Ethereum Price Prediction: ETH/USD buyers gunning for $200 - Confluence Detector

Ethereum price in the second half of trading on Thursday is holding decent gains of some 3%.
ETH/USD bulls are gunning for a retest of the $200 price territory, after the failure earlier in the month.

Ken Chigbo Independent Analyst

Ethereum price on Thursday in the second half of the session is trading in the green with decent gains of 3.30%. ETH/USD bulls have returned as they solidify their comeback, running at the third consecutive session in the green.

ETH/USD will be making another attempt at regaining the $200 price territory, after faltering to reclaim this earlier in the month. Big sellers piled into the price on 8th April, after touching just shy of $190.

Looking via the daily confluence detector, firstly the barriers of resistance; $175.31, monthly pivot point resistance, Fibonacci, $177.11 weekly 61.8% Fibonacci. To the downside in terms of support; $169.93, weekly 38.2% Fibonacci, $166.35, daily 61.8% Fibonacci and weekly 23.6% Fibonacci.

ETH/USD daily confluence detector

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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