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Ethereum technical analysis: ETH/USD $200 barrier is proving to be a problem

  • Ethereum price is trading in the green, up 0.25% the session on Wednesday.
  • ETH/USD continues to move within a narrowing range, subject to further committed direction. 
  • A strong barrier of resistance is in the way of greater upside at the psychological $200 mark.
Ethereum technical analysis: ETH/USD $200 barrier is proving to be a problem
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

The price is moving just underneath the $200 area, one push away from a breach. A daily closure above could be very inviting for more upside pressure. 

ETH/USD 60-minute chart

An important near-term ascending trend line can be observed via the 60-minute chart view. 

Spot rate:                  189.45

Relative change:      +0.25%

High:                         194.80

Low:                          188.10

Author

Ken Chigbo

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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