RATE Group | Ethereum Price (ETH) Breaks $225, Bitcoin Rallies 8% To $11,600
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Ethereum Price (ETH) Breaks $225, Bitcoin Rallies 8% To $11,600

05 Aug Ethereum Price (ETH) Breaks $225, Bitcoin Rallies 8% To $11,600

Posted at 05:07h in Bitcoin News by

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  • ETH price gained bullish momentum and broke the $220 resistance level against the US Dollar.
  • The price even climbed above the $225 resistance and tested the $230 zone.
  • There was a break above a major bearish trend line with resistance near $221 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is gaining momentum above the $225 resistance and it could climb towards the $240 level.

Ethereum price is showing a lot of positive signs above $225 versus the US Dollar, while bitcoin rallied 8%. ETH price might continue to climb towards the $240 and $250 levels.

Ethereum Price Analysis

In the past few sessions, there were bullish moves in Ethereum price above $220 against the US Dollar. The ETH/USD pair formed a swing low near the $216 level and recently started a strong upward move. The pair climbed above the key $220 resistance level to start an uptrend. More importantly, bitcoin price rallied above $11,200 (as discussed in the weekly forecast).

During the rise, there was a break…

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