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Ethereum Price Analysis: Ethereum (ETH) Is Making Gradual Gains; Soon To Breach $200

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  • Ethereum is up by 0.58% over the last 24 hours, and it maintains its value above 190 USD.
  • The next resistance for Ethereum may come at 197 USD.

In the last 1 month, Ethereum has made a volatile journey. With four major price shifts, the coin has seen the highest point at 237 USD and the lowest one at 175 USD. The medium-term of the coin seems bullish. Before analyzing the price shifts, let us analyze the current details of the coin now.

ETH Price Statistics-

  • Ethereum is ranked at 2nd position in the market.
  • The ROI (Return on Investment) stands at 6,696.59%.
  • The total coins in circulations stand at 107,447,784 ETH.
  • The market cap as on 24th August at 03:54 UTC stands at 20,667,558,097 USD.
  • The value of each coin stands at 0.01857836 BTC and 192.02 USD.
  • The 24h volume of the coin rests at 6,361,030,852 USD.

ETH to USD Comparison-

ETH Price Prediction
ETH Price Chart by TradingView

Ethereum was at 223 USD on 25th July when it faced a blow, and over the next 3 days, the coin lost 24.5 USD, and it was pushed to 199.46 USD. After a few days of volatility, Ethereum faced a hike of 15.26%, and this hike pushed the coin to the highest point of the day at 237 USD on 06th August. It was, however, not a long-standing one growth. It faced a decline in the value of 26.09%, and this decline took the coin to 175 USD by 15th August, and this makes the lowest point of the month. The next variation came as a hike of 15.83% between 15th August and 19th August. The current value of the coin is roaming around 192 USD. The market cap on 24th July was 23,231,825,350 USD, and the value of each coin was 203.86 USD. The current market cap, as well as the value of each coin, is respectively 11.03% and 5.80% less than the figures for the last month.

ETH Price Prediction-

As stated earlier, Ethereum is now hovering around 192 USD, and it is miles behind the month’s high at 237 USD. By the end of this month, it may touch the 200 USD point, and the medium-term of the coin is likely to be bullish.

Ethereum (ETH) 
1st Resistance197.2266667 USD
2nd Resistance199.7433333 USD
3rd Resistance203.5766667 USD
1st Support Level190.8766667 USD
2nd Support Level187.0433333 USD
3rd Support Level184.5266667 USD

Source:cointelegraph

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Ethereum (ETH) Holding Key Support But For How Long?

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  • Ethereum price is trading nicely above the key $182 and $180 support levels against the US Dollar.
  • The price is currently facing many resistances such as $187, $188 and $190.
  • Recently, there was a break above a connecting bearish trend line with resistance near $185 on the hourly chart of ETH/USD (data feed via Kraken).
  • Bitcoin is holding the $8,650 support, but it remains at a risk of more downsides.

Ethereum price is still stuck in a broad range versus the US Dollar, while bitcoin is facing selling pressure. ETH price might recover higher unless the bulls fail near $180.

Ethereum Price Analysis

In the past three sessions, there were mostly range moves in Ethereum above the $182 support against the US Dollar. ETH tested the $182 support recently, settled below the 100 hourly simple moving average, and it is currently recovering higher.

It corrected above the 23.6% Fib retracement level of the downward move from the $192 swing high to $182 low. Moreover, there was a break above a connecting bearish trend line with resistance near $185 on the hourly chart of ETH/USD.

However, the price faced a strong resistance near the $187 level. It represents the 50% Fib retracement level of the downward move from the $192 swing high to $182 low.

At the outset, Ethereum is trading with a bearish angle below $187 and the 100 hourly SMA. It might continue to decline, but there are many supports on the downside, starting with $184.

The next key support is near the $182 area, where the bulls are likely to take a stand. To push the price further into a bearish zone, the bears need to gain pace below the $182 and $180 support levels.

On the upside, the $187 level and the 100 hourly SMA are initial hurdles. A convincing break above the $187 and $188 resistance levels could push the price towards the $192 high.

Finally, a clear break above the $192 level is must for upside continuation. The next key resistance are near the $198 and $200 levels, above which it could test $205.

Ethereum Price

Looking at the chart, Ethereum price is showing a few positive signs, but it is facing a lot of hurdles such as $187, $188 and $190. On the downside, the $182 and $180 support levels hold the key. If there is a breakdown below $180, the price may perhaps decline towards $168.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is struggling to gain strength in the bullish zone

Hourly RSI – The RSI for ETH/USD is currently declining and it is now just below the 50 level.

Major Support Level – $182 Major Resistance Level – $188 Source:newsbtc

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Analyst: Ethereum Still on Track for Move to $260 as Network Activity Spikes

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Ethereum has been closely tracking Bitcoin’s price action over the past several days and weeks, and this correlation has persisted when ETH dropped overnight as BTC was met with significant selling pressure within the lower-$9,000 region, which subsequently sent it reeling down to $8,700.

Bitcoin’s current bearishness has caused Ethereum to show similarly bearish signs, although one analyst is still holding strong that ETH is on track to surge as high as $260 in the near-term.

Ethereum Fails to Break Above $190 as Crypto Markets Face Increasing Selling Pressure

At the time of writing, Ethereum is trading down nominally at its current price of $187, which marks a slight retrace from its daily highs of over $190 that were set yesterday alongside Bitcoin’s surge to $9,300 – which proved to be short-lived as BTC has since retraced to $8,700.

Despite showing signs of some bearishness on a short time frame, it is imperative to note that Ethereum has climbed significantly from its one-month lows of under $160 that were set in late-October concurrently with Bitcoin’s drop to lows of $7,300.

ETH rapidly surged shortly after setting these lows, with its gains being fueled by BTC’s meteoric rally that sent it as high as $10,600 before it retraced back into the $9,000 region.

One bullish factor that could provide Ethereum’s bulls with some ammunition in the mid-term is the fact that the cryptocurrency’s network activity has been incredibly strong as of late, with its total daily gas used hitting an all-time-high this past September.

“Yesterday, the Ethereum network processed the most activity in its history,” one popular figure within the Ethereum community noted in a tweet from September.

Will ETH Target $260 Next?

As for where this underlying fundamental bullishness could send ETH’s price, one popular cryptocurrency analyst believes that Ethereum is currently on track to visit $260 next.

Josh Olszewicz, a well-respected analyst on Twitter, explained that ETH will be “good to go” towards this price target once it breaks above the resistance it currently faces between $188 and $198.

“1D $ETH: 404: volume not found. e2e continues to grind towards inevitability. should b g2g past res of 188-198. hf scheduled dec 4th,” he explained while referencing the chart seen below.

In the near-term, it is probable that Ethereum’s price action will largely be guided by that of Bitcoin, but assuming that BTC finds some stability or even some tempered upwards momentum, then investors may watch ETH post significant gains.

Source:newsbtc

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Ethereum Classic (ETC) Marks Tremendous Fall and Touches $4.9

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Ethereum Classic is back to the level from where it started yesterday, i.e., $4.9. There is no sign of improvement in the coin. The intraday traders are expected to close the day with a loss.

Yesterday, ETC coin was seen touching a high at $5.09 and later dropping to the lowest at $4.95. Well, the coin has already breached yesterday’s low.

Ethereum Classic Price Prediction:

Yesterday, Ethereum Classic started the day at $4.94. The price immediately fell to $4.91 by 0.55%. Further, the coin escalated to $5.02 by 2.16%. The ETC coin couldn’t hold itself at the level and started falling. The price recovered in the later hours and went up to $5.10 by 2.19%.

The price slipped to $4.9 by 2.18%. The closing hours brought some recovery and closed at $5.06 by 1.29%. The intraday movement in Ethereum Classic price brought a 2.34% escalation. Today, ETC coin is registering fall from the opening hours. The price moved from $5.06 to $4.91 by 2.91% drop.

ETC Price Chart
ETC Chart by TradingView

Ethereum Classic is currently under heavy market pressure. The currency has breached the immediate support at $4.97 and sliding towards the next support level at $4.89. There is a strong possibility that ETC might violate the major support level at $4.83.

Ethereum Classic is usually suggested for long-term investment. The short-term period doesn’t go well with the coin. However, keeping in mind the current scenario, we would suggest the traders stay put and wait for the market to attain stability.

Source.cryptonewsz

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