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21 November 2018 15:53
The price of Ether failed to recover above the key resistance against the US dollar and bitcoin. The ETH / USD may decrease again as long as it will be less than $ 140.00 and $ 145.00.
Key points
The price of Ether failed to break the key resistance of $ 145.00 and fell against the US dollar.
A fundamental bearish trend line is formed with resistance at $ 182.06 on the 2-hour chart of Eth / USD.
ETH / BTC settled below the 0.0300BTC support level and could further flow.
Technically, the 2-hour chart indicators are struggling to move higher in bearish territory.
Price analysis of the ether
Yesterday, ETH / USD started a decent rebound after testing the $ 125.00 support. The pair corrected above the $ 140.00 level, but faced strong resistance near the $ 145.00 zone and subsequently cut most of the gains.
ETH / BTC have settled below the 0.0300BTC support level, with a bearish angle. If the pair fails to trade above 0.0300BTC and 0.0305BTC, it may fall further towards the 0.0285BTC support.
Looking at the 2-hour chart of Eth / USD, the pair recovered abruptly from the $ 125.16 minimum. He climbed above $ 135.00 and $ 140.00 levels, but he faced the key resistance near $ 145.00 and the Fibonacci retracement level to 61.8% of the decline from $ 159.31 to $ 125.16 .
More importantly, Ether was rejected near a crucial bearish trend line, with current resistance at $ 182.06 on the same chart. The price has declined and the support level of $ 125.00 has been repeated. A new low of 2018 stood at $ 124.96 and the price is currently consolidating above $ 130.00.
The ether has been trading above the $ 135.00 level recently and the Fibonacci retracement level to 50% of the recent decline from $ 147.63 in high to $ 124.96 in low. However, the $ 140.00 level and a downward trendline on the 30 minute chart acted like resistance.
The price is currently under pressure below $ 140.00 and could slip towards $ 130.00, below which the next major support awaits $ 125.00. Conversely, to begin a solid upward move, the ETH / USD must break resistance levels $ 140.00 and $ 145.00 in the next sessions.
Important resistance levels
$ 140.00 and $ 145.00
Important support levels
$ 130.00 and $ 125.00
2 hours RSI
The RSI is still below level 40.
MACD at 2 hours
The MACD is struggling to get back into the bullish zone.
Aayush spent over seven years as a contributor and observer of the financial markets. He specialized in market strategies and technical analysis. It strives to provide entertaining and informative analyzes on the currency and commodity markets. He is a software engineer by profession and loves blogs.
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