Key Key Aspects
- The ETH price is slowly recovering and will probably provide support close to $ 185 compared to the US dollar.
- The bearish trend line highlighted yesterday was surpassed with resistance to $ 193 on the hourly chart of Eth / USD (data feed via Kraken).
- The pair will move slowly towards the resistance levels $ 208 and $ 210 in the short term.
The price of Ethereum is traded with range movements against the US dollar and bitcoin. The ETH / USD could test the resistance zone of $ 210-215 where sellers are likely to emerge.
Support for the price of Ethereum
Yesterday, there was a slight upward change from the minimum of $ 185 of the ETH price to the US dollar. The ETH / USD pair has exceeded the $ 195 and $ 200 resistance levels to enter a consolidation phase. The price also managed to exceed the 50% retracement level of Fibra's last decline from $ 219 upwards to $ 185 below. However, the upward move was limited by the $ 06-207 zone.
In addition, it appears that the price failed to gain momentum above the technical level of $ 206.71. Represents the Fib retracement level at 61.8% of the last decline from the minimum of $ 219 to the minimum of $ 185. There was a sharp downward reaction and the price retested the support zone from $ 185. Buyers appeared, protected more losses and eventually pushed the price higher than $ 190. More importantly, the key bearish trend line highlighted yesterday was outdated with resistance at $ 193 on the hourly chart. # 39; Eth / USD. Therefore, it seems that the price may continue to rise towards resistance levels of $ 208 and $ 210 in the short term.
Looking at the chart, the ETH price is waiting for the $ 185 low swing and could correct higher. That said, buyers have to be very cautious because the biggest drawbacks are very unlikely over $ 210 and $ 215.
MACD schedule – The MACD is slightly positioned in the bullish zone.
RSI timetable – The RSI has moved above level 50, but shows some bearish signals.
Main support level – $ 185
Main resistance level – $ 210