In today’s Ethereum price analysis, the coin is trading in a bullish trend zone and is likely to accelerate further if it breaks the $195 and $200 resistance levels.
Recently, there was a steady rise in the price of Ethereum (ETH) above the $175 and $180 resistance levels. Moreover, the price surpassed the $190 level and traded to a new 2020 high at $195. Thereafter, Ethereum price corrected lower below the $192 level. However, the $185 support level acted as a strong buy zone.
At the time of writing this Ethereum price analysis, the coin has risen and is trading at the $195 level.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.
On the 1-hour chart, the price of ETHUSD is in a bullish trend. The pair is trading above key resistance near $190. As long as there is no close below the $195 level, there are chances of a larger rally above the $200 and $205 levels in the short term.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.
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