Ethereum price surged above the $220.00 resistance area and traded at $230.00. ETH is in a strong uptrend and it could continue higher towards $250.00 in the near term.

  • Ethereum price retained bullish strength and recently broke the key $220.00 resistance.
  • A short term bullish trend line is forming with support at $222.20 on the 30-minute chart.
  • ETH price just broke $230.00 to start the next leg higher towards the $250.00 resistance.

Ethereum Price

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Ethereum Price Analysis (ETH to USD)

Bitcoin price started a downside correction recently, but Ethereum price extended gains above the $215.00 level. ETH broke the key $220.00 resistance and traded to a new 2019 high near the $229.68 level.

Ethereum Price Analysis ETH Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair remained in a strong uptrend above the $203.20 pivot level and the 25 simple moving average (30-min). The bulls were successful in pushing the price to a new weekly high above $220.00 and still there are no major bearish signs.


The price corrected slightly below $228.00 and tested the 23.6% Fib retracement level of the recent wave from the $203.45 low to $229.68 high. An immediate support is near $222.00 and a short term bullish trend line at $222.20 on the same chart.

If there is a downside break below the trend line, the price could test the $216.50 support or the 25 simple moving average (30-min).

Besides, the 50% Fib retracement level of the recent wave from the $203.45 low to $229.68 high is near the $216.57 level to act as a support. The main support is near $212.20 and another bullish trend line on the same chart.

Therefore, if there is a downside correction, the $216.50 or $212.20 supports are likely to act as strong buy zones. On the upside, a clear break above the $230.00 level could open the gates for more gains in Ethereum price towards the $242.00 or $244.00 level.

The main hurdle for ETH bulls is near the $250.00 level, where sellers might take a stand and start a substantial downside correction.

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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