RATE Group | Ethereum price analysis: ETH/USD creeps above $200
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Ethereum price analysis: ETH/USD creeps above $200

17 Jul Ethereum price analysis: ETH/USD creeps above $200

Posted at 06:13h in Ethereum News by

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  • ETH/USD bulls are celebrating victory as the coin trades above the critical $200.
  • An ultimate resistance is created by $230 handle.

Ethereum, the second-largest cryptocurrency with the current market capitalization of $21 billion, crashed below $200.00 handle and touched $190.00 on Tuesday amid major sell-off on the cryptocurrency market. ETH/USD has lost over 13% of its value in recent 24 hours and stayed unchanged since the beginning of Wednesday. By the time of writing, the coin managed to regain ground and settled $201.00.

Read also: Set Labs unveils Ethereum strategy trading bots
https://www.fxstreet.com/cryptocurrencies/news/set-labs-unveils-ethereum-trading-strategy-bots-201907162254

Ethereum’s technical picture

On the daily chart, a sustainable move above $200 will mitigate the immediate bearish pressure and create a precondition for an extended upside towards $230.00, which is the lower boundary of the recently broken channel strengthened by SMA100…

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