RATE Group | Ethereum (ETH) Could Recover To $180, Bitcoin Up 5%
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Ethereum (ETH) Could Recover To $180, Bitcoin Up 5%

21 Oct Ethereum (ETH) Could Recover To $180, Bitcoin Up 5%

Posted at 03:50h in Bitcoin News by

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  • Ethereum price is currently correcting higher and is trading above $172 against the US Dollar.
  • Bitcoin price is up more than 4% and it broke the key $8,200 resistance area.
  • There was a break above a key bearish trend line with resistance near $172 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could recover further towards the $180 level, which is a major hurdle for the bulls.

Ethereum price is slowly climbing higher versus the US Dollar, while bitcoin is up 5%. However, ETH price is likely to face a strong resistance near the $180 area.

Ethereum Price Analysis

This past week, Ethereum tested the $168 and $170 support levels on two occasions against the US Dollar. However, the bears were not able to gain strength below $168. As a result, there was a short term upside correction above the $172 resistance. More importantly, bitcoin rallied more than 5% and climbed above the key $8,200 resistance area.

During the rise, ETH price even broke the $175 resistance and the 100…

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