RATE Group | Ethereum price analysis: Eyes on $250 as Tron’s Justin Sun cautions against launching dA…
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Ethereum price analysis: Eyes on $250 as Tron’s Justin Sun cautions against launching dA…

24 Sep Ethereum price analysis: Eyes on $250 as Tron’s Justin Sun cautions against launching dA…

Posted at 09:30h in Ethereum News by

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  • Ethereum revamped the uptrend towards $250 as the market welcomed the widespread gains.
  • Ethereum is currently supported at $230 but the buyers have $250 in sight.

Ethereum has been struggling in rough bloody waters in the past couple of months. The cryptocurrency traded lows of $167 early this month. It then stuck below $200 for a while before that spike last week. Using the support at $195, Ethereum embarked on a journey of breaking barriers towards $300. However, it brushed shoulders with $250 before correcting lightly lower over the last weekend.

At present, Ethereum had broken below the rising trendline support and is seeking balance at $230. The 38.2% Fib retracement level with the previous swing high of $254.82 and a swing low of $197.58 is the immediate resistance. The next resistance target is at $240 but the significant hurdles lies at the 23.6% Fib level which coincides with the hourly 50 simple moving average. The bulls have their eyes set on $250, besides a break…

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