Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Paglamon on December 31, 2019, 07:49:47 AM
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From cryptocurrency news, I learned that, The price of ETH/USD pair is encountering a bearish pressure as BTC is declining steadily. The price may decline to under $128 if BTC falls under $7,200.
The price encountered a hurdle close to $138 area following a powerful move to the upside over $135. It was topped close to $138 and retraced to under $135 in recent times.
The price visited the support at $130 support and the 100 hourly SMA. It appears that ETH is at the moment into consolidation close to $130 and the 100 hourly SMA. There is a first hurdle close to $132.
A look at the hourly chart of ETH against the USD revealed the formation of a connecting selling trend line with hurdle close to $132. Hence, a surge over the $132 hurdle could begin a powerful upsurge towards the hurdles at $135 and $138.
On the other hand, ETH could struggle to obtain momentum over $132 and $133. If it turns bearish, ETH may struggle to maintain a level over $130 and the 100 hourly simple moving average.
If the price closes under $130 and the 100 hourly simple moving average, the sellers could obtain traction and the price could fall towards the support zone at $125.
Soruce: cryptocurrency News
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I think that the ethereum price movement will depend on the success of introducing improvements to this coin called Ethereum 2.0. There were proposals to do this on the fifth anniversary of this coin on July 30, but Buterin recently said that there is an opportunity to do this much earlier. Until spring, there are unlikely to be significant shifts in the cryptocurrency market in terms of its price. Apparently, all our expectations are already rescheduled in the spring.