Ethereum Price Analysis: Bulls might fall short ahead of the 200.00 level
|- ETH/USD still holds above the 200 SMA but can't hit the psychological 200 level.
- 175 could provide some intraday support if the bears regain control.
Ethereum Daily Chart
The daily ethereum chart below shows that recently the price has risen above the 200 simple moving average and managed to hold.
Since then the bulls have seem to have run out of upside momentum.
Over the last couple of candles upside shadows have been forming which could indicate some weakness is to come.
The 200 level has now become an important resistance and it would be an encouraging sign for the bulls if it could be broken,
On the downside, support is around 175 on the intraday charts and on the higher timeframes, 155 looks stronger.
Volume has started wearing thing since the big volume spike on January 14th but this is to be expected as global risks (coronavirus) ease slightly.
-637163422683960870.png){kind=link}
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.