• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Ethereum

Ethereum Hesitates But Further Gains Seem Likely Towards $200

Aayush Jindal by Aayush Jindal
10 months ago
in Ethereum, Technical analysis
Reading Time: 2min read
Ethereum ETH
Advertisement

Ethereum is trading nicely above the $175 support area against the US Dollar. ETH price is showing a lot of positive signs and it could continue to rise towards $188 and $195.

  • Ethereum corrected lower and tested the main $175 support area.
  • The price is currently rising and trading above the $180 pivot level.
  • There is a major bullish trend line forming with support near $178 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair is likely to accelerate higher once it clears the $185 and $188 resistance levels.

Ethereum Price Could Resume Uptrend

In the past few days, we saw a sharp rise in Ethereum above the $165 and $175 resistance levels against the US Dollar. ETH price even surpassed the $180 resistance and settled well above the 100 hourly simple moving average.

It traded to a new monthly high near $188 before starting a downside correction (similar to bitcoin). There was a correction below the $180 level, but the bulls were able to defend the key $175 support area.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

It seems like there is a strong support base forming above the $175 level and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $178 on the hourly chart of ETH/USD.

Ethereum Price
Ethereum Price

The recent low was formed near $175 and Ethereum is currently rising. There was a break above the $180 level, plus the 50% Fib retracement level of the recent correction wave from the $188 high to $175 swing low.

On the upside, an initial hurdle for the bulls is near the $185 level. It is close to the 76.4% Fib retracement level of the recent correction wave from the $188 high to $175 swing low. A successful break above the $185 resistance level could open the doors for more gains above the $188 high.

The next resistance is near the $195 level, above which the bulls are likely to aim a test of the $200 handle in the near term.

Downside Correction?

On the downside, the $175 support area and the trend line hold a lot of importance. The next key support is near the $173 level or the 100 hourly simple moving average.

If there is a bearish break below the $175 and $173 support levels, there is a risk of a larger downside correction towards the $165 level.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly moving in the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently just above the 50 level.

Major Support Level – $175

Major Resistance Level – $185

Image from unsplash

Tags: ethereumethusd
TweetShare15
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Cardano (ADA)

Charted: Cardano (ADA) Remains Strong Above 100 SMA, Why It Could Rally Again

10 hours ago
Ethereum

TA: Ethereum Recovers Above $1,600, Why ETH Could Retest $1,500

12 hours ago
Bitcoin

TA: Bitcoin Recovers From $45K, Why It Could Struggle Near $52K

14 hours ago
bitcoin bear market

This Unique Take On Bitcoin Suggests A Bear Phase Is Near

22 hours ago
bitcoin

Elon Musk Trolls Peter Schiff After the Gold Bug Bashes Tesla’s Bitcoin Buy

22 hours ago
Yearn.finance (YFI) is About to Pass a Pivotal Bull Level: Analyst

$100 Million Evaporated From DeFi Amid Bitcoin Drop to $45,000

1 day ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

HOPR Hosts Global Token Launch Event on February 24th after First-Of-Its-Kind DAO Experiment

February 24, 2021

Egoras- a Decentralized Finance Ecosystem for Growing Markets!

February 23, 2021

Join the Most Awaited ICO of the Year and Get your Ticket to the Crypto world

February 22, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.