RATE Group | Ethereum (ETH) Eyes Fresh Rally To $200, Bitcoin Up 3%
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Ethereum (ETH) Eyes Fresh Rally To $200, Bitcoin Up 3%

05 Nov Ethereum (ETH) Eyes Fresh Rally To $200, Bitcoin Up 3%

Posted at 03:20h in Bitcoin News by

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  • Ethereum price is rising and it broke the key $185 and $186 resistance levels against the US Dollar.
  • Bitcoin is up around 3% and it managed to climb above the $9,400 resistance.
  • There is a new bullish trend line forming with support near $185 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair remains supported on dips and it could continue to rise towards the $200 level in the near term.

Ethereum price is slowly climbing higher versus the US Dollar, similar to bitcoin. ETH price is likely to rise towards the $200 level as long as above $182.

Ethereum Price Analysis

After forming a support base near $180, Ethereum started a steady rise above $182 against the US Dollar. ETH price recovered and broke a strong resistance near the $185 and $186 levels.

Moreover, there was a close above the $185 level and the 100 hourly simple moving average. During the rise, there was a break above yesterday’s highlighted bearish trend line with resistance near $182.

Finally, the price tested the…

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