RATE Group | Ethereum Highly Bullish And Primed To Surge Towards $220
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Ethereum Highly Bullish And Primed To Surge Towards $220

29 Apr Ethereum Highly Bullish And Primed To Surge Towards $220

Posted at 09:14h in Bitcoin News by

Ethereum is trading in a bullish zone above the $195 level against the US Dollar. ETH will most likely clear the $200 resistance for a run towards the $220 level.

  • Ethereum is showing a lot of positive signs above the $195 support zone.
  • The price is currently attempting an upside break above the $200 resistance area.
  • There was a break above a major contracting triangle with resistance near $197 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could surge above the $200 barrier and test the next hurdle at $220.

Ethereum Price Likely to Rally Further

In the past few sessions, Ethereum price remained in a broad range above the $190 level against the US Dollar. ETH bears made a couple of attempts to push the price below the $190 and $188 support levels, but they failed.

The last swing low was formed near $188 before the price regained bullish momentum. It climbed back above the $190 level and the 100 hourly simple moving average. The bulls were able to clear the $195 hurdle for…

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