Advertising revenue keep this site going. We do not actively endorse ads served to us.
Please use your due diligence while on this site.
We also do not get information from our visitors.
cryptocurrency March 2, 2020

Ethereum is currently consolidating above the $212 support area against the US Dollar. ETH price must climb above $228 and $238 to start a strong recovery in the near term.Ethereum is showing a few positive signs above the $212 level against the US Dollar.The price is likely to retest $228, which is the first major hurdle for the bulls.There is a key bearish trend line forming with resistance near $228 on the hourly chart of ETH/USD (data feed via Kraken).Bitcoin price is also consolidating above the $8,500 support area.Ethereum Price Facing HurdlesIn the past few sessions, Ethereum mostly traded in a range below the $228 and $230 levels against the US Dollar. ETH price seems to be consolidating in a contracting range, with resistance near the 100 hourly simple moving average and support near $212.The recent low was $212 and the price is currently moving higher. It is testing the 50% Fib retracement level of the downside reaction from the $228 high to $212 low. On the upside, there are many key hurdles waiting near the $225 and $228 levels.An initial resistance is near the $222 level. It represents the 61.8% Fib retracement level of the downside reaction from the $228 high to $212 low. The first major hurdle for the bulls is near the $228 level.More importantly, there is a key bearish trend line forming with resistance near $228 on the hourly chart of ETH/USD. Therefore, Ethereum could struggle to gain bullish momentum above the $225 and $228 levels.Ethereum PriceEthereum PriceThe next major resistance is near the $238 level (the breakout zone). A successful close above the $238 level could open the doors for a larger upward move in the near term. The next stop for the bulls may perhaps be $255 or even $260.Downside Break?If Ethereum fails to recover above the $225 and $228 resistance levels, it might start another decline. On the downside, an initial support is near the $212 level.If there is a downside break below the $212 level, there is a risk of more losses below the $208 support area. The next major supports are seen near the key $200 handle.Technical IndicatorsHourly MACD The MACD for ETH/USD is slowly moving into the bullish zone.Hourly RSI The RSI for ETH/USD is rising and it is currently above the 50 level.Major Support Level – $212Major Resistance Level – $228

English简体中文日本語한국어DeutschEspañolPortuguêsFrançaisРусскийไทยNederlands