Ethereum Price Analysis: ETH/USD $200 reclaim around the corner

Ethereum holding chunky gains of over 20% during trading on Monday.
ETH/USD just a small barrier away from reclaiming the big psychological $200 mark.

Ken Chigbo Independent Analyst

Ethereum into the second part of Monday’s session, was trading up with huge gains of over 19%. The bulls are solidifying their recovery stance, as the weekly and now monthly candle for December, look very much attractive for a retest of the 2017/18 high area.

ETH/USD is fast gunning towards its second week of gains, following the strong finish in the prior week. That had marked the first one closed in the green since the week commencing 5th November, which was some five weeks.

The next eyed target for the bulls is the big psychological $200 mark, it is making solid ground towards this. Just a minor barrier seen tracking from $170-185 range, outside of this, it should be a fast move back into $200 territory.

ETH/USD 4-hour chart

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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