NFT Collection The Superlative Secret Society Price, Stats, and Review
Morgan Stanley to Broaden Availability of Spot Bitcoin ETFs: Report
Spot Crypto ETFs Set To Begin Trading in Hong Kong Next Week: Report
Bitcoin, Dogecoin Top Holder Profitability Ahead Of Cardano & Ethereum: Details
Bitcoin HODLing vs selling: A look at BTC trader behavior post-halving
Bitcoin Forms Death Cross & TD-9 Sell Signal: Brace For Impact?
Ready, Set, Grow: Why It Might Be Time To Invest In Altcoins Now – Santiment
FBI Warns Americans Against Using Non-KYC Crypto Money Transmitting Services
‘ETH Should Not Be Treated as a Security’ — Consensys Sues SEC Over Ethereum Regulations
Stripe reintroduces crypto payments via USDC stablecoin
New Bitcoin Whales Have Already Nearly Double the Size of Old Large BTC Owner Holdings: CryptoQuant
Shiba Inu Burn Rate Sees Massive 2,076% Spike In 24 Hours
Why Is The Dogecoin Price Down Today?
Bitcoin Dominance Has Peaked, According to Crypto Trader – Here’s What That Means for Altcoins
Consensys sues SEC over Ethereum crackdown
Consensys sues SEC for clarification on Ethereum (ETH) classification as a security
Consensys takes ‘Ethereum (ETH) is not a security’ matter to court
Blackrock’s Bitcoin ETF Wallets Hold Over $20,000 in Runes Tokens, Arkham Data Shows
Stripe Brings Back Crypto Payments Via USDC Stablecoin
Leading layer 2 projects integrate Avail’s data availability layer
Franklin Templeton tokenizes $380M fund on Polygon and Stellar for P2P transfers
Consensys Sues SEC Over ‘Unlawful Seizure Of Authority’ Over Ethereum
Crypto Influencer ‘Jay Mazini’ Receives Seven-Year Jail Sentence And $10M Asset Seizure
‘Privacy Is Not a Crime’ — Samourai Indictment Provokes Strong Reactions From Crypto Advocates
Ethereum Price Analysis: Will ETH Continue To Surge Above $215?
- Ethereum surged by a total of 9.5% today to bring the price of the coin up above $200.
- The bulls have now fully taken control of the market with this latest price explosion.
Ethereum passed the resistance at $198 and blasted past the $200 level with a 9.5% price increase. The cryptocurrency managed to climb as high as $220 today before dropping slightly into the $216 level.
Ethereum is now well on the way to recovering all of the losses seen in the March market collapse which was caused by the Coronavirus pandemic panic. It needs to continue higher to break above $250 to completely recover all the losses, however, with the recent break above $200 it is well on the way to doing so.
Ethereum Price Analysis
ETH/USD – Daily CHART – SHORT TERM
ETH/USD. Source: TradingViewMarket Overview
Taking a look at the daily chart above, we can clearly see that Ethereum was struggling at the $200 resistance level over the past 3-days. The coin made several attempts to break above but failed on each attempt.
In today’s trading session, we can see that ETH managed to surge well past the $200 level. It was largely a result of Bitcoin climbing much higher as it penetrated above the $8,000 level to reach as high as $8,800 before falling.
We can see that after breaking $200, ETH continued to rise higher until it met resistance at $218 which is provided by a bearish .786 Fibonacci Retracement level – measured from the March high to low.
Short term prediction: BULLISH
Ethereum is now most certainly bullish in the short term. For it to turn neutral, the coin would need to drop back beneath $200. It would need to fall further beneath $170 before being considered as bearish.
If the buyers continue higher from the $218 resistance, we can expect added resistance at $223 (1.414 Fib Extension), $235 (bearish .886 Fib Retracement), $240, and $250.
Toward the downside, support lies at $210, $200, $191, and $180.
Key Levels
Support: $210, $200, $190, $180, $170, $160, $155, $150, $145, $140, $135.
Resistance: $218, $223, $235, $240, $250, $260, $280.
