Ethereum price traded below the $215.00 and $210.00 support levels. ETH/USD corrected recently, but the previous support at $215.00 acted as a resistance.

  • Ethereum price settled below an important support area at $215.00.
  • ETH/USD is struggling to break two bearish trend lines with resistance near $215.00 on the 30-minute chart.
  • The price is forming a solid support near the $209.00 and $208.00 levels.

Ethereum Price

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Ethereum Price Analysis

This past week, we saw a solid support around the $214.00-215.00 zone in Ethereum price. Recently, sellers gained traction and pushed the price below the $215.00 and $210.00 support levels.

Ethereum Price Analysis ETH Chart

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Looking at the 30-minute chart of ETH/USD, the pair spiked towards the $206.00 level and formed a low at $206.28. Later, the pair recovered sharply and traded above the $209.00 level. It seems like the price is forming a solid support near the $209.00 and $208.00 levels.


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Buyers recently managed to push the price above the $212.00 level and the 50% Fib retracement level of the last drop from the $217.45 high to $206.28 low. There was even a close above the $212.00 level and the 25 simple moving average (30-min).

However, the upside move was capped by the $214.00-215.00 zone, which was a support earlier and now it is acting as a resistance. More importantly, there are two bearish trend lines in place with resistance near $215.00 on the same chart.

Besides, the price failed to break the 76.4% Fib retracement level of the last drop from the $217.45 high to $206.28 low. Therefore, the $215.00 resistance is clearly a major barrier for buyers in the near term. If there is an upside break above $215.00, it could open the doors for a decent recovery towards the $220.00 or $222.00 levels.

On the downside, an immediate support is near $212.00 and the 25 SMA. If buyers fail to hold gains above $212.00, the price may perhaps revisit the $209.00 support area. The current price action is positive for Ethereum, and it could break $215.00 as long as there is no close below $208.00.

The market data is provided by TradingView, Bitfinex.


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Posted by Latika Mehrotra

Passionate about technology and science. Pursuing Doctorate in the field of Data Mining, Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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