Ethereum Is Showing Early Signs of Fresh Decline But 100 SMA Holds Key

Ethereum is struggling to gain bullish momentum above the $142 and $144 resistances against the US Dollar. ETH price could start a major decline if it breaks the $135 support.

OKEx Now Lists Orchid (OXT) Token, Spot Trading to Go Live on March 30, 2020
Sunday March 29, 2020

The leading global cryptocurrency derivatives and spot exchange platform OKEx has announced the addition of Orchid (OXT) token to its list of tradable crypto-assets. The utility token is designed for use on the Ethereum...

The post OKEx Now Lists Orchid (OXT) Token, Spot Trading to Go Live on March 30, 2020 appeared first on 12bitplay - Bitcoin Play.

Ethereum is facing an uphill task as the bulls struggle near $135 against the US Dollar.
The price is currently holding the $135 support and the 100 hourly simple moving average.
There is a major bullish trend line forming with support near $135 on the hourly chart of ETH/USD (data feed via Kraken).
Bitcoin price is slowly gaining pace, but it must break the $6,700 and $6,800 resistance levels.

Ripple (XRP) Showing Signs of Weakness But 100 SMA Can Trigger New Rally
Wednesday April 01, 2020

Ripple is still struggling to surpass the $0.1780 resistance area against the US Dollar. XRP price is currently holding the 100 hourly SMA and it could rise again. Ripple price is still facing a...

The post Ripple (XRP) Showing Signs of Weakness But 100 SMA Can Trigger New Rally appeared first on 12bitplay - Bitcoin Play.

Ethereum Price Holding Key Support
In the past three sessions, Ethereum made a couple of attempts to surpass the $142 and $144 resistance levels against the US Dollar. However, ETH price failed to continue above $144 and started a downside correction.
There was a break below the $140 level, plus the 23.6% Fib retracement level of the upward move from the $120 swing low to $144 high. The price even spiked below the $135 support, but the 100 hourly simple moving average acted as a strong support.
The 50% Fib retracement level of the upward move from the $120 swing low to $144 high is also acting as a decent support for the bulls. Besides, there is a major bullish trend line forming with support near $135 on the hourly chart of ETH/USD.
Ethereum Price
Ethereum is clearly trading near a key support at $135 and the 100 hourly SMA. If the bulls fail to defend the $135 support level and the 100 hourly SMA, there is a risk of a sharp decline towards the $130 and $128 levels.
The main support below $130 is near the $120 level, where the bulls are likely to take a stand in the near term.
Chances of a Bullish Break
On the upside, the main hurdles for Ethereum are near the $142 and $144 levels. If the bulls succeed in clearing the $144 resistance, the price is likely to surge above the $145 and $148 levels.
The next resistance is near the $150 level, above which the bulls are likely to aim a test of the $158 level in the coming sessions. Any further gains could lead the price towards $165.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly gaining momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently struggling to stay above the 50 level.
Major Support Level – $135
Major Resistance Level – $144

Ripple (XRP) Rallies 10% and Poised To Test $0.20: Here’s Why
Friday March 27, 2020

Ripple is up around 10% and it broke the key $0.1650 resistance zone against the US Dollar. XRP price remains in a nice uptrend and it could continue to rise towards $0.2000. Ripple price...

The post Ripple (XRP) Rallies 10% and Poised To Test $0.20: Here’s Why appeared first on 12bitplay - Bitcoin Play.

You may also like...