Price Analysis

Ethereum (ETH) Seems Ready to Take Off to $200

  • Ethereum price has been up by almost 3% over the last 24 hours, and it is currently hovering around $188
  • The target of $200 doesn’t seem to be distant now
  • The current price of ETH coin has crossed both its 20 days MA & 50 days MA

Ethereum has been following the bullish trend and did the same over the last day as well. It has made a gain of almost 3% and went as high as $191 for a moment. Though the degree of gain doesn’t match Bitcoin’s push, it is likely to catch the market leader’s trend soon.

Ethereum Price Analysis

The last week’s price trend of ETH/USD has given nightmares to traders. It exhibited immense volatility. However, amidst that, the coin managed to keep its price near $190 for some days. These price fluctuations may not emerge over the next week. We can expect Ethereum to prepare itself steadily for a ride towards $200.

Ethereum News
ETH/USD Chart By TradingView

In the early hours of April 23, ETH coin got a 1.96% hike that moved its price from $182.60 to $186.18. After this moderate hike, the coin marked a 4.07% correction that cost $7.57 by 07:00 UTC. Later, the bulls took control over Ethereum, and it registered a 7.03% hike & reached as high as $191.17 by 14:20 UTC. After this immense growth, ETH price started trading downwards again. By 23:40 UTC, it was hovering around $184 again.

Further, the coin started trading upwards, and at the time of writing this analysis, the price spotted at $188 with having support from its SMA 20 & 50 at $187.32 & $187.15, respectively.

On the upside, once the price of Ethereum crosses its nearest resistance at $193, it will manage to trade above $200 price mark in the upcoming days. However, on the downside, a support point at $180 will be there to minimize the risk of a crash. The RSI of ETH now figures near 60 points, having an inclination towards the bullish move.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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