RATE Group | Ethereum (ETH) Gaining Momentum, $200 Seems Imminent
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Ethereum (ETH) Gaining Momentum, $200 Seems Imminent

30 Oct Ethereum (ETH) Gaining Momentum, $200 Seems Imminent

Posted at 03:45h in Ethereum News by

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  • Ethereum price is rising steadily and trading well above the $188 support against the US Dollar.
  • Bitcoin is facing hurdles near $9,500, but it is likely to continue higher in the near term.
  • There is a new bullish trend line forming with support near $187 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair remains well supported on the downside near the $188 and $185 levels.

Ethereum price is trading in an uptrend above $185 versus the US Dollar, while bitcoin is consolidating. ETH price is likely to continue higher towards the $200 and $205 levels.

Ethereum Price Analysis

After testing the $175 support, Ethereum started a steady rise above the $180 resistance. Moreover, there was a break above the $185 resistance and the 100 hourly simple moving average.

The price even broke the 61.8% Fib retracement level of the last drop from the $199 high to $174 low. It opened the doors for more gains above $190. The price tested the $194 area and it is currently correcting lower.

An…

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