Ethereum price is merging late misfortunes versus the US Dollar and Bitcoin. ETH/USD may maybe move higher above $220 on the off chance that it remains over the $206 support.
This previous week, we saw a strong bullish wave over the $202 and $210 resistances in ETH price against the US Dollar. The ETH/USD pair picked up pace over the $220 level and settled over the 100 straightforward moving normal (4-hours). The pair exchanged as high as $223 and later began a drawback remedy. It declined underneath the $220 and $210 support levels, however, purchasers showed up close to the $206 support.
All the more essential, there is a key bullish pattern line set up with support at $208 on the 4-hours diagram of ETH/USD. The pattern line support, $206, and the 100 straightforward moving normal (4-hours) are imperative. The price is as of now merging above $206 and it as of late moved over the $210 resistance. There was a break over the 23.6% Lie retracement level of the ongoing drop from the $223 high to $206 low. Also, there was a push over the 23.6% Lie retracement level of the ongoing decay from the $223 high to $206 low. Be that as it may, purchasers attempted to pick up force over the $212-214 resistance.
The above outline demonstrates that Ethereum price is as of now exchanging pleasantly over the $206 support and the 100 SMA. For whatever length of time that there is no nearby underneath $206, the price could skip back above $215 and $220.
4-hours MACD – The MACD is going to move into the bullish zone.
4-hours RSI – The RSI is right now level close to the 50 level.
Real Support Level – $206
Real Resistance Level – $220