Price Analysis of Ethereum: This support is what Ethereum must retrace towards $ 300



  • Ethereum undertook new declines below $ 200 to build lows of 2018 for $ 185.
  • Ethereum 2.0 has been revealed and promises to make the platform a turning point in the industry.

Ethereum has been subjected to strong pressure over a couple of months. The token is highly correlated with Bitcoin (BTC) but the effect of negative pressure on Ethereum is greater. Ethereum declines the new lows of 2018 at the weekend, moreover, the recovery that is currently underway has no catalysts and an impetus to fight with obstacles to the long-term critical resistance at $ 300.

The network has recently revealed the Ethereum 2.0 roadmap. The new protocol was first mentioned in a blog post by Darren Langley, a senior Rocket Pool developer. The highlight of Ethereum 2.0 is the integration of Proof-of0Stake (PoW) and Sharding technology coupled with eWASM. The release of Ethereum 2.0 will once again bring the platform to the highest levels of digital technology and infrastructure. In addition to this, it will have the ability to develop economic systems at the forefront and become a global collaboration hub.

Meanwhile, Ethereum dropped back below $ 200 after the recovery of the year lost its momentum to $ 208. ETH / USD is also traded inside a triangle contractor waiting for a breakout. It is important that buyers push the price above $ 200 to get a $ 300 route. Initial resistance is at 50SMA while 100SMA coincides with 61.8% Fib level to avoid movement towards $ 200 The downside, a break below the triangle support may require a continued break at $ 180 and $ 150. Buyers need support above $ 200 to focus on higher levels.

ETH / USD Chart 15 minutes

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