RATE Group | Here’s Ethereum Bears Last Defense, Can Bulls Overcome This Hurdle?
77487
wp-singular,post-template-default,single,single-post,postid-77487,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Here’s Ethereum Bears Last Defense, Can Bulls Overcome This Hurdle?

29 Jan Here’s Ethereum Bears Last Defense, Can Bulls Overcome This Hurdle?

Posted at 12:22h in Ethereum News by

[ad_1]

Ethereum is up 2% and it broke the $175 resistance, while bitcoin rallied 5%. ETH price is now facing a strong resistance near the $178 and $180 levels.

  • There was a steady rise in Ethereum above the $170 and $175 levels against the US Dollar.
  • The price revisited the key $178 resistance area, where the bears took a stand.
  • There is a major ascending channel forming with support near $173 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could rally significantly once there is a close above the $178 and $180 levels.

Ethereum Price Struggling Near $180

This week, there was a slow and steady rise in Ethereum above $170 against the US Dollar. ETH price corrected a few points, but it was able to pop above the $175 resistance and the 100 hourly simple moving average.

Finally, it revisited the key $178 resistance area, where the bears took a stand. A high is formed just below $180 and the price is currently correcting gains. It broke the 23.6% Fib retracement level of the recent gain…

[ad_2]

Source link