RATE Group | As Ether Grinds Upward Past $200, These Signals Can Fuel ETH Price
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As Ether Grinds Upward Past $200, These Signals Can Fuel ETH Price

19 May As Ether Grinds Upward Past $200, These Signals Can Fuel ETH Price

Posted at 06:13h in Cryptocurrency News by

While the focus has been on Bitcoin’s (BTC) price recently, it is slowly shifting toward different projects. There’s a straightforward reason for that: The halving has passed by, so the markets are reverting to their normal day-to-day fluctuations. Hence, altcoins can regain some more attention.

Based on that assumption, an analysis of Ethereum and its native token Ether (ETH), the second-biggest cryptocurrency by market capitalization, is warranted.

Crypto market daily performance. Source: Coin360

Crypto market daily performance. Source: Coin360

Ether facing heavy resistance between $215–$230 as next hurdle

While Bitcoin has been acting inside a range of post-halving, the same can be stated about Ether. The price of ETH has found support in the $168–$175 area, while the price is still unable to break through the upper barrier at $215–$230.

ETH USD 1-day chart. Source: TradingView

ETH–USD one-day chart. Source: TradingView

More remarkably, the price of Ether is heavily lagging behind the price of Bitcoin. BTC has rallied back to the highs of February, while Ether…

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