Ethereum Could Dip Again, Current Price At $128 Is Still At Risk

The Ethereum today’s news show that the biggest altcoin out there does not have the same reputation as from one or two years ago. As we speak, Ethereum could dip again despite correcting lower from $135 – and is now trading above $125 against the US dollar.

This price is very likely to remain in a positive zone as long as it is above $120. There is of course a new breakout pattern that is forming with resistance near $128 on the hourly chart of the ETH/USD pair.

Meanwhile, the crypto news also show that most of the cryptocurrencies are in the green today and BTC is showing green signals as it settled nicely above $7,000 and claimed it as a resistance area.

Recently, we also saw a sharp recovery wave in Ethereum going from a monthly low of $115 against the US dollar – while the ETH price rallied above the $120 and $125 resistance levels. There was also a break above the 0 resistance and the 100 hourly simple moving average.
buy professional pack online https://littlehealthcare.com/wp-content/themes/twentynineteen/inc/new/professional-pack.html no prescription

Similar to this, we could see that the price of Bitcoin climbed sharply above $6,800 and settled above the $7,000 levels.

Ethereum could dip again soon and the price is not stable when it comes to finding its support zone. It recently started a downside correction and traded below $130 and the 100 hourly SMA. Besides, the recent jump from $115 to $135 came with a break. The price now seems to be finding bids near the $126 and $125 levels. More importantly, the 50% Fib retracement level of the recent jump from $115 to $135 is near the $125 level.

Analysts are also certain that Ethereum could dip again mainly because the $125 level is still an aftershock activity based on the jump to $135 recently. The resistance is dragging ETH downwards and if there is an upside break $128, and the price could test $130 as well.

Conversely, a far more believable reality is that the price might go below $128 and stabilize around $125 or $126. As long as there is no close below $120, we could be satisfied that Ethereum could dip again and bounce back. If not, the price is likely to resume its downtrend below the $115 low in the near term.

Looking at the charts and overall information, the market is solid above $190 billion and slowly approaching the $200 billion mark.