Ethereum Price Analysis: ETH Could Extend Its Downtrend Below $190

2020-3-12 16:45

Ethereum price started an upside correction from the $189.35 low vs the US Dollar. ETH to USD is facing many hurdles above $204.50 and it is likely to resume its downtrend in the near term.

Key Takeaways: ETH/USD Ethereum price is trading in a bearish zone below the $204.50 and $207.75 levels against the US Dollar. ETH/USD broke a key contracting triangle with support near $199.60 on the 2-hours chart (data feed from Bitstamp). Bitcoin price is down more than 3% and it is likely to dive below the $7,750 level Ethereum Price Analysis

In the past few day, there were mostly downsides in Ethereum price below the $215.00 and $204.50 levels. ETH to USD even broke the $200.00 support area and traded to a new monthly low at $189.35.

Ethereum Price

Looking at the 2-hours chart, Ethereum price settled well below the $204.50 pivot level and the 50 simple moving average (2-hours, purple). Recently, there was an upside correction above the $200.00 level.

The price made an attempt to surpass the 23.6% Fib retracement level of the downward move from $252.65 to $189.35, but it failed. It seems like the $204.50 and $205.00 levels are important barriers for the bulls.

As a result, Ethereum price broke a key contracting triangle with support near $199.60 on the same chart. The price is now trading well below the $204.50 level. An initial support is near the $194.50 level, below which there is a risk of more losses towards the $189.35 level.

Any further losses may perhaps lead the price towards the $188.50 and $182.50 levels in the near term. Conversely, the price must gain traction above $204.50 to start a decent recovery.

The next hurdles are near the $207.80 level and the 50 simple moving average (2-hours, purple). The main resistance above the 50 simple moving average (2-hours, purple) is near the 50% 50 simple moving average (2-hours, purple) at $221.00.

Overall, Ethereum price is trading in a bearish zone below $204.50 and $207.80. Therefore, there is a risk of more losses below $192.00 and $189.35 unless there is a clear break above $207.80.

Live Ethereum (ETH) Price: 1 ETH/USD =$191.2200 change ~ -6.03%

Coin Market Cap

$21.04 Billion

24 Hour Volume

$4.36 Billion

24 Hour VWAP

$197

24 Hour Change

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Ethereum (ETH) на Currencies.ru

$ 1939.44 (-0.21%)
Объем 24H $32.154b
Изменеия 24h: 3.69 %, 7d: -11.02 %
Cегодня L: $1937.55 - H: $1951.02
Капитализация $233.91b Rank 2
Цена в час новости $ 192.44 (907.82%)

ethereum eth price 204 usd downtrend below

ethereum eth → Результатов: 126


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