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Ethereum (ETH) Holding Crucial Support While Bitcoin Is Declining

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Ethereum (ETH) Holding Crucial Support While Bitcoin Is Declining

Ethereum price is still struggling to climb above $186, $188 and $190 resistances against the US Dollar.The price is currently declining and it seems like it could retest the $180 support area.There are two major bearish trend lines forming with resistance near $186 on the hourly chart of ETH/USD (data feed via Kraken).Bitcoin is under a lot of pressure and it recently decline below the $8,500 support.Ethereum price is holding an important support versus the US Dollar, while climbing vs Ethereum PriceLooking at the chart, Ethereum price is somehow holding the $180 and $178 levels. On the other hand, bitcoin is declining and it even traded below the $8,500 support level. Therefore, there are high chances of a decent upward move as long as ETH price is trading above the $180 and $178 support levels.ETH Technical IndicatorsHourly MACD The MACD for ETH/USD is slowly gaining pace in the bearish zone.Hourly RSI The RSI for ETH/USD is currently gaining bearish momentum and is well below the 50 level.Major Support Level – $180Major Resistance Level – $186

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Author: Aayush Jindal

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