Ethereum (ETH) Price Analysis: Reaching $200 Soon?

Ethereum (ETH) price analysis shows that there is a promising increase of more than 4% which allowed the cryptocurrency to reach $183 as per the altcoin news and analysis which we have today.

Over the past four days, the ETH altcoin surged by 10 percent and managed to reach the 0.176 BTC price. If it Ethereum (ETH) manages to continue the increase against Bitcoin, we could see ETH slowly closing down higher above $200. Ethereum still remains the second-largest cryptocurrency with a market cap of more than $19.58 billion. As per the Ethereum (ETH) price analysis, we can see that the altcoin started to climb back slowly above the $170 level and it also reached the resistance at $185 but is stalling ever since.

Looking from above, the nearest level of resistance is standing directly at $185 and above this, there could be a higher resistance found at the previous support trend line and then it got close to $194. If the buyers manage to push the price even further, the resistance can be expected at $200 and $210. The resistance between $210 and $213 is bolstered by both the 100-days EMA and the 200-Days EMA. Looking from below, the nearest level of support is standing close to $171 and beneath this, the support can be found at $165, $158, $148. The trading volume is also steady with some signs that it may increase in the near future. The RSI indicator also penetrated above the 50 levels and stayed below for the biggest part of the month. If the indicator continues to climb higher, we could see ETH making its way above $200.

Looking at the ETH/BTC one day charts we can see that Ethereum showed a very strong sign against Bitcoin after it moved away from the support at 0.0165 BTC. ETH increased by 10 percent since then and has also recently met the resistance at 0.0176 BTC. The nearest level of resistance is now standing at 0.1790 BTC and 0.018 BTC. Above this level, the resistance is found at 0.01918 BTC so if the buyers continue to drive the price higher, the resistance can be expected at 0.021 BTC and 0.02230 BTC and 0.0025 BTC. The nearest level of support is now currently at 0.01720 BTC and beneath this, the support will be found at 0.017 BTC. The trading volume is still low but there is some resurgence over the past few days as we can see in the latest cryptocurrency news analysis.