RATE Group | Ethereum Price Analysis: Can ETH/USD Extend Recovery Above $200?
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Ethereum Price Analysis: Can ETH/USD Extend Recovery Above $200?

13 Sep Ethereum Price Analysis: Can ETH/USD Extend Recovery Above $200?

Posted at 06:59h in Ethereum News by

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Key Highlights

  • ETH price started an upside correction after it found support near $168 against the US Dollar.
  • There was a break above a major declining channel with resistance at $183 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to face a strong resistance near the $200 level and the 100 hourly simple moving average.

Ethereum price is slowly recovering against the US Dollar and bitcoin. ETH/USD buyers could face a tough challenge near the $190-200 resistance zone.

Ethereum Price Resistance

Yesterday, we saw a downside break below the $175 level in ETH price against the US Dollar. The ETH/USD pair traded towards the $165 support and found bids near the $168 level. Later, the price started an upside correction and moved back above the $175 level. During the upside, the price also broke the $180 resistance. It opened the doors for a push above the 50% Fib retracement level of the last slide from the $199 high to $168 low.

More importantly, there was a break above…

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