Ethereum Price Analysis: ETH/USD bulls have room to drive price back into $200 territory


  • Ethereum price is trading in the red by -0.80% in the session on Wednesday. 
  • The bulls pressed for a big double-digit rally on Tuesday, breaking out of a bearish trend structure. 
  • In terms of upside targets, the door has been left open for a return into $200.

 

ETH/USD weekly chart

The current weekly candle is on course for its best performance since the week commencing 20 September. Bulls are running towards the fourth consecutive in the green. 

ETH/USD daily chart

Price action since June 2019 had been stuck within the market structure of producing lower highs and lower lows. However, the bulls in the session of Tuesday broke above the prior lower high, effectively voiding the structure. 

 

Spot rate:                      164.33

Relative change:          -0.85%

High:                            171.67

Low:                             143.50

ETH/USD

Overview
Today last price 164.38
Today Daily Change -1.34
Today Daily Change % -0.81
Today daily open 165.72
 
Trends
Daily SMA20 137.24
Daily SMA50 139.84
Daily SMA100 159.21
Daily SMA200 187.87
 
Levels
Previous Daily High 170.43
Previous Daily Low 143.51
Previous Weekly High 147.96
Previous Weekly Low 134.2
Previous Monthly High 153.16
Previous Monthly Low 116.41
Daily Fibonacci 38.2% 160.14
Daily Fibonacci 61.8% 153.79
Daily Pivot Point S1 149.34
Daily Pivot Point S2 132.96
Daily Pivot Point S3 122.42
Daily Pivot Point R1 176.26
Daily Pivot Point R2 186.8
Daily Pivot Point R3 203.18

 

 

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.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

XRP price eyes deeper losses, as 200-DMA looks at risk

XRP price is licking its wounds so far this Saturday, having reached the lowest in three months at $0.7691 on Friday. XRP bears are set to breach the 200-DMA, with a test of May lows likely. Ripple confirmed a symmetrical triangle breakdown on the daily chart. The path of least resistance appears to down despite the tepid bounce.

More Ripple news

SafeMoon Price sees a dead cat bounce before the next downswing kicks in

SAFEMOON price is fading the recovery momentum this Saturday after falling for four days in a row earlier this week. Technical up on the 4H chart paints a bearish picture. RSI remains bearish, as more weakness likely in the near term.

More SafeMoon News

DOGE price eyes $0.1950 if key 100-DMA support caves in

Dogecoin sellers refuse to give up, as the bearish momentum extends into the fifth consecutive day on Saturday. Dogecoin price eyes a break below key 100-DMA support on the daily chart. The May 19 flash crash lows at $0.1950 remain on the sellers’ radars. 

More Dogecoin news

Cardano price stalls four-day losing streak, but not out of the woods yet

Cardano (ADA/USD) is snapping its four-day losing streak, attempting a minor recovery on Saturday amid a sluggish tone seen across the crypto market. ADA price is down about 3% over the week, having risen 750% from the start of the year. 

More Cardano News

BEST CRYPTO BROKERS/EXCHANGES



Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP