Prediction of Ethereum prices: ether recovers abruptly above $ 200

18 September 2018 15:19

Key Points

Ether's price came back after testing the support area of ​​$ 190.00-192.00 against the US dollar.

ETH / USD broke a key bearish trendline with resistance at $ 195.00 on the 30-minute chart.

ETH / BTC trades well above the 0.0330BTC level with some positive signals.

Technically, the 2-hour chart indicators are moving towards the mediums in bearish territory.

Analysis of the prices of the ether

C & # 39; was an abrupt bearish reaction from the $ swing alt $ 220.00 in ETH / USD. The pair collapsed and broke the $ 200.00 support area before buyers emerged close to the support zone for $ 190.00-192.00.

ETH / BTC were exchanged mostly in a range above the 0.0315BTC support. It seems that the pair can rise in the short term towards the resistances 0.0340BTC and 0.0350BTC.

Starting from the 30-minute ETH / USD table, the pair formed a solid base of support above the $ 190.00 level and recovered more in high. It broke the resistance zone of $ 200.00 and a key bearish trendline with resistance at $ 195.00.

In addition, there was a break above the 50 Fibonacci retracement level of the last drop from the $ 227.15 upwards to $ 192.51 below. He cleared the path for other drawbacks over the $ 210.00 resistance. However, Ether vendors have appeared near the $ 215.00 level (the previous support) and Fibonacci's 61.8 drop-down level of the last drop.

Turning to the 2-hour chart of Eth / USD, the pair clearly shows positive signs above the $ 190.00 support. If Ether manages to overcome the resistance of $ 213.00-215.00, there may be a push towards the $ 220.00 level.

On the other hand, a new wave of correction could find support near the $ 202.00 and $ 200.00 levels. Below these, the next crucial support is around $ 190.00.

Overall, the current price action is bullish above the $ 200.00 level. However, ETH / USD buyers must gain traction above the $ 215.00 level to maintain momentum. Otherwise, there is a risk of a downward correction of $ 200.00.

Aayush spent over seven years as a contributor and observer of the financial markets. 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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