Ethereum price failed to continue higher and topped near $228.00. ETH price is currently under pressure and it decline further towards the $208.00 or $202.00 support in the near term.

  • Ethereum price is currently showing a lot of bearish signs below $218.00.
  • ETH/USD is following a crucial bearish trend line with resistance near $219.00 on the 30-minute chart.
  • The price is likely to extend its decline below $210.00 before it could start a fresh increase.

Ethereum Price

Ethereum Price Analysis (ETH to USD)

After trading as high as $235.27, Ethereum price started a downside correction. ETH/USD declined steadily and formed a couple of swing highs near $228.00 and $224.00. Finally, the price extended its decline and traded below the $220.00 and $218.00 support levels.

Ethereum Price Analysis (ETH to USD) Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair formed a swing high at $228.00 and declined below the key $218.00 support level. It even traded below the $215.00 support and the 25 simple moving average (30-min).

An intraday low was formed at $211.78 and the price is currently trading in a bearish zone. It recovered above the 23.6% Fib retracement level of the recent decline from the $228.00 high to $211.78 low.

However, the recent recovery was capped by the previous support at $218.00. Moreover, the price stayed well below the 50% Fib retracement level of the recent decline from the $228.00 high to $211.78 low.


It seems like Ethereum price is following a crucial bearish trend line with resistance near $219.00 on the same chart. On the upside, there are two important resistances – $218.00 and $220.00.

If ETH price breaks the trend line and settles above $220.00, it could start a decent upward move towards $230.00 or $235.00. The next important resistance is near the $240.00 level.

On the other hand, if Ether price fails to climb above the trend line and $220.00, it could continue to decline. An immediate support is near the $212.00 level, below which Ethereum might slide towards the $208.00 support. If there are more downsides, ETH/USD could revisit the $202.00 and $200.00 support levels.

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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