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Ethereum Price Analysis: Can ETH cross 200? – Coinnounce

Ethereum Price Analysis: Can ETH cross 200?

MACD – Set in the bullish zone.

Relative Strength Index – Moving higher towards the 50 level.

Support Level – $165

Resistance Level – $194

Key Points

  • ETH price is shaping a not too bad support over the $165 level against the US Dollar.
  • There is a noteworthy bearish pattern line set up with resistance at $193 on the 4-hours diagram of ETH/USD.
  • The pair may gradually rectify higher towards the $188, $192 and $194 resistance levels.

Ethereum price could exchange higher towards the $192-194 resistance zone in the close term.

Ethereum Price Analysis

This previous week, we saw a noteworthy decay from the $223 swing high in ETH price against the US Dollar. The ETH/USD pair fell underneath the $212, $200, $196 and $180 support levels. Ethereum price exchanged near the $165 level and framed a month to month low. Afterward, Ethereum price began a transient recuperation and moved over the $170 resistance. In any case, Ethereum price attempted to break the $178-179 resistance. It speaks to the 23.6% Lie retracement dimension of the last drop from the $223 high to $165 low.

It appears as though Ethereum price may combine in the here and now over the $165 level. Afterward, it could outperform the $178-179 resistance to expand the recuperation. Be that as it may, there is a noteworthy resistance looking out for the upside, close to the $192-194 zone. Besides, there is a noteworthy bearish pattern line set up with resistance at $193 on the 4-hours diagram of ETH/USD. The pattern line concurs with the half Lie retracement dimension of the last drop from the $223 high to $165 low. Additionally, the 100 straightforward moving normal on a similar outline is likewise close $194-195.

ETHUSD 5 day chart

The above diagram shows that the Ethereum price is likely getting ready for an all-encompassing remedy above $179. Be that as it may, upsides will in all probability confront sellers close $194. At last, the price could decay indeed towards $170 and $165.

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Janet F. Sanchez

Janet Sanchez writes articles which, considering where you’re reading this, makes perfect sense. She is best known for writing cryptocurrency related news and blogs. She also writes about business, finance, and technology. Working from home and taking care of her little son, she has a passion for writing.

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