Ethereum (ETH) price analysis: ETH/USD retreats from recent high amid lack of upside momentum

  • A move above $180.00 is needed to improve the short-term technical picture.
  • The significant support is created on approach to 172.50.

The second-largest cryptocurrency with the current market capitalization of $19.1 has been moving in lockstep with Bitcoin and all major altcoins. ETH/USD has gained over 3.5% in recent 24 hours to trade at $177.50 at the time of writing. While the further upside looks limited, the growth may be resumed after a short period of consolidation, provided that Bitcoin continues moving within the bullish trend.

Ethereum’s technical picture

Looking technically, ETH/USD has retreated from the recent high of $181.88, which means that ETH bulls are not strong enough to extend the upside. We will need to see a sustainable move above at least $180.00 for the recovery to gain traction and allow for a strong movement towards the next resistance at $184.00. This barrier is strengthned by SMA50 (Simple Moving Average) 100 on 4-hour chart.

On the downside, a sustainable move below $173.00 handle will open up the way towards $172,50 ( the middle line of 4-hour Bollinger Band) and erase all recent gains of the coin. If this is the case, critical $170.00 will come into focus again.

ETH/USD, 4-hour chart


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin resumes the decline after a consolidation period

Bitcoin crashed below $8,700 and tested $8,550 during early Asian hours on Thursday. The coin moved outside the recent range and extended the downside into the end of the week. BTC/USD has lost 2% since the beginning of the day and 1% in recent 24 hours. 

More Bitcoin News

Altcoin segment: bullish war drums

Sunny King, the creator of the consensus protocol Proof of Stake (PoS), has stated in a recent interview that Bitcoin has a vital role as a reference value in the crypto-verse, but that the highest growth potential is in the Altcoin segment.

More Cryptocurrencies News

ETH/USD hovers around $185.00, vulnerable to further losses

ETH/USD is trading at $185.27 at the time of writing, having recovered from the intraday low of $184.11. The second-largest digital asset with the current market value of $18.8 billion has lost 1.34% of its value since the beginning of Thursday and stayed mostly unchanged on a day-to-day basis. 

More Ethereum News

Ripple price prediction: XRP/USD smashes below critical support of $0.2700 – Confluence Detector

Ripple’s XRP extended thee sell-off to $0.2633 on Thursday. The coin is moving in sync with the market, controlled by bearish sentiments. A sustainable move below $0.2700 support bodes ill for XRP's short-term forecast, making it vulnerable to further losses.

More Ripple News


Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast