Ethereum Price Analysis: ETH/USD flat out at $200 after rejection from 100 SMA

  • Ethereum upswing spiked above $200 but lost momentum at the 100 SMA.
  • A consolidation is possible at $200 even as the MACD shows that the trend is in favor of the bulls.

Ethereum price is pivotal $200 level after soaring to highs above $205. The bullish momentum which was triggered by Bitcoin’s surge towards $10,000 hit a wall at the 100 SMA in the 4-hour range. A retreat from the weekly highs failed to find support at $200, culminating in an extended action to $197 (intraday low). For now, the price has recovered slightly but still unable to overcome the seller congestion zone at $200.

The 50-day SMA is the key short term support, without it, ETH/USD could spiral to test $190. The RSI in the same 4-hour range appears to have slowed down the bearish momentum. As it seeks reprieve at 55, a sideways price action is anticipated. This way, Ether can start to consolidate the gains accrued from last week’s lows at $180. Buyers will also have time to join the market while shifting their focus to $220 and $230 resistance levels.

Interestingly, the MACD suggests that all hope is not lost for the bulls after all the indicator is comfortably seating above the mean line and features a bullish divergence. In other words, there is still potential and room for growth ahead of the weekend session.

ETH/USD 4-hour chart

BTC/USD price 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. 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

Three reasons why Bitcoin price is about to crash

Bitcoin is changing hands around $19,000. The pioneer digital currency lost over 1% in the past 24 hours; however, it is still in the green zone on a week-to-week basis. BTC celebrated the beginning of the first winter month with a new all-time high at $19,915.

More Bitcoin News

XTZ massive takeoff to $3 is in the offing

Tezos is trading at $2.4 following an impressive recovery from the recently established support at $2.16. The breakdown necessitated the upswing at the beginning of December from a price level of around $2.6. 

More Tezos News

Renowned analyst affirms Uniswap price is poised to skyrocket by more than 133%

Uniswap is up 5% in the last 24 hours despite rejection from levels above $4. The decentralized finance (DeFi) token seeks higher support before resuming the uptrend, likely to lead to a 133% rally in the near term.

More Uniswap News

Crypto market bull-run brakes ahead of the weekend magic

The cryptocurrency market is painted in green, apart from a few crypto assets like Polkadot, Uniswap, Yearn.Finance and Huobi Token. Bitcoin is up a subtle 0.9% in the last 24 hours, while Ethereum is trading 2.3% higher.

More Bitcoin News


Bitcoin Weekly Forecast: BTC teetering on the verge of an abyss after conquering a new all-time high

Bitcoin lived through a momentous week. The pioneer digital currency hit the new all-time high at $19,915 and stopped within a whisker of a crucial $20,000. 

Read the weekly forecast