LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
No Result
View All Result
Ethereum Price
Altcoin News

Ethereum Price Analysis: ETH Holding Uptrend Support, $1,130 Is The Key

by Aayush Jindal
January 12, 2021
in Altcoin News, News, Trading
Share
logo

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000

Sign up
  • Ethereum price declined heavily after trading to a new yearly high at $1,350 against the US Dollar.
  • ETH price is currently trading well above $1,000 and the 55 simple moving average (4-hours).
  • There is a crucial bullish trend line forming with support near $920 on the 4-hours chart (data feed from Coinbase).
  • The pair is likely to continue higher if it clears the $1,125 and $1,130 resistance levels in the coming sessions.

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.

Ethereum Price Analysis

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).

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.

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.

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).

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.

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.

Ethereum Price
Ethereum Price

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.

Technical indicators

4 hours MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is now just below the 50 level.

Key Support Levels – $1,000, followed by the $920 zone.

Key Resistance Levels – $1,130 and $1,200.

Related Posts

Ethereum Price
Altcoin News

Ethereum Price Analysis: ETH Could Take Major Hit Below $1,600

Ethereum price is struggling below the $1,650 resistance against the US Dollar. ETH price is now trading below $1,600...

by Aayush Jindal
September 26, 2023
Brandon Mintz of Bitcoin Depot on the Many Changes to the ATM Industry
Bitcoin ATMs

Brandon Mintz of Bitcoin Depot on the Many Changes to the ATM Industry

Brandon Mintz is the CEO of Bitcoin Depot, one of the largest crypto ATM firms in the world. He...

by Nick Marinoff
September 25, 2023
Bitcoin Suisse Sees Big Things Happening for Crypto Soon
Bitcoin News

Alyse Killeen: Bitcoin is Becoming Much More Mainstream

Is bitcoin – the world’s number one digital currency by market cap – finally gaining mainstream traction and attention?...

by Nick Marinoff
September 25, 2023
Six Additional BTC ETF Applications Are Being Examined by the SEC
Bitcoin News

Mike Novogratz: A Bitcoin ETF is Right Around the Corner

Mike Novogratz – the billionaire hedge fund manager of Galaxy Digital and one of the biggest BTC bulls the...

by Nick Marinoff
September 25, 2023

Top Casinos

Crypto Casinos
Crypto Casinos
Bonus Finder
Bonus Finder

Press Releases

  • Ibiza NXT 2023 – Heading toward a purpose-driven Web3 innovation journey

  • Alaya: The Pioneer of Artificial Intelligence Data

  • Zeebu Secures $25 Million in Presale Funding for World’s First On-chain Invoice Settlement...

  • Reef Labs $10M Accelerator Program COHORT 1 Begins, Paving the Way for Web3 Innovators

  • Registration for the Finance Magnates London Summit 2023 is officially open!

About us:

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. We cover BTC news related to bitcoin…

Follow us:

  • This field is for validation purposes and should be left unchanged.

  • About
  • Partners
  • PR
  • Advertising
  • Privacy
  • T&C
  • Contact
  • Trading Software
  • Online Casinos Germany

© 2023 Live Bitcoin News. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise

© 2023 Live Bitcoin News. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.
Go to mobile version