Ethereum Price (ETH) Touches $200 While Bitcoin Is Declining

ETH price extended its gains above the $195 resistance level against the US Dollar.
Bitcoin price is down more than 1.5% and it recently broke the $10,250 support area.
Yesterdays highlighted major bullish trend line is active with support near $193 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is currently consolidating gains and it might soon attempt to climb above the $200 resistance.

Ethereum price is trading higher towards $200 and $205 versus the US Dollar, while bitcoin is declining. ETH price could continue to rise towards $205 or even $210.

Ethereum Price Analysis

Yesterday, we saw a nice upward move in ETH price above the $185 resistance against the US Dollar. Moreover, we discussed the chances of more upsides and a test of the $200 level. The price did climb higher, broke the $195 swing high, and recently traded close to the $200 level. On the other hand, bitcoin remained in a bearish zone and declined below the $10,300 and $10,250 support levels.

Ethereum price formed a new monthly high near $200 and it is currently consolidating gains. An immediate support is near the $197 level. It coincides with the 23.6% Fib retracement level of the last leg from the $189 swing low to $200 high. If there is an extended downside correction, the price could test the $195 support area. Additionally, the 50% Fib retracement level of the last leg from the $189 swing low to $200 high is also near the $195 level.

More importantly, yesterdays highlighted major bullish trend line is active with support near $193 on the hourly chart of ETH/USD. The main support for Ethereum is near the $185 level (the previous resistance). Therefore, dips remain well supported in the near term towards $195 and $193. On the upside, an immediate resistance is near the $200 handle.

If the price breaks the $200 level, there are high chances of it surpassing the $205 resistance level. The next key resistance is near the $210 level, above which the price could surge towards the $220-$225 zone.

Looking at the chart, Ethereum price is clearly outperforming bitcoin and other altcoins. As long as it is trading above the trend line support and $185, there are chances of more gains. It would be interesting to see how bears react once the price surpasses the $200 barrier and attempts to climb above $205.

ETH Technical Indicators

Hourly MACD The MACD for ETH/USD is currently in the bullish zone, with positive signs.

Hourly RSI The RSI for ETH/USD is currently correcting lower and it might test the 60 level.

Major Support Level $193

Major Resistance Level $200

The post Ethereum Price (ETH) Touches $200 While Bitcoin Is Declining appeared first on NewsBTC.

16.09.2019 / 20:20 21
Ethereum Price (ETH) In Corrective Decrease But Likely To Bounce Back Ethereum Price (ETH) In Corrective
ETH price is slowly moving down and recently broke the $180 support area against the US Dollar. The price could soon test the $172 or $170 level
Ethereum Price (ETH) Correcting Gains, Another Dip Before Higher? Ethereum Price (ETH) Correcting Gains,
ETH price climbed higher recently above $220 before starting a downside correction against the US Dollar. The price traded as high as $226 and
Ethereum (ETH) Price Rally Alongside Bitcoin: More Upsides Likely Ethereum (ETH) Price Rally Alongside
ETH price started a fresh increase and broke the key $265 resistance area against the US Dollar. The price settled above the $265 level and traded
Ethereum (ETH) Price Starts Fresh Increase: Bitcoin Leading Gains Ethereum (ETH) Price Starts Fresh
ETH price found support near the $156 level and recently bounced back against the US Dollar. The price is currently trading nicely above the $156 and
Ethereum Price Analysis: Selling ETH Close To $135 A Good Deal Ethereum Price Analysis: Selling ETH
ETH price failed to climb above the $137 resistance and declined later against the US Dollar. The price declined heavily and broke the $134 and $132
Ethereum Price Analysis: ETH Gains Pace Above $100, Could Test $115 Ethereum Price Analysis: ETH Gains Pace
Key Highlights ETH price gained pace and broke the $97 and $99 resistance levels against the US Dollar. There is a connecting bullish trend line
Comments (0)
Add a comment
Comment on