Essential Highlights

  • ETH selling price struggled to break the $208-209 resistance spot and it largely consolidated against the US Greenback.
  • There is a significant bullish trend line fashioned with support at $205 on the hourly chart of ETH/USD (data feed by way of Kraken).
  • The pair may accurate a several details in the direction of $202 or $200 right before it climbs again higher.

Ethereum selling price is slowly but surely losing grip against the US Greenback and bitcoin. ETH/USD should break the $208 and $209 resistance stages to get traction.

Ethereum Price Assessment

In the course of the earlier a few classes, there was a steady rise above the $205 level in ETH selling price against the US Greenback. The ETH/USD pair even traded above $207 level, but it struggled to clear the $208-209 resistance zone. There were two rejections noted beneath the $210 level and it seems like purchasers are losing momentum. In the course of the latest rise, the selling price climbed above the 23.6% Fib retracement level of the latest decrease from the $220 high to $197 low.

On the draw back, there is a first rate support fashioned around $202. There is also a significant bullish trend line fashioned with support at $205 on the hourly chart of ETH/USD. If there is a break beneath the trend line, the selling price may exam the $202 support and the 100 hourly SMA. Below this, the upcoming crucial support for purchasers is close to the $197-198 zone. On the upside, the selling price has to break the $208-209 resistance. Also, the 50% Fib retracement level of the latest decrease from the $220 high to $197 low is also close to $208.78 to avoid gains.

Ethereum Price Analysis ETH Chart

Looking at the chart, ETH selling price could accurate lower in the direction of $202 or $197 in the close to phrase. When a correction wave is finish, there could be an upward shift in the direction of the $208 or $212 level.

Hourly MACDThe MACD is at present flat in the bearish zone.

Hourly RSIThe RSI is moving flat, but it is at present nicely above the 50 level.

Main Assistance Level – $197

Main Resistance Level – $208

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