Ethereum Price Analysis: ETH Turned Vulnerable Below $140

Ethereum Price Analysis: ETH Turned Vulnerable Below $140

11:34pm, 18th March, 2019
ETH price failed to climb above the $140-141 resistance area and declined against the US Dollar. The price even broke the $137 support level and traded to a new weekly low near $135. This is a major bearish trend line formed with resistance at $140 on the hourly chart of ETH/USD (data feed via Kraken). The pair may extend the current downside correction if it fails to surpass the $140 resistance area. Ethereum price is slowly moving into a bearish zone against the US Dollar and . ETH is now at a risk of a bearish reaction if it fails to climb above the $140 hurdle. Ethereum Price Analysis Yesterday, we saw the start of a downside correction in ETH price from the $144 swing high against the US Dollar. The ETH/USD pair declined below the $140 support level and traded close to the $137 level. Later, there was an upside correction, but the price failed to clear the $140-141 resistance area. The price also failed to climb above the 61.8% Fib retracement level of the last slide from the $144 swing high to $137 swing low. As a result, there was a fresh drop and the price even broke the $137 support level. A new weekly low was formed near the $135 level and the price is . It moved above the $137 level and the 100 hourly simple moving average. There was a break above the 50% Fib retracement level of the recent decline from the $141 high to $135 swing low. However, there is a strong resistance formed near the $140 and $141 levels. There is also a major bearish trend line formed with resistance at $140 on the hourly chart of ETH/USD. An immediate resistance is just below $140 and near the 61.8% Fib retracement level of the recent decline from the $141 high to $135 swing low. To resume the last bullish wave, the price must break the $140 resistance and the trend line. If buyers fail to push the price higher, there are chances of a fresh drop below the $135 swing low. Looking at the , ETH price is currently correcting the last week’s gains from the $128 swing low. It is approaching a couple of important supports such as $135 and $136. Having said that, if it fails to climb above the $140-141 resistance area, there is a risk of a downside correction below $135. ETH Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD spiked above the 50 level and it is currently moving higher towards 60. Major Support Level – $135 Major Resistance Level – $140 The post appeared first on .
Ripple Price Analysis: XRP/USD Turned Bearish Below $0.5500

Ripple Price Analysis: XRP/USD Turned Bearish Below $0.5500

2:55am, 3rd October, 2018
Key Highlights Ripple price failed to hold the $0.5520 and $0.5500 support levels and declined sharply against the US dollar. There was a break below an important bullish trend line with support at $0.5420 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair tested the $0.5000-0.5020 support and it is currently consolidating losses. Ripple price is under bearish pressure against the US Dollar and Bitcoin. XRP/USD could correct higher, but the previous support at $0.5500 may now prevent gains. Ripple Price Analysis Yesterday, we discussed about a couple of near the $0.5520 level for Ripple price against the US Dollar. The XRP/USD pair recently faced an increased selling pressure and broke the $0.5520 support. The decline was such that the price even broke the $0.5500 support and the 100 hourly simple moving average. Sellers even managed to clear the last major swing low at $0.5320. More importantly, there was a break below an important bullish trend line with support at $0.5420 on the hourly chart of the XRP/USD pair. The pair surpassed the $0.5200 level and traded close to the $0.5000 support. A low was formed at $0.5022 and the price is currently consolidating losses. An initial resistance is the 23.6% fib retracement level of the recent drop from the $0.6190 swing high to $0.5022 low. However, it seems like the price may correct towards the $0.5500 level, which is likely to act as a . Moreover, the 50% fib retracement level of the recent drop from the $0.6190 swing high to $0.5022 low is at $0.5600. Looking at the , ripple price remains sell on rallies near the $0.5500 and $0.5600 levels. On the downside, if the price breaks the $0.5000 support, there could be more losses towards $0.4800. Looking at the technical indicators: Hourly MACD – The MACD for XRP/USD is now placed in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is well below the 40 level. Major Support Level – $0.5000 Major Resistance Level – $0.5300 The post appeared first on .