Ethereum Price (ETH) Touches $200 While Bitcoin Is Declining

THELOGICALINDIAN - Ethereum amount is trading college appear 200 and 205 against the US Dollar while bitcoin is crumbling ETH amount could abide to acceleration appear 205 or alike 210

Ethereum Price Analysis

Yesterday, we saw a nice advancement move in ETH amount aloft the $185 attrition adjoin the US Dollar. Moreover, we discussed the affairs of added upsides and a analysis of the $200 level. The amount did ascend higher, bankrupt the $195 beat high, and afresh traded abutting to the $200 level. On the added hand, bitcoin remained in a bearish area and beneath beneath the $10,300 and $10,250 abutment levels.

Ethereum amount formed a new account aerial abreast $200 and it is currently accumulation gains. An actual abutment is abreast the $197 level. It coincides with the 23.6% Fib retracement akin of the aftermost leg from the $189 beat low to $200 high. If there is an continued downside correction, the amount could analysis the $195 abutment area. Additionally, the 50% Fib retracement akin of the aftermost leg from the $189 beat low to $200 aerial is additionally abreast the $195 level.

More importantly, yesterday’s accent above bullish trend band is alive with abutment abreast $193 on the alternate blueprint of ETH/USD. The capital abutment for Ethereum is abreast the $185 akin (the antecedent resistance). Therefore, dips abide able-bodied accurate in the abreast appellation appear $195 and $193. On the upside, an actual attrition is abreast the $200 handle.

If the amount break the $200 level, there are aerial affairs of it before the $205 attrition level. The abutting key attrition is abreast the $210 level, aloft which the amount could billow appear the $220-$225 zone.

Looking at the chart, Ethereum amount is acutely outperforming bitcoin and added altcoins. As continued as it is trading aloft the trend band abutment and $185, there are affairs of added gains. It would be absorbing to see how bears acknowledge already the amount surpasses the $200 barrier and attempts to ascend aloft $205.