{"id":110347,"date":"2021-01-27T06:46:49","date_gmt":"2021-01-27T06:46:49","guid":{"rendered":"https:\/\/precoinnews.com\/?p=110347"},"modified":"2021-01-27T06:46:49","modified_gmt":"2021-01-27T06:46:49","slug":"ta-ethereum-lacks-momentum-above-1350-why-eth-could-correct-to-1180","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-ethereum-lacks-momentum-above-1350-why-eth-could-correct-to-1180\/","title":{"rendered":"TA: Ethereum Lacks Momentum Above $1,350, Why ETH Could Correct To $1,180"},"content":{"rendered":"<p><em>Ethereum is facing resistance near the $1,350 level against the US Dollar. ETH price could continue to move lower towards $1,200 or $1,180 unless it settles above $1,350.<\/em><\/p>\n<ul>\n<li>Ethereum is struggling to gain momentum above $1,350 and $1,375.<\/li>\n<li>The price is now trading well below $1,350 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $1,360 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could extend its decline towards the $1,200 support as long as it is below $1,375.<\/li>\n<\/ul>\n<h2>Ethereum Price is Showing Bearish Signs<\/h2>\n<p>After testing the $1,250 support zone, Ethereum started a fresh increase. ETH broke the $1,300 and $1,320 resistance levels. It even broke the $1,350 level and the 100 hourly simple moving average.<\/p>\n<p>However, the bulls failed to keep the price above $1,350. A high was formed near $1,375 and the price is currently declining. There was a break below the $1,350 support level. Ether is now trading well below $1,350 and the 100 hourly simple moving average.<\/p>\n<p>It is testing the 50% Fib retracement level of the upward move from the $1,246 low to $1,375 high. It seems like there is a key bearish trend line forming with resistance near $1,360 on the hourly chart of ETH\/USD.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/01\/Ethereum-20.png\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>On the downside, an immediate support is near the $1,295 level. It coincides with the 61.8% Fib retracement level of the upward move from the $1,246 low to $1,375 high. The next major support is near the $1,250 level, below which ether could continue to move down towards the $1,200 support zone or even $1,180.<\/p>\n<h2>Upside Break in ETH?<\/h2>\n<p>If Ethereum stays above the $1,295 support zone, there are chances of an upside break above the 100 hourly simple moving average. The first major resistance is near the trend line and $1,350.<\/p>\n<p>A successful close above the trend line resistance and $1,350 could open the doors for a fresh increase. The next major resistance is near the $1,375 level, above which ether price will most likely climb above towards the $1,450 level. The main hurdle on the upside is still near $1,500.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> &ndash; <\/strong>The MACD for ETH\/USD is slowly gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &ndash; <\/strong>The RSI for ETH\/USD is currently well below the 50 level.<\/p>\n<p>Major Support Level &ndash; $1,295<\/p>\n<p>Major Resistance Level &ndash; $1,350<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-lacks-momentum-above-1350\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is facing resistance near the $1,350<\/p>\n","protected":false},"author":3,"featured_media":110346,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TA: Ethereum Lacks Momentum Above $1,350, Why ETH Could Correct To $1,180 - 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