Ethereum price extended gains and broke the key $200.00 resistance. ETH remains in a strong uptrend and it is likely to trade further above $215.00 or $225.00.

  • Ethereum price is up nearly 10% and it recently broke the key $200.00 resistance.
  • A major bullish trend line is forming with support at $195.50 on the 30-minute chart.
  • ETH price is likely to climb further higher towards $215.00 or $225.00 in the short term.

Ethereum Price

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Ethereum Price Analysis (ETH to USD)

Bitcoin bulls were in control, pushing the price above the $7,850 and $8,000 resistances. It opened the doors for more gains in Ethereum price above the $195.00 and $200.00 resistances. ETH even climbed towards the $210.00 level and it is currently placed in a strong uptrend.

Ethereum Price Analysis ETH Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair broke the key $200.00 and $203.20 resistance levels. Ether even settled nicely above the $200.00 handle and the 25 simple moving average (30-min).

A new monthly high was formed at $210.23 and there are still no signs of a major downside correction. If there is a pullback, an immediate support is $205.80 and the 23.6% Fib retracement level of the recent wave from the $191.49 low to $210.23 high.

However, the key support is at $203.20 (the recent breakout resistance). The next important buy zone is $200.00, and the 50% Fib retracement level of the recent wave from the $191.49 low to $210.23 high.

There is also a major bullish trend line forming with support at $195.50 on the same chart. An intermediate support is near $198.00a and the 25 simple moving average (30-min).

Therefore, if there is a downside correction, the bulls are likely to protect $203.20, $200.00, $198.00 or $195.50. On the upside, an immediate hurdle is near $210.20, above which the price is likely to accelerate towards $215.00 or even $225.00.

Overall, the market is clearly surging higher, with strong gains in bitcoin, ripple, bitcoin cash, binance coin, EOS, cardano and litecoin. Therefore, Ethereum price could continue higher towards $225.00 in the next three sessions.

The market data is provided by TradingView, Bitfinex.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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