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Ethereum Price Analysis: ETH Could Surge Above $190-$200

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  • Ethereum price is currently consolidating gains above the $180 support against the US Dollar.
  • ETH price is facing hurdles near the $190 and $200 resistance levels.
  • There is a breakout pattern forming with resistance near the $188 level on the 4-hours chart (data feed from Coinbase).
  • The price is likely setting up for an upside break above the $190 and $200 levels in the near term.

Ethereum price is trading above key supports near $180 against the US Dollar. ETH price could rally significantly if it clears the $190 resistance area.

Ethereum Price Analysis

This past week, there was a downside correction in Ethereum price below the $190 level against the US Dollar. ETH price corrected below the $185 and $184 support levels. Moreover, there was a break below $180 and the 55 simple moving average (4-hours).

A low was formed near $177 and the price later formed a support base near $180. As a result, there was an upward move above the $182 and $184 levels. Besides, the price climbed above the 50% Fib retracement level of the downward move from the $194 swing high to $177 swing low.

The price is now trading above the $185 level and the 55 simple moving average (4-hours). An immediate resistance is near the $188 and $190 levels for Ethereum.

Additionally, the 61.8% Fib retracement level of the downward move from the $194 swing high to $177 swing low is acting as a major resistance. More importantly, there is a breakout pattern forming with resistance near the $188 level on the 4-hours chart.

Therefore, an upside break above the $188 and $190 levels could open the doors for a decent rally. The next major resistance is near the $200 level. An intermediate resistance for Ethereum price is near the $195 level.

On the downside, an initial support is near the $184 level and the 55 SMA. The main support is near the $181 level and triangle support. If there is a downside break below the $181 and $180 support levels, the price could start an extended decline. The next key support is near the $168 area.

Ethereum Price

Ethereum Price

Looking at the chart, Ethereum price is clearly facing a lot of hurdles near the $188 and $190 levels. If there is a clear break above the $190 level, the price could resume its upward move. If not, there is a risk of another decline below $180.

Technical indicators

4 hours MACD – The MACD for ETH/USD is currently moving nicely in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is currently stable near the 60 level.

Key Support Levels – $180, followed by the $176 zone.

Key Resistance Levels – $190 and $200.

Tags: ETH, Ethereum

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Ethereum

Ethereum (ETH) Stuck In Range While Bitcoin Is Sliding

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  • Ethereum price failed to continue above $190 and declined below $188 against the US Dollar.
  • The price is currently correcting higher, but it is likely to face resistance near $187-$188.
  • There is a connecting bearish trend line forming with resistance near $187 on the hourly chart of ETH/USD (data feed via Kraken).
  • Bitcoin is trading with a bearish angle below the $8,950 and $9,000 resistance levels.

Ethereum price is trading in a broad range versus the US Dollar, while bitcoin is struggling. ETH price might revisit the $182 range support area in the near term.

Ethereum Price Analysis

Yesterday, there was a decent increase in Ethereum above the $188 resistance against the US Dollar. ETH even surpassed the $190 resistance area and the 100 hourly simple moving average.

However, the price struggled to gain strength above $190 and formed a high near the $192 level. Later, there was a downward move below the $188 support area and the 100 hourly simple moving average.

Moreover, the price traded below the 50% Fib retracement level of the upward move from the $180 swing low to $192 high. The bulls even failed to defend the $185 support and the price tested the $183 area.

Ethereum is currently correcting higher and trading near the $186 level. Additionally, it is trading near the 23.6% Fib retracement level of the recent decline from the $192 high to $184 swing low.

On the upside, an immediate resistance is near the $187 level. More importantly, there is a connecting bearish trend line forming with resistance near $187 on the hourly chart of ETH/USD, coinciding with the 100 hourly SMA.

If there is an upside break above the trend line and the 100 hourly SMA, the price could test the $188 resistance area. Any further gains may perhaps push the price towards the $192 swing high in the near term.

Conversely, the price could decline further if it fails to clear the $188 resistance. An immediate support is near the $184 level. The main supports are near the $182 and $180 levels, below which the bears are likely to gain strength.

Ethereum Price

Ethereum Price

Looking at the chart, Ethereum price seems to be trading in a broad range between $180 and $190. A successful close on the either side could trigger the next move. As long as there is no daily close below $180, there are chances of a fresh increase towards $200 and $205.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is about to move into the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently rising and it is likely to clear the 50 level.

Major Support Level – $182

Major Resistance Level – $188

Source:newsbtc

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Ethereum

Ethereum (ETH) Stuck In Range While Bitcoin Is Sliding

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  • Ethereum price failed to continue above $190 and declined below $188 against the US Dollar.
  • The price is currently correcting higher, but it is likely to face resistance near $187-$188.
  • There is a connecting bearish trend line forming with resistance near $187 on the hourly chart of ETH/USD (data feed via Kraken).
  • Bitcoin is trading with a bearish angle below the $8,950 and $9,000 resistance levels.

Ethereum price is trading in a broad range versus the US Dollar, while bitcoin is struggling. ETH price might revisit the $182 range support area in the near term.

Ethereum Price Analysis

Yesterday, there was a decent increase in Ethereum above the $188 resistance against the US Dollar. ETH even surpassed the $190 resistance area and the 100 hourly simple moving average.

However, the price struggled to gain strength above $190 and formed a high near the $192 level. Later, there was a downward move below the $188 support area and the 100 hourly simple moving average.

Moreover, the price traded below the 50% Fib retracement level of the upward move from the $180 swing low to $192 high. The bulls even failed to defend the $185 support and the price tested the $183 area.

Ethereum is currently correcting higher and trading near the $186 level. Additionally, it is trading near the 23.6% Fib retracement level of the recent decline from the $192 high to $184 swing low.

On the upside, an immediate resistance is near the $187 level. More importantly, there is a connecting bearish trend line forming with resistance near $187 on the hourly chart of ETH/USD, coinciding with the 100 hourly SMA.

If there is an upside break above the trend line and the 100 hourly SMA, the price could test the $188 resistance area. Any further gains may perhaps push the price towards the $192 swing high in the near term.

Conversely, the price could decline further if it fails to clear the $188 resistance. An immediate support is near the $184 level. The main supports are near the $182 and $180 levels, below which the bears are likely to gain strength.

Ethereum Price

Ethereum Price

Looking at the chart, Ethereum price seems to be trading in a broad range between $180 and $190. A successful close on the either side could trigger the next move. As long as there is no daily close below $180, there are chances of a fresh increase towards $200 and $205.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is about to move into the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently rising and it is likely to clear the 50 level.

Major Support Level – $182

Major Resistance Level – $188

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Ethereum

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.

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