Ethereum is following a robust bullish path above the $200 assist in opposition to the US Greenback, just like bitcoin. ETH value is more likely to proceed greater in the direction of the $240 and $250 ranges.
- ETH value corrected decrease from the $227 excessive, however discovered assist close to $202 in opposition to the US Greenback.
- It’s at the moment rising and buying and selling with a optimistic angle above the $212 stage.
- There’s a essential bullish development line forming with assist close to $212 on the 4-hours chart of ETH/USD (information feed by way of Kraken).
- The pair is more likely to speed up greater in the direction of the $240 and $250 ranges within the close to time period.
Ethereum Worth is in Bullish Zone
This previous week, Ethereum surged above the $200 pivot area in opposition to the US Greenback. ETH value gained bullish momentum above the $210 and $220 ranges to maneuver into a robust uptrend.
There was a correct shut above the $200 pivot stage and the 100 easy shifting common (4-hours). The worth traded to a brand new month-to-month excessive close to $227 earlier than beginning a downside correction.
Ethereum corrected sharply decrease under the $220 and $212 ranges. Nonetheless, the $202 and $200 ranges acted as robust purchase zones. There’s additionally an important bullish development line forming with assist close to $212 on the 4-hours chart of ETH/USD.
A low is shaped close to the $202 stage and the value is at the moment rising. There was a break above the $210 and $212 ranges. ETH climbed above the 50% Fib retracement stage of the draw back correction from the $227 excessive to $202 low. On the upside, an preliminary hurdle is close to the $218 and $220 ranges.
The 61.8% Fib retracement stage of the draw back correction from the $227 excessive to $202 low can also be performing as a resistance. If there’s a clear break above the $220 stage, the value is more likely to proceed greater in the direction of the $227 excessive or $230.
Any additional good points might maybe open the doorways for a bigger rally in the direction of the $240 and $250 resistance ranges within the close to time period.
Dips Stay Supported
Ethereum is more likely to stay effectively bid above the $210 stage and the bullish development line. If there’s a draw back break under the development line, it may revisit the $202 low.
The primary assist is close to the $200 pivot stage. Any additional losses may lead the value in the direction of the $192 assist or the 100 easy shifting common (4-hours).
Technical Indicators
Four hours MACD – The MACD for ETH/USD is shifting again into the bullish zone.
Four hours RSI – The RSI for ETH/USD is at the moment effectively above the 50 stage.
Main Help Stage – $212
Main Resistance Stage – $230
Take advantage of the trading opportunities with Plus500
Danger disclaimer: 76.4% of retail CFD accounts lose cash.