Can Ethereum Price Still Recover This Week After Failing To Break Over The $180?

The digital currency market started this week in a bullish way. Over the past weekend, almost all the top digital currencies in the market lost a significant fraction of their values. They all plunged deep in the red. However, the start of the new week was pretty bullish and almost all the digital currencies in the market were trading in the green.

The price of Bitcoin (BTC) surged significantly and broke the $5,600 resistance level. The price of Ethereum (ETH) also surged higher with an increase of more than 5 percent in less than a day. ETH USD live price surged close to its strong hurdle point, many digital asset investors thought it would break over that level yesterday. The short-term Ethereum price prediction 2019 and Ethereum price forecast are still in view.

The Price of Ethereum Almost Broke the Short-Term Ethereum Price Prediction 2019

The Ethereum price trend in yesterday’s early trading hours was very impressive. The price of Ethereum was just heading north and sailing in the green. However, the major challenge Ethereum price had was the $180 level – which is our short-term Ethereum price prediction for this week. The $180 level has acted as resistance for Ethereum (ETH) over the past couple of days. With the price trend of Ethereum yesterday, we believed that the digital currency was going to end the day with a break over the $180 resistance level. Nevertheless, that did not happen. The bulls were not strong enough to push the value of Ethereum (ETH) over that level, and the price of Ethereum plunged towards the $170 level. Eth price even soared to the high of $179 before it plunged lower.

Ethereum Price Analysis – Ethereum Price Prediction 2019 – Ethereum Price Forecast – ETH USD Live Price

Ethereum (ETH) was trading around the $170 level before the fresh upward trend started. The price of Ethereum broke over the $172 barrier against the USD. ETH USD live price surged over the 100-hourly simple moving average and the $172 mark. The increase in the market was contagious, as Bitcoin (BTC) surged over the $5,600 level also. This increase in BTC USD live price resulted in an increase in the price of Ethereum. It pushed the value of Ethereum over the $175 resistance level.

Ethereum (ETH) Price Today – ETH / USD

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The bulls were able to push the price of Ethereum over the $178 level and it traded at $179. But Ethereum USD live price lacked the momentum required to break over the $180 level. Ethereum formed a swing high close to the $179 level before it started correcting lower. The price of Ethereum plunged lower and broke several support levels. It broke below the $177, $175, $172, and $170 support level. Ethereum price is now back in a bearish territory.

Eth Price Now

Ethereum price even plunged below the $168 support level and traded close to the $166 support level. The digital currency formed a swing low close to the $167 level before it started correcting higher again. At the moment, Ethereum USD live price is hovering around the $170 level. The immediate hurdle of the coin is now at the $173 level. A break over this level might pave the way for more gains towards the $180 level. Ethereum price is currently supported at the $169 level. If it breaks below this level, the next major support is at the $166 level.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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