Price Analysis

Ethereum Moves with a 7.75% Rise; May Find Resistance at $188

  • Ethereum grows by 7.75% in the last 24 hours.
  • The next resistance may come at 188 USD.

Ethereum has shown a rise of 7.75% in the last 24 hours and the value has comfortably gone beyond 180 USD in this period. The four price variations have given a range between 165 USD and 185 USD.

Ethereum Price Analysis

Yesterday, Ethereum opened at 170 USD and in the next 4 hours and 24 minutes, it fell by 2.73% at 165 USD.  It was followed by a hike of 5.55% and it took the value to 174 USD by 10:03 UTC. The next swing started at 10:44 UTC and over the next 5 hours and 17 minutes, it scaled to 181 USD. After the next few hours of slight volatility, another hike pushed ETH price to a new height of 185 USD.

Though Ethereum has not seen a huge fall like its other major peers, the volatility and price fluctuations of the past 7 days are quite noticeable. It should be noted that it touched the lowest point at 155 USD in this period.

Ethereum Price
Ethereum Chart By TradingView

Ethereum’s current trend is slightly below its 50 days and 20 days average. However, it is likely to remain in the recovery mode for the upcoming few days. The next resistance for ETH is expected to be around 188 USD.  The medium-term outlook seems bullish.

Ethereum (ETH)Resistance and Support Levels
1st Resistance$184.14
2nd Resistance$188.42
3rd Resistance$196.97
1st Support Level$171.31
2nd Support Level$162.76
3rd Support Level$158.48
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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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