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.

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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.

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