Ethereum
Long

Ethereum Price Analysis

190
Market Overview
Ethereum managed to surge by a total of 15% over the past week of trading as the cryptocurrency managed to break above the $180 resistance to reach the $197 level. It stayed here for a few days but went on to climb above $200 and closed at the $218 level (bearish .786 Fib Retracement) yesterday.

Today, we can see that Ethereum spiked higher into $230 but since dropped to trade at $211.

Short term prediction: BULLISH
Ethereum is bullish in the short term and would need to drop beneath $200 to turn neutral. It would have to fall beneath $170 to turn bearish.

If the sellers do push lower, the first level of support lies at $210. Beneath this, added support is located at $200, $191, and $180. If the sellers continue to drive ETH beneath $180, support lies at $175 (100-days EMA), $170, and $160.

On the other side, if the bulls break the $218 resistance (bearish .786 Fib Retracement), higher resistance lies at $224 (1.618 Fib Extension). Above this, resistance lies at $230, $235 (bearish .886 Fib Retracement), and $240. This is followed by added resistance at $250 which is the March 2020 high.

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