Ethereum (ETH) Eyes Fresh Rally To $200, Bitcoin Up 3%

THELOGICALINDIAN - Ethereum amount is boring aggressive college against the US Dollar agnate to bitcoin ETH amount is acceptable to acceleration appear the 200 akin as continued as aloft 182

Ethereum Price Analysis

After basic a abutment abject abreast $180, Ethereum started a abiding acceleration aloft $182 adjoin the US Dollar. ETH amount recovered and bankrupt a strong resistance abreast the $185 and $186 levels.

Moreover, there was a abutting aloft the $185 akin and the 100 alternate simple affective average. During the rise, there was a breach aloft yesterday’s accent bearish trend band with attrition abreast $182.

Finally, the amount activated the $190 attrition breadth and it is currently acclimation lower. There was a breach beneath the $188 level, additional the 23.6% Fib retracement akin of the contempo beachcomber from the $179 beat low to $189 beat high.

However, the antecedent attrition abreast the $185 breadth is now acting as a appropriate support. More importantly, there is a new bullish trend band basic with abutment abreast $185 on the alternate blueprint of ETH/USD.

The 50% Fib retracement akin of the contempo beachcomber from the $179 beat low to $189 beat aerial is additionally abreast the trend band to accommodate support. The capital abutment is abreast the $182 akin back it coincides with the 100 alternate SMA.

If Ethereum breach the trend band and trades beneath $182, it could move aback into a bearish zone. On the upside, an actual attrition is abreast the $190 level. If there is a able breach aloft $190, the amount could alpha an access appear the capital $200 attrition area.

Looking at the chart, Ethereum amount is assuming a few absolute signs aloft the $185 abutment area. Having said that, the aisle appear the $200 barrier won’t be easy. If the beasts attempt to bright the $190 and $192 attrition levels, there could be a bearish acknowledgment beneath the $185 support. In the mentioned case, the $182 abutment holds the key.