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0:00:00 Ethereum Price Weekly Forecast: ETH Approaching Next Crucial Break
0:00:05 This update is brought to you by "CoinCheckup News Updates" and was originally published on "NewsBTC".
0:00:11 ETH price started trading in a range after it failed to surpass the $185 resistance against the US Dollar.
0:00:18 The price is currently trading below the key $180 and $185 resistance levels.
0:00:25 There is a key contracting triangle forming with resistance near $180 on the 4-hours chart of ETH/USD.
0:00:32 The pair is likely to make the next crucial move either above $180 or towards the $160 support.
0:00:39 Ethereum price is setting up for the next crucial break against the US Dollar and bitcoin.
0:00:44 ETH may soon start a solid increase if it breaks the $180 and $185 resistances.
0:00:51 This past week, ETH tested the key $185 resistance area against the US Dollar.
0:00:58 Earlier, the price formed a support base near the $160 level and started an upside correction.
0:01:04 It broke the $165 and $170 resistance levels.
0:01:09 Moreover, there was a break above the 23.6% Fibonacci retracement level of the last major decline from the $225 high to $152 swing low.
0:01:21 However, the price struggled to break the $185 resistance area.
0:01:26 Additionally, the 100 simple moving average acted as a strong resistance near $185. There was also no test the 50% Fibonacci retracement level of the last major decline from the $225 high to $152 swing low.
0:01:42 Recently, the price declined below the $180 level and it is currently trading in a crucial range.
0:01:48 It seems like there is a key contracting triangle forming with resistance near $180 on the 4-hours chart of ETH/USD.
0:01:56 On the upside, there are major hurdles near the $180 and $185 levels.
0:02:02 Therefore, a successful break above the $185 resistance area and the 100 SMA could open the doors for a larger upward move.
0:02:11 The next key resistance for Ethereum is near the $198 and $200 levels.
0:02:17 Thanks for watching this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: "NewsBTC", who originally published this news update on their website.
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