RATE Group | Ethereum Hesitates But Further Gains Seem Likely Towards $200
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Ethereum Hesitates But Further Gains Seem Likely Towards $200

20 Apr Ethereum Hesitates But Further Gains Seem Likely Towards $200

Posted at 07:32h in Bitcoin News by

Ethereum is trading nicely above the $175 support area against the US Dollar. ETH price is showing a lot of positive signs and it could continue to rise towards $188 and $195.

  • Ethereum corrected lower and tested the main $175 support area.
  • The price is currently rising and trading above the $180 pivot level.
  • There is a major bullish trend line forming with support near $178 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair is likely to accelerate higher once it clears the $185 and $188 resistance levels.

Ethereum Price Could Resume Uptrend

In the past few days, we saw a sharp rise in Ethereum above the $165 and $175 resistance levels against the US Dollar. ETH price even surpassed the $180 resistance and settled well above the 100 hourly simple moving average.

It traded to a new monthly high near $188 before starting a downside correction (similar to bitcoin). There was a correction below the $180 level, but the bulls were able to defend the key $175 support area.

It seems…

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