Ethereum Price (ETH) Primed To Revisit $190, Bears In Control

THELOGICALINDIAN - Ethereum amount is currently trading with a bearish bent against the US Dollar and bitcoin ETH amount ability abide to accelerate as continued as it is beneath 215 and 220

Ethereum Price Analysis

This week, Ethereum amount mostly traded with a bearish bent beneath $230 adjoin the US Dollar. The ETH/USD brace bankrupt a few important supports abreast $220 and $215 to access a bearish zone. Moreover, there was a abutting beneath the $220 akin and the 100 alternate simple affective average. The amount is currently beneath a lot of burden and it alike bankrupt the $208 abutment level.

The beasts are currently arresting the $200 abutment area, but the amount charcoal at a accident of added losses. An actual attrition is abreast the $210 level. The 50% Fib retracement akin of the contempo abatement from the $220 aerial to $200 low is additionally abreast the $210 akin to act as a resistance. The abutting key attrition is abreast the $215 level. Moreover, there is a above bearish trend band basic with attrition abreast $214 on the alternate blueprint of ETH/USD.

The 61.8% Fib retracement akin of the contempo abatement from the $220 aerial to $200 low ability additionally act as a attrition abreast the $212 level. Therefore, the amount is acceptable to face a lot of hurdles abreast the $210, $212 and $215 levels. If there is a acknowledged breach aloft the $215 resistance, there are affairs of a beginning access in the abreast term.

On the added hand, if the amount fails to breach the $210 or $215 resistance, it could abide to move down. An actual abutment is abreast the $200 level, beneath which there is a accident of added losses.

Looking at the chart, Ethereum amount is acutely trading with a bearish bent beneath $210. Therefore, it may anon breach the $200 abutment and extend its decline. The abutting ambition for the bears could be the $190 abutment area.