Ethereum (ETH) Gaining Momentum, $200 Seems Imminent

THELOGICALINDIAN - Ethereum amount is trading in an uptrend aloft 185 against the US Dollar while bitcoin is accumulation ETH amount is acceptable to abide college appear the 200 and 205 levels

Ethereum Price Analysis

After testing the $175 support, Ethereum started a abiding acceleration aloft the $180 resistance. Moreover, there was a breach aloft the $185 attrition and the 100 alternate simple affective average.

The amount alike bankrupt the 61.8% Fib retracement akin of the aftermost bead from the $199 aerial to $174 low. It opened the doors for added assets aloft $190. The amount activated the $194 breadth and it is currently acclimation lower.

An actual abutment is abreast the $188 level. Additionally, the 50% Fib retracement akin of the contempo beachcomber from the $184 low to $193 aerial is additionally abreast the $188 level. More importantly, there is a new bullish trend band basic with abutment abreast $187 on the alternate blueprint of ETH/USD.

There is additionally a new bullish trend band basic with abutment abreast $187 on the alternate blueprint of ETH/USD. The trend band coincides with the 61.8% Fib retracement akin of the contempo beachcomber from the $184 low to $193 high.

Therefore, a downside breach beneath the $187 akin ability advance Ethereum appear the $182 abutment area. The 100 alternate SMA is additionally abreast the $182 akin to accommodate support.

On the upside, an actual attrition is abreast the $195 level. A bright breach aloft the $195 akin could set the clip for added assets aloft the $198 and $200 attrition levels. If there are added upsides, the abutting stop for the beasts may conceivably be abreast the $205-$206 zone.

Looking at the chart, Ethereum amount is acutely aggressive steadily aloft the $188 and $190 levels. Thus, there are aerial affairs of an upside breach aloft the aftermost beat aerial abreast $200. Conversely, if there is a downside correction, the amount could dip appear the $188 abutment area. The capital abutment is now abreast the $182 akin and the 100 alternate SMA.