Ethereum Price Analysis: ETH Sees Support Near $193, Rebounds Slowly

  • ETH struggles with the resistance above $200
  • Ethereum is currently correcting up from the price dip below $200
  • ETH continues with bearishness despite moderate volatility

Ethereum has continued to trade bearishly against U.S Dollar as BTC price has come down to $9000 with a massive price fall. As this has impacted a larger part of the crypto market, leading crypto coins are witnessing price slumps causing them to fall below their key support prices.

According to Ethereum Price Forecast, recently, ETH has traded even below $200 and is correcting up at present, though the coin is unstable over there and may see a further decline.

Ethereum Price Analysis: ETH Sees Support Near $193, Rebounds Slowly

Ethereum Current Statistics:

Ethereum is currently trading at $203, at 09:48:05 UTC. The leading crypto coin holds $21,610,809,194 in its Market Capitalization while having 106,932,322 ETH as its Circulating Supply. Ethereum fetches 7,037.19% of RoI at present.

ETH/USD Price Chart:

Ethereum Price Chart
Ethereum Price Chart

The coin which was above $220 yesterday morning, saw a sharp decline to $193.85 with a decrease of 12.90%. ETH then rebounded above $200 but couldn’t settle its price position there due to instability. In the last 24 hours, ETH has decreased to 11.92%, and its current price is even below its 100 days SMA of $232.83.

Technical Indicators: 

MACD chart for ETH is moderately volatile and it just had a bearish crossover. RSI for the coin is near 50 showing stability. The coin is likely to see resistance at 223.34 and $247.49 and support levels at $186.21 and $173.23.

Ruti Vora

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

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