Ethereum is following a short term declining pattern from the $198 resistance against the US Dollar. ETH could spike towards the $188 or $185 support before it rallies above $200.
Ethereum is slowly moving lower after it failed to surpass the $198 and $200 resistance levels.
The price is currently trading near the $192 support and the 100 hourly simple moving average.
There is a key declining channel or a bullish flag forming with resistance near $195 on the hourly chart of ETH/USD (data feed via SimpleFX).
The pair could dip towards the $188 support or $185 before it starts a fresh increase.
Ethereum Price Correcting Gains
After a couple of failed attempts to clear the $198-$200 resistance area, Ethereum price started a downside correction against the US Dollar. ETH price seems to be following a declining pattern from the $198 resistance.
The last swing low was near $188 and the recent high was $195. The price is currently declining and testing the $192 level. The 50% Fib retracement level of the upward move from the $188 low to $195 is currently acting as a support.
The next key support is near the $190 level and the 100 hourly simple moving average. The 61.8% Fib retracement level of the upward move from the $188 low to $195 is also near the $190 level to provide support.
If Ethereum fails to stay above the 100 hourly simple moving average, it could spike towards the $188 support. It seems like there is a key declining channel or a bullish flag forming with resistance near $195 on the hourly chart of ETH/USD.
Ethereum Price
Therefore, there are chances of a downside thrust towards the $188 support or the $185 pivot zone in the short term. If Ether fails to stay above the $185 support, there is a risk of a larger downside correction.
The next major support below $185 is near the $175 level, where the bulls are likely to take a strong stand in the coming sessions.
Uptrend Intact?
Ethereum is still following a nice uptrend unless it settles below the $185 support. On the upside, the bulls need to clear the $195 resistance level.
The main hurdle is near the $198 and $200 levels, above which the price could rally towards the $212 and $215 levels. Any further gains may perhaps call for a test of $225.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is about to move into the bullish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 level.
Major Support Level – $185
Major Resistance Level – $198
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Ethereum showed strong support above $2,600, with a possible rally to $3,200 or $4,000.
Growing institutional interest and active network usage signaled potential upward price movement.
EtheThe post Ethereum: Assessing odds of ETH reaching $3,200 soon appeared first on AMBCrypto.
Ethereum (ETH) has had a turbulent week, with the price dipping to tag the critical $3,000 support level before recovering to current levels around $3,200. This sharp drop sparked fear among investors, as doubts about Ethereum’s performance for this cycle intensified.
Ethereum price is attempting a recovery wave above the $3,125 zone. ETH must clear the $3,200 resistance to continue higher in the near term. Ethereum extended losses and tested the $3,075 support zone.
Ethereum price jumped above the $2,100 level and cleared $2,200. ETH is gaining pace and might surge further above the $2,220 level. Ethereum is showing a lot of positive signs and recently cleared the $2,200 resistance.
Ethereum price remained well-bid above the $2,020 level. ETH is now rising, and the bulls seem to be aiming for a move toward the $2,200 level. Ethereum is making a fresh attempt to clear the $2,100 and $2,120 resistance levels.
Ethereum started a major decline from the $1,400 resistance against the US Dollar. ETH is moving lower and might even slide towards the $1,200 level. Ethereum gained bearish momentum below the $1,350 and $1,320 support levels.
Ethereum declined sharply from the $1,500 resistance zone against the US Dollar. ETH is down over 10% and there could be more losses towards the $1,200 support. Ethereum started a fresh decline after it failed to clear the $1,500 resistance zone.
Ethereum failed to clear the $3,200 resistance against the US Dollar. ETH price is declining and might retest the $2,960 support zone in the near term. Ethereum is struggling to clear the $3,190 and $3,200 resistance levels.
Ethereum is trading in a bullish zone above $4,200 against the US Dollar. ETH could start another increase if it clears $4,350 and $4,400 in the near term. Ethereum is holding gains above the $4,100 and $4,200 support levels.
Ethereum started a fresh rally above the $4,200 resistance against the US Dollar. ETH broke the $4,350 level and it could continue to rise in the near term. Ethereum started a fresh increase above the $4,200 and $4,300 resistance levels.
Ethereum is struggling to clear the $2,200 resistance zone against the US Dollar. ETH price is now consolidating and it is likely to start a strong rally above $2,200. Ethereum is trading in a positive zone above the $2,100 and $2,080 support levels.
Ethereum is still struggling to clear the main $200 resistance against the US Dollar. ETH could start a short term downside correction if it continues to struggle near $200. Ethereum is currently trading in a range below the $200 and $202 resistance levels.
Ethereum is in the process of surmounting the key $200 resistance level as its bullishness grows The cryptocurrency’s rebound from its March lows has been intense, although analysts are noting that a strong pullback could be in the cards This comes as traders note that they anticipate ETH to underperform Bitcoin in the days and weeks ahead Ethereum is now in the process of rallying up to $200, marking a significant extension of the momentum […]
Ethereum price continued to fall this morning after a weekend slide saw all of last week’s gains wiped out. The number two cryptocurrency even briefly dipped below $200, before recovering to around $205 at time of writing.
Ethereum price gained more than 10% and broke the key $200 resistance against the US Dollar. ETH even surpassed $220 today and it is likely to continue higher. Ethereum is trading in a strong uptrend above the $200 and $208 levels against the US Dollar.
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