{"id":108132,"date":"2021-01-12T08:11:40","date_gmt":"2021-01-12T08:11:40","guid":{"rendered":"https:\/\/precoinnews.com\/?p=108132"},"modified":"2021-01-12T08:11:40","modified_gmt":"2021-01-12T08:11:40","slug":"ethereum-price-analysis-eth-holding-uptrend-support-1130-is-the-key","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/altcoins\/ethereum-price-analysis-eth-holding-uptrend-support-1130-is-the-key\/","title":{"rendered":"Ethereum Price Analysis: ETH Holding Uptrend Support, $1,130 Is The Key"},"content":{"rendered":"
Ethereum price is recovering nicely from the $920 zone against the US Dollar. ETH\/USD must clear the $1,125 and $1,130 resistance levels to restart the rally to $1,400.<\/em><\/p>\n In the past few days, Ethereum saw a strong increase above the $1,000 barrier against the US Dollar. ETH price broke a couple of important hurdles near $1,150 and $1,200. There was also a clear break above the $1,240 level and a close above the 55 simple moving average (4-hours).<\/p>\n The price traded above the $1,130 zone and formed a new 2021 high near $1,350. Recently, it started a downside correction below the $1,200 and $1,100 levels. The bears took control and there was also a break below the $1,000 support zone.<\/p>\n However, the bulls were able to protect the $900 zone. There is also a crucial bullish trend line forming with support near $920 on the 4-hours chart. The price traded as low as $904 and recently started a fresh increase.<\/p>\n It broke the $1,000 level to move into a positive zone. There was also a break above the 50% Fib retracement level of the downside correction from the $1,168 high to $886 low. On the upside, an initial resistance is near the $1,120 level and the 55 simple moving average (4-hours).<\/p>\n The main resistance is now forming near the $1,125 and $1,130 levels (the last breakdown zone). It is also close to the 50% Fib retracement level of the downside correction from the $1,168 high to $886 low.<\/p>\n If there is a clear break above the $1,125 and $1,130 resistance levels, the price might resume its uptrend. The next major resistance is near the $1,200 level, where the bears might appear. If there is another downside correction, the price might find bids near the $1,000 and $985 levels. The main support on the downside is now forming near the $920 level.<\/p>\n <\/p>\n Ethereum Price<\/p>\n Looking at the chart, Ethereum price is clearly facing hurdles near $1,130 and the 55 simple moving average (4-hours). Overall, ether price is likely to continue higher if it clears the $1,125 and $1,130 resistance levels in the coming sessions.<\/p>\n 4 hours MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for ETH\/USD is now just below the 50 level.<\/p>\n Key Support Levels \u2013 $1,000, followed by the $920 zone.<\/p>\n Key Resistance Levels \u2013 $1,130 and $1,200.<\/p>\nEthereum Price Analysis<\/h2>\n
Technical indicators<\/h2>\n