Ethereum Price (ETH) Signaling Fresh Increase Above $215 & $220

THELOGICALINDIAN - Ethereum amount is assuming absolute signs aloft 205 against the US Dollar and bitcoin recovered aloft 9700 ETH amount could advance college already it break the 215 resistance

Ethereum Price Analysis

After basic a appropriate abutment aloft $205, Ethereum amount recovered a few credibility adjoin the US Dollar. The ETH/USD brace formed a beat low abreast $204 and jumped aloft the $208 and $210 attrition levels. Later, there was a abutting aloft the $210 attrition akin and the 100 alternate simple affective average. Similarly, there were absolute moves in bitcoin price aloft the $9,500 and $9,600 levels.

During the rise, there was a breach aloft a above bearish trend band with attrition abreast $208 on the alternate blueprint of ETH/USD. The brace activated the $215 attrition and afresh adapted lower. It bankrupt the $212 akin additional the 23.6% Fib retracement akin of the contempo advancement move from the $204 low to $215 high. However, the beasts were able to assure the $208 abutment area.

Moreover, the 50% Fib retracement akin of the contempo advancement move from the $204 low to $215 aerial additionally acted as a support. More importantly, there is a abutting bullish trend band basic with abutment abreast $210 on the aforementioned chart. At the moment, the amount is trading with a absolute bent aloft the $210 level. On the upside, the capital attrition is abreast the $215 level, aloft which it could alpha a solid increase.

The abutting important attrition is abreast the $220 level, aloft which the amount could revisit the $225 resistance. On the downside, if there is a breach beneath the trend line, the $208 akin ability act as a support. If there are added losses, the amount could retest the $202 abutment level.

Looking at the chart, Ethereum amount could abide to balance if there is a able abutting aloft the $215 resistance. Conversely, if the amount fails to abide higher, there could be a downside acknowledgment beneath $210 and $208 abutment levels in the abreast term.