Ethereum price traded higher and broke the $92.00 and $96.00 resistances. ETH/USD touched the $100.00 resistance and it is currently correcting lower.

  • Ethereum price traded as high as $100.37 and it is currently correcting gains.
  • ETH/USD surpassed a major bearish trend line at $90.10 on the 30-minute chart.
  • The price is currently following a bullish flag and it could find support near $93.20.

Ethereum ETH Price

Ethereum Price Analysis

Yesterday, we discussed that Ethereum price is primed for more gains above the $90.00 and $92.00 resistance levels. The price did move higher, broke the $90.00, $92.00 and $96.00 barriers, and moved into a bullish zone. Similarly, there were solid gains noted in bitcoin, eos, ripple and other altcoins.

Ethereum Price Analysis ETH Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair gained pace above the $92.00 level and the 25 simple moving average (30-min). During the bullish wave, the price surpassed a major bearish trend line at $90.10.

It cleared the path for a solid upward move and the price even broke the $96.00 and $98.50 resistance. ETH traded as high as $100.37 and it is currently correcting lower.

The price recently declined below the 23.6% Fib retracement level of the recent wave from the $86.00 low to $100.37 high. More importantly, the price is following a bullish flag with current resistance at $98.00 on the same chart.


The current price action suggests that there could be a downside extension below the $95.00 level. The main support is near the $93.20 level and the 50% Fib retracement level of the recent wave from the $86.00 low to $100.37 high.

Once the current correction wave is complete, the price may possibly climb back above $96.00 and $98.00. There are even chances of more upsides above the $100.37 high and the $105.00 resistance.

On the other hand, a break below the $93.20 support may push Ethereum price towards the $91.50 support area, which was a resistance earlier. Overall, ETH remains nicely supported near $93.20 and $91.50 if there is a downside correction.

The market data is provided by TradingView, Bitfinex.

Buy Crypto    Trade Crypto
eToro Risk Warning: 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.


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.

All content on Blockonomi.com is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.

Leave a reply

Your email address will not be published. Required fields are marked *