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    Ethereum Price Analysis: ETH Rallying Towards $200 & $220

    Ethereum price is climbing higher and it recently broke the $194.80 resistance area vs the US Dollar. ETH to USD is showing positive signs and it could rise further towards the $220.00 level.

    Key Takeaways: ETH/USD

    • Ethereum price is surging and it cleared the $191.90 and $194.80 resistance levels against the US Dollar.
    • ETH/USD broke a key contracting triangle with resistance near $188.50 on the 2-hours chart (data feed from Bitstamp).
    • Bitcoin price is also rising and it cleared the $9,400 resistance area.

    Ethereum Price Analysis

    Recently, there was a downside correction in Ethereum price below the $188.00 level. However, ETH to USD found support near the $182.00 level and traded as low as $181.97.

    Ethereum Price Analysis
    Ethereum Price Analysis

    Looking at the 2-hours chart, Ethereum price started a fresh increase from the $181.97 low and climbed above the 50 simple moving average (2-hours, purple). The bulls gained pace and pushed the price above the $188.00 and $191.90 resistance levels.

    During the rise, the price broke a key contracting triangle with resistance near $188.50 on the 2-hours chart. It opened the doors for more gains above the 76.4% Fib retracement level of the downside correction from the $194.99 high to $181.97 low.

    Ethereum climbed above the $194.80 resistance and the $194.99 swing high. Finally, it tagged the 1.236 Fib extension level of the downside correction from the $194.99 high to $181.97 low.

    It seems like the price remained just shy of the $200.00 barrier. It is currently showing a lot of positive signs above the $194.00 and $195.00 levels.

    If there is an upside break above the $198.00 and $200.00 levels, the price could continue to rise in the coming sessions. The next major resistance for the bulls is near the $220.00 level.

    Conversely, Ethereum might correct a few points from $198.00 or $200.00 in the near term. In the mentioned case, the price is likely to find support near the $194.00 area. The next major support is near the $188.50 level since the 50 simple moving average (2-hours, purple) is positioned near the stated level.

    Live Ethereum (ETH) Price:

    1 ETH/USD =$264.3943 change ~ 2.38%

    Coin Market Cap

    $29.03 Billion

    24 Hour Volume

    $2.66 Billion

    24 Hour VWAP

    $262

    24 Hour Change

    $6.3033

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    Avatar
    Aayush J
    Aayush is a Senior Cryptocurrency Strategist and Forex Expert who has a decorated history of over a decade in FinTech Markets and IT industries. As a financial markets contributor and observer, his primary focus is on specializing and sharpening his skillset inside the Technical Analysis arena and is well known for his informative and entertaining analytical skills inside the Bitcoin, Etheruem and crypto asset markets.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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