RATE Group | Ethereum Price Analysis: ETH/USD Skyrockets Above $210
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Ethereum Price Analysis: ETH/USD Skyrockets Above $210

14 Sep Ethereum Price Analysis: ETH/USD Skyrockets Above $210

Posted at 07:23h in Ethereum News by

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Key Highlights

  • ETH price surged higher and broke the $200 resistance against the US Dollar.
  • There is a short-term ascending channel in place with support at $216 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is following a solid bullish bias and it could continue to move higher towards the $235-240 levels.

Ethereum price gained bullish momentum against the US Dollar and bitcoin. ETH/USD rallied above the $210 resistance and it looks set for more gains.

Ethereum Price Rally

Finally, there was a sharp upward move noted from the $170 support base in ETH price against the US Dollar. The ETH/USD pair started a solid bullish wave and broke many resistances such as $185, $195, $200 and $210. It even settled above the $200 handle and the 100 hourly simple moving average. During the rise, there was a break above a key connecting bearish trend line at $#185 on the hourly chart of ETH/USD.

The pair even broke the $220 level and traded as high as $224.09 recently. At the moment, it…

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