RATE Group | Ethereum Price Analysis: ETH/USD Facing Key Resistance Near $215
41915
wp-singular,post-template-default,single,single-post,postid-41915,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Ethereum Price Analysis: ETH/USD Facing Key Resistance Near $215

11 Sep Ethereum Price Analysis: ETH/USD Facing Key Resistance Near $215

Posted at 06:10h in Ethereum News by

[ad_1]

Key Highlights

  • ETH price started a short term upside correction after trading as low as $185 against the US Dollar.
  • There is a crucial bearish trend line in place with resistance at $205 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is facing many strong resistances near the $205, $213 and $215 levels.

Ethereum price is slowly correcting higher against the US Dollar and bitcoin. ETH/USD must break the $215 resistance to recover nicely in the near term.

Ethereum Price Resistance

This past week, we saw a major downside break below the $210 support in ETH price against the US Dollar. The ETH/USD pair traded as low as $185 and later started a minor upside correction. It moved higher and broke the $200 resistance. There was also a break above the 23.6% Fib retracement level of the last slide from the $234 high to $185 low.

However, the upside move was capped by the $208 level. More importantly, there is a crucial bearish trend line in place with resistance at $205 on the…

[ad_2]

Source link