Price Analysis

Ethereum Price Analysis: ETH Making Efforts to Stay Above $215

  • Etherereum currently correcting down from $222.04
  • ETH starts to rebound, currently trying to trade above $215
  • The coin traces a bullish trend line while having support near $207

Ethereum price is finally showing a positive movement as the coin has found support below $200 and has rebounded from there. At present, the coin is in the hassle to move above $215 price range. 

In the last one week, the coin has witnessed major price loss as ETH was above $300 and in the last couple of days, ETH has hit the bottom even below $200 and $195. However, now when BTC price has started its price recovery and has reached above $9800, further bullish price move in Ethereum also is expected.

ETH Current Statistics: 

Ethereum was trading at $215.53 at 09:52:13 UTC. The coin holds $22,962,689,354 of market capitalization while having circulating supply of 106,947,208 ETH. ETH currently fetches 7,482.60% of RoI.

Ethereum Price Chart:

Ethereum Price Chart
Ethereum Price Chart

Yesterday the coin opened with its price at $199.07 and it further tumbled to $196.20. After an extended fall below $195, the coin had support near $193.17 and it surged to $220.15 and corrected down. The coin has formed strong support near $207.25 and again climbed above $215. In the last 24 hours, ETH has increased to 8.26%.

The current price of ETH is 23.76% lower than its 30-day SMA of $282.71, indicating that the coin has a long way to go to tap on a bullish trend. The coin is still under selling pressure.

Technical Indicators:

The MACD chart is moving into a bearish zone as the MACd line is below the signal line. RSI for the coin is at 50 showing stability. Ethereum’s immediate resistance can be at $221.64 and $231.81, and support levels at $197.65 and $183.83.

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Ruti Vora

Ruti has recently joined CryptonewsZ as a writer and has been writing on other cryptocurrency sites as well. Having a background of tech field makes her versatile with a keen interest in literature. You will find her surrounded by books and music when she is not on work. You can also contact her on Linkedin or Facebook.
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