• 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 Is Plunging and Its Vulnerable For A Drop To $200

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

Ethereum is declining and trading below the $225 support against the US Dollar. ETH price remains at a risk of more losses and it might revisit the $200 support.

  • ETH price is showing bearish signs and trading below the $225 support area against the US Dollar.
  • It tested the $215 support and settled well below the 100 simple moving average (4-hours).
  • There is a crucial bearish trend line forming with resistance near $225 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair must recover above the $225 support to avoid a push towards the $200 support area.

Ethereum Price Settles Below $225

This past week, Ethereum started a major downward move below the $235 support against the US Dollar. ETH price broke the $225 support level and settled well below the 100 simple moving average (4-hours).

It opened the doors for more losses and the price tested the $215 level. Ether is currently consolidating losses above the $215 level, but there are many bearish signs visible.

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

An initial resistance is near the $222 and $224 levels. The 23.6% Fib retracement level of the downward move from the $249 high to $215 low is also near the $224 level. More importantly, there is a crucial bearish trend line forming with resistance near $225 on the 4-hours chart of ETH/USD.

Ethereum Price

Ethereum price trades below $225. Source: TradingView.com

If ether price breaks the trend line resistance and $225, it could recover towards the next major resistance at $232 and the 100 simple moving average (4-hours). The 50% Fib retracement level of the downward move from the $249 high to $215 low is also near $232.

Therefore, the price is likely to struggle big time near the $225 and $232 resistance levels. The bulls need to gain momentum above $225 for a successful bullish push above the $232 barrier.

More Losses in ETH?

The first support for Ethereum is visible near the $215 level. If the bears manage to push the price below the $215 level, there could be a 3%-5% drop.

In the mentioned case, the price is likely to test the $205 and $200 support levels. Any further losses might open the doors for a push towards $185 support.

Technical Indicators

4 hours MACD – The MACD for ETH/USD is now gaining pace in the bearish zone.

4 hours RSI – The RSI for ETH/USD is currently well below the 40 level.

Major Support Level – $215

Major Resistance Level – $225

Take advantage of the trading opportunities with Plus500

Risk disclaimer: 76.4% of retail CFD accounts lose money.

Tags: ethereumethusdETHUSDT
TweetShare
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

bitcoin strong bull coinbase

Coinbase Bitcoin Outflows Are The Strongest Bullish Signal “Ever”

19 mins ago
Ethereum

TA: Ethereum Bulls Keeps Pushing, Why $1,720 Is The Key For Fresh Rally

15 hours ago
Bitcoin

TA: Bitcoin Consolidates Above $50K Why BTC Could Face Bears At $52K

17 hours ago
Cardano (ADA)

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

2 days ago
Ethereum

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

2 days ago
Bitcoin

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

2 days ago

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.