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Ethereum price remained in a bearish zone and accelerated declines below the $210.00 support. ETH price might correct higher, but upsides are likely to be capped near $210.00 and $212.00.

  • Ethereum price is extended its decline below the $210.00 and $205.00 supports.
  • ETH/USD is likely to face hurdles on the upside near $208.50 and $210.00 on the 30-minute chart.
  • The price could correct higher, but the bulls are likely to struggle near $210.00 or $212.00.

Ethereum Price

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Ethereum Price Analysis (ETH to USD)

Yesterday, we discussed a possible breakdown in Ethereum price below the $215.00 support level. ETH/USD remained in a bearish zone and accelerated declines below the $210.00 and $205.00 support levels.

Ethereum Price Analysis (ETH to USD) Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair traded close to the $200.00 level, settled below the 22 simple moving average (30-minue), and a swing low was formed near the $201.22 level. At the moment, the price is consolidating losses near the $202.00 level.

An immediate resistance is near the $205.00 level plus the 23.6% Fib retracement level of the recent slide from the $219.39 high to $201.22 low. Moreover, there is a short term contracting triangle forming with resistance near $205.00 on the same chart.


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Therefore, if there is an upside break above $205.00, the price could correct higher towards the $210.00 resistance area. The stated $210.00 level was a support earlier and now it might act as a strong resistance.

Moreover, the 50% Fib retracement level of the recent slide from the $219.39 high to $201.22 low is also near the $210.00 level. Therefore, the price is likely to struggle near the $210.00 resistance.

The next resistance is near the $212.00 level, above which there is a connecting bearish trend line with resistance near $214.00 on the same chart.

After a short term upside correction, Ethereum price is likely to struggle near the $210.00 and $212.00 resistance levels. On the downside, the main support is near the $200.00 area, below which there is a risk of more losses below the $196.00 and $192.00 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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