Ethereum price is trading in a broad range versus the US Dollar and bitcoin. ETH price remains well bid above the $178 support and it could soon make an upward move.<\/p>\n
In the past few days, Ethereum consolidated in a broad range above the $180 support against the US Dollar. ETH bears made a few attempts to push the price below the $180 and $178 support levels, but they failed.<\/p>\n
Similarly, there was no upside break above the $188 and $190 resistance. Recently, the price revisited the $182 support area and started a fresh increase. It broke the $185 resistance and the 100 hourly simple moving average.<\/p>\n
Moreover, there was a spike above the $188 resistance. However, Ethereum failed to surpass the $190 resistance area and it is currently correcting recent gains. It is now trading below the 23.6% Fib retracement level of the upward move from the $182 low to $190 swing high.<\/p>\n
At the moment, the price is approaching the $186 level and the 100 hourly simple moving average. Besides, there is a short term ascending channel forming with support near $186 on the hourly chart of ETH\/USD.<\/p>\n
More importantly, the 50% Fib retracement level of the upward move from the $182 low to $190 swing high is just below the channel support. Therefore, the price could find bids near $185 and continue higher.<\/p>\n
On the upside, the $188 and $190 levels are important hurdles for the bulls. A successful close above the $190 level is needed for a bullish continuation. The next key resistances are near $200 and $205.<\/p>\n
Conversely, the price could break the channel support and decline below $185. In the mentioned case, the price is likely to revisit the range support area near the $182 level.<\/p>\n
Ethereum Price<\/p>\n
Looking at the chart, Ethereum price is stuck in a broad range above the $182 and $180 supports. If the bears continue to struggle near $182, the price is likely to start a strong upward move above $190 in the near term.<\/p>\n
Hourly MACD The MACD for ETH\/USD is slowly losing momentum in the bullish zone.<\/p>\n
Hourly RSI The RSI for ETH\/USD is currently declining and approaching the 50 level.<\/p>\n
Major Support Level $182<\/p>\n
Major Resistance Level $190<\/p>\n
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Ethereum (ETH) Could Break Higher After Long Consolidation - newsBTC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum price is trading in a broad range versus the US Dollar and bitcoin. ETH price remains well bid above the $178 support and it could soon make an upward move. Continue reading