Support Levels: $210, $200
Resistance Levels: $225, $230
- Ethereum price broke above $210 resistance and even tested the $225 resistance zone.
- As long as ETH is above $200, it is in a positive zone and might soon test $225, $230 and $240 resistance levels.
- A bull pattern is being formed on the hourly chart with the support at around $210.
- ETH is currently supported at $210 and $200 levels.
Ethereum Price Analysis:
SUMMARY: Ethereum price spiked upwards and broke above $210 and $220 levels. ETH is currently in an uptrend and will most likely test $225 and $230 resistance levels soon.
Ethereum price traded with a bullish momentum yesterday and broke above $210 resistance level. $200 level was turned into good support for ETH which helped in clearing above $210 level. The bulls were able to push the price well above the 100 hourly SMA and $215. Ethereum price soon moved over $220 and even tested the $225 resistance level where sellers appeared and ETH started a downward correction.
The current support for ETH lies at $210 below which it might test $200 level. A bullish pattern line is also being formed on the hourly chart with the support at $210. If ETH is able to break above $225 resistance level, it might soon test $230 and $240 levels. However, it seems that Ethereum price might correct downwards towards $210 or even $200 levels before it can start a fresh bull run.
The chart shows that Ethereum price is currently trying to gain momentum above $210 and $200 support levels. Until Ethereum stays above $200, it is in a positive zone and might move towards $225 and $230 levels soon. However, the momentum might turn bearish if ETH falls below $200 support level.