• 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
  • Invest BTCTry
  • Join STC ICOBuy
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
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis

Ethereum Price (ETH) Facing Key Resistance: Can Bulls Overcome $200?

Aayush Jindal by Aayush Jindal
2 years ago
in Technical analysis
Reading Time: 2min read
technical analysis ethereum
Advertisement
  • ETH price recovered recently and managed to climb above the $190 resistance against the US Dollar.
  • The price is now trading nicely above the $190 and $192 resistance levels.
  • There is a connecting bullish trend line forming with support near $188 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to continue higher, but the $202 resistance is likely to cap the upside.

Ethereum price is climbing higher towards key resistances versus the US Dollar, similar to bitcoin. ETH price is likely to face a strong selling interest near the $200 level.

Ethereum Price Analysis

This past week, we saw a major drop in ETH price below the $202 support area against the US Dollar. The decline was such that the price even broke the $184 support area. Finally, it traded to a new monthly low at $174 and recently started an upside correction. Besides, there was a decent recovery noted in bitcoin price as well above the $10,200 resistance level.

Ethereum price recovered above the key $190 resistance level and the 100 hourly simple moving average. Moreover, there was a break above the $192 and $195 resistance levels. It tested the $198 level and is currently consolidating gains. It tested the 23.6% Fib retracement level of the upward move from the $184 swing low to $198 high. On the downside, there is a strong support forming near the $190 level and the 100 hourly SMA.

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

Moreover, there is a connecting bullish trend line forming with support near $188 on the hourly chart of ETH/USD. The $190 support also coincides with the 50% Fib retracement level of the upward move from the $184 swing low to $198 high. Therefore, dips towards the $190 support area might find buyers in the short term. If there is a downside break below $190 and $188, the price could resume its decline.

On the upside, there is a strong resistance area near the $200 and $202 levels. Therefore,. if there is an upside break above the $202 resistance, the price is likely to continue higher towards the $210 and $215 levels.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum price is clearly correcting higher and is trading nicely above the $192 level. Having said that, the $202 resistance area holds the key. If the price fails to surpass the $202 barrier, there could be a fresh decline. The main supports on the downside are near the $190 and $188 levels.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly moving into the bearish zone.

Hourly RSI – The RSI for ETH/USD is currently placed nicely above the 60 level.

Major Support Level – $190

Major Resistance Level – $202

Tags: ETHethereum
TweetShare21
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

Ethereum

TA: Ethereum Consolidates Gains, Here’s What Could Spark A Fresh Rally

9 hours ago
Bitcoin

Bitcoin Prepares For its Next Move: Where is the 100 SMA, the Key BTC Level?

11 hours ago
By The Numbers: The Rate Bitcoin Must Climb To Reach $100K By July

By The Numbers: The Rate Bitcoin Must Climb To Reach $100K By July

14 hours ago
crypto bitcoin fireworks

Grand Finale: Bitcoin Price Closes Record High Weekly, Could Conclude Cycle

19 hours ago
Ripple (XRP)

Charted: Ripple (XRP) Consolidates Gains, Why Rally Isn’t Over Yet

1 day ago
Bitcoin

TA: Bitcoin Steadies Above $59K, Here’s How Bulls Could Aim Fresh Rally

1 day ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

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

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

Regtank Shortlisted As Finalist for Asia Fintech Awards 2021

April 13, 2021

EtherLite – Upcoming Ethereum Hard Fork to Launch One-Click Migration Tool for dApps

April 13, 2021

Mochi.Market Finalizes Seed Round, Preps for IDO Fair Launch for Its Multi-Chain NFT Decentralized Exchange Protocol

April 13, 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
  • Invest BTC
  • Join STC ICO

© 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.