Ethereum (ETH) Price Smashes Resistance, $200 Now In Sight
technical analysis

Ethereum (ETH) Price Smashes Resistance, $200 Now In Sight

THELOGICALINDIAN - Ethereum amount is assuming a lot of absolute signs against the US Dollar and bitcoin ETH amount is now trading accurately aloft 185 and it could anon analysis 200

Ethereum Price Analysis

After a accessory downside correction, Ethereum started a beginning access from the $175 abutment adjoin the US Dollar. ETH amount surged aloft the $180 and $185 attrition levels. Moreover, there was a abutting aloft the $185 resistance and the 100 alternate simple affective average. The advancement move was such that the amount alike surpassed the $190 akin and traded to a new account aerial abreast $196.

At the moment, the amount is accumulation assets beneath the $195 level. It is trading abreast the 23.6% Fib retracement akin of the contempo assemblage from the $181 low to $196 high. Moreover, there is a abbreviate appellation blemish arrangement basic with abutment abreast $191 on the alternate blueprint of ETH/USD. If there is a downside breach beneath the $191 and $190 levels, the amount could extend its correction.

The abutting key abutment is abreast the $188 level. It coincides with the 50% Fib retracement akin of the contempo assemblage from the $181 low to $196 high. If the amount fails to break aloft $188, it could analysis the $185 abutment breadth (the antecedent attrition area). Additionally, yesterday’s accent bullish trend band with accepted abutment abreast the $186 akin is complete and it is acceptable to accommodate support.

On the upside, an actual attrition is abreast the $195 level. A acceptable breach aloft the $195 akin may conceivably advance the amount appear the abutting important attrition abreast $200, aloft which the amount could alike analysis $205.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum amount is acutely trading in an uptrend aloft the $185 abutment area. In the abbreviate term, there could be a downside alteration appear $190 or $185. Overall, the amount charcoal able-bodied accurate and it is acceptable to abide college aloft the $195 resistance. The abutting stop for the beasts ability be $200 or $205.

ETH Technical Indicators

Hourly MACDThe MACD for ETH/USD is currently abbreviation its bullish slope.

Hourly RSIThe RSI for ETH/USD is currently able-bodied aloft the 60 level, with a lot of absolute signs.

Major Support Level – $190

Major Resistance Level – $195