Ethereum Price Analysis: ETH Reaches Crucial Juncture, $200 Incoming?

2020-1-29 16:06

Ethereum price is rising and it recently broke the $169.50 and $175.50 resistance levels vs the US Dollar. ETH to USD traded as high as $178.29 and it is likely to continue higher.

Key Takeaways: ETH/USD Ethereum price is trading in a nasty uptrend above the $169.50 support area against the US Dollar. ETH/USD is following a crucial ascending channel and support near $173.80 on the 2-hours chart (data feed from Bitstamp). Bitcoin price climbed towards $9,450 and it is currently correcting below $9,400. Ethereum Price Analysis

After forming a support base near the $156.50 level, Ethereum price started a steady rise above the $164.50 resistance. ETH to USD even surpassed the $169.50 and $170.00 levels to move further into a bullish zone.

Looking at the 2-hours chart, Ethereum price settled nicely above the $173.50 level and the 50 simple moving average (2-hours, purple). It traded to a new yearly high at $178.29 and it is currently correcting lower.

There was a break below the 23.6% Fib retracement level of the latest wave from $169.58 to $178.29. However, the $173.50 area is acting as a nice support for the bulls.

Besides, the 50% Fib retracement level of the latest wave from $169.58 to $178.29 is protecting declines. More importantly, Ethereum price seems to be following a crucial ascending channel and support near $173.80 on the 2-hours chart.

If there is a downside break below the channel support, the price could continue to move down towards the $170.00 and $169.50 support levels. Any further losses may perhaps lead the price towards the $164.50 level.

Conversely, the price is likely to hold the channel support and climb back above the $176.50 and $178.00 levels. If Ethereum succeeds in clearing the $178.30 swing high, it could even surge above the $180.00 resistance.

The next resistance is seen near the $183.20 and $184.50 levels. Overall, ETH is trading with a positive bias and it is likely to continue higher above $180.00. Only a close below $164.50 might start a major downside correction in the near term.

Live Ethereum (ETH) Price: 1 ETH/USD =$174.9321 change ~ 1.74%

Coin Market Cap

$19.15 Billion

24 Hour Volume

$2.37 Billion

24 Hour VWAP

$175

24 Hour Change

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Ethereum (ETH) на Currencies.ru

$ 3733.76 (+0.44%)
Объем 24H $16.882b
Изменеия 24h: -1.67 %, 7d: -1.97 %
Cегодня L: $3707.75 - H: $3792.31
Капитализация $448.573b Rank 2
Цена в час новости $ 173.25 (2055.13%)

eth ethereum usd price 169 dollar takeaways

Источник: bitcoinexchangeguide.com

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