Ethereum Price Key Features
- Ethereum price declined vigorously and exchanged as low as $184.5 against the US Dollar.
- There are two imperative bearish pattern lines set up with resistance at $208 and $218 on the 4-hours diagram of ETH/USD (information feed through Kraken).
- The pair may revise higher, however there are numerous obstacles close $207 and $212 on the upside.
Ethereum price is confronting numerous boundaries versus the US Dollar and Bitcoin. ETH/USD stays at a danger of more misfortunes as long as it is beneath $212.
Ethereum Price Analysis
This previous week, there was a sharp drawback move from the $234 resistance zone in ETH price against the US Dollar. The ETH/USD pair tumbled and broke the $206 and $200 bolster levels. It tried the $184-185 help and shaped a low at $184.5. The price later began an upside adjustment above $190, however it is still path beneath the 100 straightforward moving normal (4-hours).
It has moved over the 23.6% Lie retracement level of the last decay from the $230 high to $184 low. Be that as it may, there are numerous resistances on the upside close to the $206, $207, $208 and $212 levels. There are likewise two essential bearish pattern lines set up with resistance at $208 and $218 on the 4-hours graph of ETH/USD. Beneath the principal slant line, the half Lie retracement level of the last decay from the $230 high to $184 low is at $207. Around the pattern line and the $207 resistance, the 100 SMA is likewise situated. Hence, it won’t be simple for purchasers to clear the $207 resistance and the 100 SMA.
The above graph demonstrates that Ethereum price is confronting a lot of obstacles on the upside beneath $212. A legitimate close above $207 and $212 may drive the price in a positive zone. On the drawback, the $190 and $184 levels are not too bad backings.
4-hours MACD – The MACD is gradually moving in the bullish zone.
4-hours RSI – The RSI is as of now close to the 40 level.
Significant Support Level – $190
Significant Resistance Level – $207