- Ethereum price once again loses steam short of $205 as selling pressure continues to dominate.
- ETH/USD is holding ground above the initial support at $201; the technical outlook remains drab.
Ethereum price appears to be losing ground during the European session. Intraday gains have been limited under $205 (initial resistance). On the downside, $202 is function as the immediate support. The correction from the initial resistance has also extended the losses under a key trendline support. Meanwhile, ETH/USD is trading at $202.13 while facing increased selling activities.
Ethereum confluence resistance and support areas
According to the confluence tool, Ethereum is facing acute resistance at $203.51 - $205.62. This zone is the largest congestion of sellers and is highlighted by the 38.2% one-day, the previous low 4-hour, the Bollinger band 1-day middle, the previous high 15-minutes, the SMA 100 15-minutes, SMA five 4-hour, the previous high 4-hour and the Bollinger Band 1-hour upper curve among others. Following a break above this zone, bulls only need to overcome the hurdle at $207 to open the way for gains above $210.
On the flipside, Ethereum supported initially at $201 as highlighted by the Bollinger Band 4-hpur lower curve, the Fibo 61.8% one-day and the 100 SMA 4-hour. Movement below $200 will seek refuge at various support levels including =$195, $190 and $186.
 (23)-637260753561396909.png)
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC consolidates while ETH and XRP show some strength
Bitcoin (BTC) consolidated between $94,000 and $100,000 in the last nine days. Ethereum (ETH) and Ripple (XRP) prices stood relatively stronger and have gained nearly 3% and 7%, respectively, this week.
Trump's US reciprocal tariffs pause fails to improve Bitcoin and crypto market outlook
Bitcoin (BTC) and top cryptos halted their declines following a pause in President Donald Trump's reciprocal tariff plans, which were originally scheduled to go live on Thursday.
Ripple vs SEC battle nears end as the regulator acknowledges Grayscale XRP ETF filing
Ripple's XRP is up 4% in the early hours of Friday following the Securities and Exchange Commission (SEC) acknowledgment of Grayscale's 19b-4 filing to convert its XRP Trust to an ETF.
200,000 New Investors Buy Ripple (XRP) 30-Days After Gensler’s Farewell: What Next for Stellar (XLM)?
Ripple (XRP) price consolidated around $2.40 on Thursday, up 11% since Monday, technical indicators suggest Stellar (XLM) has joined the rally.
Bitcoin: BTC consolidates before a big move
Bitcoin's (BTC) price has been consolidating between $94,000 and $100,000 for the last ten days, and, when writing on Friday, it hovers around $97,000. Despite this consolidation, US Bitcoin spot Exchange Traded Funds (ETFs) data recorded a total net outflow of $650.80 million until Thursday, hinting signs of weakness among institutional investors.
The Best Brokers of the Year
SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.