Ethereum Price Analysis: Watch out for the 202.50 support zone

Ethereum is 1.6% higher on the session but downside levels look vulnerable.
202.50 is becoming an important support zone as a lower high has been made.

Rajan Dhall, MSTA FX Daily

ETH/USD 1-hour chart

There seems to have been a rejection, ETH/USD at the 225.00 level as the price has currently pulled away from best levels. Now the market has also printed a lower high. This means the support zone at the previous wave low of 202.50 has bigger importance as a break would make a lower high lower low formation.

There are still some bullish signs as the price currently trades above the 200 simple moving average. The 55 exponential moving average however, is currently being tested. Looking at the volume, it seems that the market is not interested here. Lastly, the relative strength index indicator has moved into a negative zone under the 50 mid-line. The interesting thing is that there is still some space to move to the downside.

Additional levels

ETH/USD

Overview
Today last price	209.45
Today Daily Change	3.16
Today Daily Change %	1.53
Today daily open	206.29

Trends
Daily SMA20	180.14
Daily SMA50	154.26
Daily SMA100	187.52
Daily SMA200	172.87

Levels
Previous Daily High	227.37
Previous Daily Low	202.37
Previous Weekly High	194.46
Previous Weekly Low	166.66
Previous Monthly High	227.37
Previous Monthly Low	128.95
Daily Fibonacci 38.2%	211.92
Daily Fibonacci 61.8%	217.82
Daily Pivot Point S1	196.65
Daily Pivot Point S2	187.01
Daily Pivot Point S3	171.65
Daily Pivot Point R1	221.65
Daily Pivot Point R2	237.01
Daily Pivot Point R3	246.65

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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ETH/USD 1-hour chart

Additional levels

ETH/USD

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