Ethereum pricing analysis: ETH / USD under pressure of less than $ 216


Key Points

  • The ETH price is struggling to break the $ 214-216 resistance zone against the US dollar.
  • The important downtrend line highlighted yesterday is active with resistance at $ 212 on the hourly chart of Eth / USD (data feed via Kraken).
  • The pair must break the trend line and the resistance zone of $ 216 for further gains in the short term.

The price of Ethereum is mainly in a bearish zone compared to the US dollar and bitcoin. The ETH / USD needs to exceed the sellers above $ 212 to test the resistance of $ 228.

Ethereum Price Resistance

Yesterday, there were many rejections around the $ 214 area. -216 of the ETH price compared to the US dollar. The pair ETH / USD failed to close above the $ 216 level and suffered a sharp stop. He broke support levels $ 206 and $ 200 and traded at $ 197. He subsequently recovered sharply and moved above the $ 200 level. He revisited the $ 214 resistance, which acted as resistance [19659008] More importantly, the important downtrend line highlighted yesterday is active with a resistance of $ 212 on the hourly chart of Eth / USD. The pair is finding strong resistance near the trendline and $ 216. It is currently trading near the simple 100-hour moving average and $ 208. It has already broken the Fibers' 23.6% retracement level of the recent wave from the low from $ 197 to $ 213. It seems that the price may continue to fall towards the levels of $ 205 and $ 204. These are close to the Fibra 50% retracement level of the recent wave, from $ 197 down to $ 213 at the top. If there is a bearish break below $ 204, the price could retest $ 200.

 Price Analysis of Ethereum ETH USD

Looking at the chart, the ETH price is opposite at a hard barrier near the $ 214-216 area. An appropriate close above the trend line and a level of $ 216 is needed for buyers to push the price to $ 228.

MACD schedule – The MACD moves slowly in the bullish zone.

RSI timetable – Currently the RSI is just around the 50 level.

Main support level – $ 204

Resistance level main – $ 212

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