• Ethereum price recovery stumbled on approach to critical $200.00.
  • An important short-term support is created by $180.00.
     

ETH has been moving in a tight range after a strong sell-off from the recent high of $197.00. The second-largest con with the current market value of $19.8 billion has recovered from October 12 low of $177.22 to trade at $183.50 at the time of writing, however, the upside momentum is weak. 

Ethereum’s technical picture

On the intraday charts, the initial resistance is created by a combination of SMA50 (Simple Moving Average) and the upper line of a Bollinger Band on the one-hour timeframe. Once it is out of the way, the recovery is likely to gain traction with the next focus on psychological $190.00, followed by the above-said high of $197.50. A host of speculative sell-orders located on the approach to $200.00 is likely to slow down the recovery and push the price back inside the range.

On the downside, the initial support is located on approach $182.50. This barrier is created by a confluence of SMA50 and SMA200 on the one-hour timeframe. While this area may slow down the sell-off, a sustainable move lower will increase the bearish pressure with the next focus on psychological $180.00 with the lower line of one-hour Bollinger Band located on approach. 


ETH/USD, one-hour chart

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin: 100x growth in next 9 years?

BTCC head Bobby Lee waits for Bitcoin for $1 million in 9 years due to the unwise policy of central banks, as well as due to demand on "digital gold". But this is then, and for now, Bitcoin is unable to hold even above $9K.

More Bitcoin News

Litecoin (LTC) locked in a range amid low market activity

Litecoin (LTC), the sixth-largest digital asset, has been moving sideways recently. The coin has stayed mostly unchanged both on a day-to-day basis and since the beginning of Tuesday. 

More Litecoin News

Crypto Today: China promises not to use digital Yuan to intrusion

The main actors of the crypto board continue to express the lack of trend force that began on Monday. Cardano stands out today with a rise of 2.15% against the US dollar.

More Cryptocurrencies News

Ripple price prediction: XRP/USD drifts towards $0.2700 – Confluence Detector

Ripple’s XRP has been drifting down towards the support area at $0.2700 since the beginning of the week. The coin touched $0.2893 low on Monday, though a host of stop orders located around $0.2700 stopped the sell-off and pushed the price to $0.2730.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast

BTC

ETH

XRP