It seems like there is a strong resistance forming near $192 and $195. More importantly, there is a significant bearish trend line forming with resistance near $192 on the 4-hours chart of ETH/USD. The main resistance is near the $198 and $200 levels. The 100 simple moving average (4-hours) is also positioned near the $200 level. Therefore, an upside break above the $200 level might trigger a strong recovery.
Conversely, if there is no upside break above $195 or $198, the price could is likely to continue lower. An immediate support is near the $185 level. However, the main support is near the $180 level, below which there is a risk of a sharp decline in the near term.

Ripple (XRP) Rally Remains Attractive To The Bears If Price Surges To $0.31
Tuesday February 18, 2020

Ripple found support near $0.2680 and recovered slightly against the US Dollar. XRP price could continue to rise, but the bears are likely to protect the $0.3100 resistance area. Ripple price is slowly correcting...

The post Ripple (XRP) Rally Remains Attractive To The Bears If Price Surges To $0.31 appeared first on 12bitplay - Bitcoin Play.

The above chart indicates that Ethereum price is clearly trading near a crucial juncture at $192. If there is an upside break, the price could start a decent recovery. If not, there are chances of another bearish wave below $180.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is showing no positive signs in the bearish zone.
4 hours RSI – The RSI for ETH/USD is currently near the 45 level, with a bearish angle.
Major Support Level – $180
Major Resistance Level – $198
The post Ethereum Price Weekly Forecast: ETH Trading Near Crucial Juncture appeared first on NewsBTC.

Bitcoin Highly Bullish Despite Selloff; Here’s What Could Propel it to $11,000
Sunday February 16, 2020

Bitcoin corrected lower sharply from the $10,500 resistance against the US Dollar. However, BTC is still above the key $9,800 support and it could soon rally again. After trading to a new 2020 high,...

The post Bitcoin Highly Bullish Despite Selloff; Here’s What Could Propel it to $11,000 appeared first on 12bitplay - Bitcoin Play.

You may also like...