Ethereum Technical Analysis: ETH/USD price set to return to pre-November fall territory, big

Ethereum price Monday is trading with gains of some 6.5% in the second half of the day, as the bulls storm higher.
ETH/USD price looking to stabilize within the $200 price territory, trading at the highest level since 14th November.
Next major target area of interest for the bulls will likely be the $220 area, pre-November fall territory.

Ken Chigbo Independent Analyst

Spot rate: 202.62

Relative change: +6.57%

High: 207.18

Low: 185.77

ETH/USD 60-minute chart

Bulls are attempting to breakdown the near-term supply area around the $205 price mark.

ETH/USD daily chart

Next major barrier is seen just ahead at the $220 area via the daily, which would complete recovery of the November 2018 drop.

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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