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Ethereum Price Weekly Analysis – Can ETH/USD Overcome This?

on January 21, 2018 ethereum news update Weekly analysis

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Janaza Mufti Muhammad Ameen Sb

on January 04, 2018

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Ethereum Price Weekly Analysis – Can ETH/USD Overcome This?

Key Highlights ETH price is trading nicely above the $1000 level and is moving positively against the US Dollar. There is a monster bearish trend line acting as a resistance at $1150 on the 4-hours chart of ETH/USD (data feed via SimpleFX). The pair has to settle above $1150 and the 100 simple moving average (4-hours) to gain traction. Ethereum price has recovered nicely against the US Dollar and Bitcoin. ETH/USD now has to break the $1150 and $1180 level to gain further momentum. Ethereum Price Resistance There was a slow and steady recovery initiated from the $750 swing low in ETH price against the US Dollar. The price gained traction and was able to move above the $900 resistance level. There was also a break above the 23.6% Fib retracement level of the last decline from the $1415 high to $753 low. There are many positive signs on the chart above $1000. However, the price is currently facing a major upside barrier near $1150 and $1180. There is a monster...

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