News

Ethereum Price Analysis: Is Eth Losing Stream?

Ethereum is one of the top cryptocurrency, it has the second highest market capitalization after Bitcoin.

Ethereum price is following a declining structure against the US Dollar and Bitcoin. However, if Ethereum breaks $140, there could be a positive wave towards the $145 level.

After keeping a pace in between the $133 and the $134 resistance, ETH price came down slowly against the US Dollar. Ethereum price saw a gradual decrease from March 6 to March 12, 2019. On March 7, it reached a high value of nearly $139 and experienced a low value of $132 five days later. At the time of writing, it was trading upwards.

Today the price was standing at $133 and struggling to cross $134. Furthermore, Ethereum could be either above the $134 or even go below the $130 support. If there is an upside movement above $134 and hourly SMA, the price could go higher. The next resistance area is near the $135 and $136 levels, followed by $138. Also, a price below the $130 may drive the price towards the $127 range level.

ethereum charts

By analyzing the chart, we can notice ETH price seems to be facing strong resistance near the $134 level and the 100 hourly SMA. Besides, the $133 and $134 levels are also important barriers. Therefore, users need to show a strong fight if they have to accelerate the price back in a positive zone.

What is your opinion on the Ethereum Price analysis? Share your thoughts and let us know in our comments.

Tags
Show More

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also
Close
Back to top button
Close
Close