Ethereum Price Analysis: ETH/USD bullish momentum is growing following reclaim of $200


  • Ethereum price is trading in the green by 6.55% in the session on Wednesday. 
  • ETH/USD found a decent wave of buying momentum, after consolidating below $200. 
  • Buyer confidence is quickly returning, given the noted psychological area breach. 

ETH/USD daily chart

Following the move back above $200, there will be room for a fast return back up to $250, the next major upside barrier and then $280. It is also worth noting the bulls were able to break down a descending trend line, which had been in play since 15 February. 

ETH/USD 60-minute chart

An explosive move higher was observed via the 60-minute chart view, after the bulls smashed out of a narrowing range block. 


 

Spot rate:                      209.50

Relative change:          +6.55%

High:                             211.32

Low:                              196.65

 

 

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.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin leads the pack aiming for new yearly highs

The cryptocurrency market is slugging in recovery, accept for Bitcoin. Intense pressure continues to build on critical levels for major cryptocurrencies.

More Bitcoin News

TRX ready for a major price explosion according to indicators

Tron has been trading inside a tight range from $0.028 to $0.0239 for the past three weeks without a clear direction. Several indicators show that TRX is on the verge of a massive breakout, but in which direction? Let’s take a look at some different metrics to find out.

More Tron News

MKR on-chain metrics say prices are ready to shoot

Maker (MKR) is the 35th largest digital asset with a current market capitalization of $560 million and an average daily trading volume of $19 million. At the time of writing, the coin is changing hands at $558, down nearly 2% since this time on Monday.

More Cryptocurrencies News

Filecoin puts a good face on the matter as miners flee the network

The miners of the decentralized data storage network Filecoin started to abandon the project several days after the mainnet launch. They complain about the unjust economic model that forces them marketing FIL tokens to stay afloat.

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin: BTC ready to escape from the range; bulls have $12,000 in mind

Bitcoin has been gaining ground amid positive fundamental developments. The flagship cryptocurrency is ready to break free from its current range and proceed with the recovery towards $12,000. 

Read the weekly forecast

BTC

ETH

XRP