RATE Group | Ethereum (ETH) Price Smashes Resistance, $200 Now In Sight
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Ethereum (ETH) Price Smashes Resistance, $200 Now In Sight

10 Oct Ethereum (ETH) Price Smashes Resistance, $200 Now In Sight

Posted at 03:39h in Ethereum News by

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  • ETH price surged higher and broke the key $185 resistance against the US Dollar.
  • The price is currently correcting lower after setting a new monthly high near the $196 level.
  • There is a short term breakout pattern forming with support near $191 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could correct lower towards $190 or even $185 before a fresh increase in the near term.

Ethereum price is showing a lot of positive signs versus the US Dollar and bitcoin. ETH price is now trading nicely above $185 and it could soon test $200.

Ethereum Price Analysis

After a minor downside correction, Ethereum started a fresh increase from the $175 support against the US Dollar. ETH price surged above the $180 and $185 resistance levels. Moreover, there was a close above the $185 resistance and the 100 hourly simple moving average. The upward move was such that the price even surpassed the $190 level and traded to a new monthly high near $196.

At the moment, the price is consolidating…

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