Latest Ethereum price and analysis (ETH to USD)

Ethereum has continued to follow the seemingly uncertain path of Bitcoin this week as it consolidates above a key psychological level of support before the typically low volume weekend.

In Ethereum’s case it is hovering above the $200 level exactly one month after it broke out and surged towards the $219 level of resistance.

The period of consolidation demonstrates a bullish bias at present, although a break down from $200 would almost certainly lead to an initial correction to $177 with $151 being the next level of support below that.

With volume having dropped off significantly this month while price has remained fairly stable it indicates that a major move is coming within the next fortnight.

From a macro perspective the key point Ethereum needs to trade above is $296 as this would mark its first higher low since June, 2019.

It would also tie into the bullish narrative connected to the recent Bitcoin halving, which many expect to be a catalyst for an upcoming cryptocurrency bull…