Prediction of Ethereum prices: buyers of ether observe the upward rupture

20 September 2018 15:17

Key Points

The price of Ether is traded at a bullish angle above $ 210.00 and $ 206, 00 compared to the US dollar.

ETH / USD is attempting a close over a crucial bearish trendline with resistance at $ 211.00 on the 2-hour chart.

ETH / BTC found support near 0.0320BTC and is currently moving higher.

Technically, the 2-hour chart indicators are moving higher in bullish territory.

Analysis of the prices of the ether

During the last sessions, there were a couple of moves oscillating towards the support of $ 200.00. ETH / USD shoppers fell close to $ 200.00 and $ 205.00 and pushed the price higher.

ETH / BTC also found support near the 0.0320BTC level. The pair is currently moving higher and may continue to rise towards the 0.0340BTC and 0.0350BTC levels in the short term.

Starting from the 30-minute ETH / USD table, the pair formed a solid support base near the $ 207.00 level and later earned bullish momentum. The ether was traded above the $ 210.00 level and retested the resistance zone of $ 215.00.

During the upswing, the price broke a short-term bearish trend line with a resistance at $ 208.00. He is currently correcting lower and nearing the $ 210.00 support. The most important downside support is close to the $ 207.00-208.00 zone.

In addition, the Fibonacci 23.6 retracement level of the recent leg from the low of $ 196.72 to $ 215.37 could also serve as support for $ 210.00. Therefore, there are many supports aligned between $ 207.00 and $ 210.00.

Turning to the 2-hour chart of Eth / USD, the pair is attempting a close above a crucial bearish trendline with resistance to $ 211.00. If there was a 2-hour closing above the $ 212.00 level, the price could accelerate higher.

However, Ether buyers have to cancel the resistance area of ​​$ 215.00, which has prevented further gains on more than two occasions. Altogether, the price of Ether is traded with positive bias as long as buyers continue to hold losses of less than $ 207.00.

Aayush spent over seven years as a contributor to financial markets and observer. He specialized in market strategies and technical analysis. It strives to provide entertaining and informative analyzes on the currency and commodity markets. He is a software engineer by profession and loves blogs.

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