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Price Analysis

Ethereum Faces Restraints; Falls Below $210 After a 1% Cut

  • Ethereum loses 1% in one day and goes below 210 USD point.
  • The next support for ETH may come at 203 USD.

Ethereum (ETH) seems to have halted its growth movement and in the last 24 hours, it has been hit by a 1% decline in the value. The current price is roaming around 208 USD, well below its previous comfort of 210 USD. It has shown five major price shifts in this period.

Ethereum Price Analysis:

Ethereum opened the day at 215 USD and it soon fell by 3.71% to reach 207 USD by 04:24 UTC. It was followed by a hike of 2.79% over the next 3 hours and 38 minutes; it placed the value at 213 USD. However, ETH could not last long above 210 USD and in the next 12 hours from 08:02 UTC, it lost 7.11 USD to touch 206.13 USD.

The fourth swing of ETH happened between 20:02 UTC and 23:51 UTC; this swing added 5.78 USD and pushed the overall value to 211.91 USD by 23:51 UTC. Since then, the value is on a slope; it has fallen by 1.70% and is currently being traded around 208 USD. Current price and 20 days MA are below 50 days MA, and it shows an overall weakened position of ETH as of now.

Ethereum Price Chart
ETH Price Chart By TradingView

Ethereum has taken the hit and now it is on a down-trending price movement. As per our prediction, it is likely to seek the support of 203 USD next. Investors are advised to wait a little longer before reorganizing their investments as ETH may witness a rally before 2019 ends.

Resistance and Support Levels- 

Ethereum (ETH)
1st Resistance$215.88
2nd Resistance$220.21
3rd Resistance$224.33
1st Support Level$207.43
2nd Support Level$203.31
3rd Support Level$198.98

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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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