[ad_1]
- The price of Ethereum collapsed and took the $ 205 support region and rose later against the US dollar.
- There is a notable breakout pattern framed with resistance to $ 209 on the hourly chart of Eth / USD.
- The pair will probably go higher than the resistance levels $ 209 and $ 210.
Ethereum price holds key media against the US dollar and bitcoin. The ETH / USD could continue its upward move once there is a break above $ 209-210.
Price analysis of Ethereum
In recent times, the ETH price has begun a revision of the disadvantage following the exchange with the maximum of week after week at $ 218.63 compared to the US dollar. The ETH / USD pair declined and traded below support levels $ 215.00 and $ 210.00. There was even a peak below the Lie retracement level of 61.8% of the last wave, from $ 200 swing low to $ 218 high. In any case, the price remained above the support of $ 205.00 and the 100 simple hour shift normally.
At this time, the price is trading above the $ 208 level and it looks like it is preparing for further gains. All the more essential, there is a remarkable breakout project modeled with resistance to $ 209 on the timeline of the Eth / USD. The pair will probably erase the resistance of the triangle and after $ 210 for a crisp upward move. In the reference made to the case, the price can be traded higher towards the $ 215.00 or $ 218.00 level. Then again, if there is a breach of the limit, the price could retest $ 205.00. In addition, Lie's retracement level of 76.4% of the last wave from the low of $ 200 to $ 218 is better than the average support of $ 204.
5-day chart of ETHUSD
Giving a look to the outline, Ethereum price it is nicely put in a bullish trend above $ 205. Next, there are conceivable high results of a new bullish bias compared to the levels of $ 210.00 and $ 215.00 in the short term.
MACD time – The MACD will return to the bullish zone.
RSI timetable – CSR is moving higher and hence far beyond level 50.
Significant level of support – $ 205
Significant resistance level – $ 210
Source link
