Ethereum Price Analysis: Can ETH rise again?

9 months ago

Ethereum Price Key Features

  • Ethereum price fell and took the $205 support region and went up later against the US Dollar.
  • There is a noteworthy breakout pattern framed with resistance at $209 on the hourly graph of ETH/USD.
  • The pair is probably going to break to the upside over the $209 and $210 resistance levels.

Ethereum price is holding key supports against the US Dollar and bitcoin. ETH/USD could continue its upside move once there is a break above $209-210.

Ethereum Price Analysis

As of late, ETH price began a drawback revision in the wake of exchanging to the week after week high at $218.63 against the US Dollar. The ETH/USD pair declined and exchanged beneath the $215.00 and $210.00 support levels. There was even a spike underneath the 61.8% Lie retracement level of the last wave from the $200 swing low to $218 high. In any case, the price remained over the $205.00 support and the 100 hourly straightforward moving normally.

Right now, the price is exchanging over the $208 level and it appears as though it is getting ready for more gains. All the more essential, there is a noteworthy breakout design shaped with resistance at $209 on the hourly diagram of ETH/USD. The pair is probably going to clear the triangle resistance and afterward $210 for a crisp upside move. In the made reference to the case, the price may well exchange higher towards the $215.00 or $218.00 level. Then again, if there is a drawback break, the price could retest $205.00. Furthermore, the 76.4% Lie retracement level of the last wave from the $200 swing low to $218 high is a better than average support at $204.

ETHUSD 5 day chart

Taking a gander at the outline, Ethereum price is put pleasantly in an uptrend above $205. Subsequently, there are high conceivable outcomes of a new bullish inclination over the $210.00 and $215.00 levels in the close term.

Hourly MACD – The MACD is going to move back in the bullish zone.

Hourly RSI – The RSI is moving higher and it as of now well over the 50 level.

Significant Support Level – $205

Significant Resistance Level – $210

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