Price Analysis

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.

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 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.

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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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