Ethereum Price Analysis: ETH/USD must break above $200 to escape the bear market

Ethereum price is trading in the green by 6.35% in the session on Wednesday.
ETH/USD remains stuck within the confinements of a bearish flag structure.
Price action has been consolidating since 13 March, after the falling.

Ken Chigbo Independent Analyst

ETH/USD daily chart

Supply remains heavy from the range of $175 up to $190, ahead of the $200 retest.

ETH/USD 60-minute chart

Price action smashed out to the upside from a bullish pennant structure, inviting a fresh wave of buying pressure, hourly supply zone seen just ahead.

Spot rate: 153.38

Relative change: +6.35%

High: 183.39

Low: 170.06

ETH/USD

Overview
Today last price	182.27
Today Daily Change	11.29
Today Daily Change %	6.60
Today daily open	170.98

Trends
Daily SMA20	162.34
Daily SMA50	158.15
Daily SMA100	184.74
Daily SMA200	172.19

Levels
Previous Daily High	174.84
Previous Daily Low	168.42
Previous Weekly High	175.11
Previous Weekly Low	148.3
Previous Monthly High	252.76
Previous Monthly Low	89.65
Daily Fibonacci 38.2%	172.39
Daily Fibonacci 61.8%	170.87
Daily Pivot Point S1	167.98
Daily Pivot Point S2	164.98
Daily Pivot Point S3	161.55
Daily Pivot Point R1	174.41
Daily Pivot Point R2	177.84
Daily Pivot Point R3	180.84

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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Ethereum Price Analysis: ETH/USD must break above $200 to escape the bear market