I used the following indicators in churning the following Ethereum analysis: Hourly MACD, which at the moment is losing momentum towards the bullish zone. Hourly RSI for ETH/USD pair which is presently beyond the 50% level and with several positive signs.  The major resistance level and the major support level are $155 and $142 respectively.

Ethereum is showing slight chances of an upside recovery against the US Dollar. Which further proves the third week of performing in sync with Bitcoin. The altcoin’s price <a href="https://www.cryptoknowmics.com/crypto/ethereum-eth-price-consolidating-loses-will-it-recover/" target="_blank" rel="noopener">could</a> rise into a more bullish zone incase it breaks beyond the $155 resistance.
<h2>Ethereum Price Analysis</h2>
Ethereum hit a sharp decline on yesterday’s 24-hour chart and slightly below the $150 and $155 support levels against the US Dollar. Furthermore, Ethereum’s price floated for a while below the $155 pivot support and the100- hourly SMA.

The coin has been trading below the $140 support area but somehow settled at the $146 per ETH price point. Meanwhile, also formed a new multi-month low support around the $132 level. The price began an upward correction above the $138 as well as the $140 resistance levels.

Moreover, the coin breached yesterday's key bearish trend line near $145 on the hourly ETH/USD Pair chart. Additionally, the price would surge beyond the $150 level, but unfortunately struggled to climb beyond the 100-hourly simple moving average. Presently, Ethereum is <a href="https://www.forbes.com/sites/tomrodgers1/2019/04/26/experts-on-ethereum-price-as-key-158-broken-do-we-hodl-or-sell/" target="_blank" rel="noopener">trimming gains</a> under the $150 level. On the other hand regarding Fib retracement. The altcoin broke below the 23.6% Fibonacci retracement level of the recent increase from a $132 low to a $152 high. 

A closer glance on the daily 24-hour chart could reveal a bullish flag pattern forming around the $150 level but with resistance. In case of an upside break beyond the next two support levels above $150, the price could retest the key downtrend point around $155. 

Nevertheless, for a strong recovery, a successful daily close beyond the $155 resistance is necessary.  Above the $155, the next major resistances are near $168 and $170. An initial support has however formed on the downside near the $144 support level. 

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Ethereum Gradual Correction but Downtrend Momentum Intact

Ethereum analysis: ETH is showing slight chances of an upside recovery against the US Dollar. Further proving third week of performing in sync with BTC

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

Ethereum Gradual Correction but Downtrend Momentum Intact

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