Price Analysis

Ethereum Unable to Stand the Heat, Falls to $203

  • Ethereum falls to 203 USD after an almost 3.5% dip in the value.
  • The next support may come at 198 USD.

Ethereum’s growth pattern has again taken a paradigm shift in the last 24 hours and it has traveled all the way from 217 USD to 203 USD. There have been five major price swings in this period. It may further show signs of weakening trend.

ETH to USD Price Analysis:

Ethereum‘s first swing happened between 00:01 and 07:46 UTC and this swing took it to 217 USD from 208 USD which formed to be the top point of ETH for the day. Later it took a fall of 3.30% and after losing 3.30% it got placed at 210.05 USD. The third variation started at 11:45 UTC and over the next 2 hours and 44 minutes, it got a hike of 2.34% and touched 214.96 USD price point. However, it could not sustain the value at 214 USD and took a downward movement of 3.65% to reach 207.10 USD by 00:34 UTC. The last swing for ETH happened between 00:53 and 04:29 UTC and this swing cost it a whopping 5.90 USD and made it roam around 203 USD.

Ethereum Price
Ethereum Chart By TradingView

Ethereum Price Prediction:

Ethereum is one of the top coins of the current times and it has made an exception by showing enormous growth in the last few days. However, as it has started price correction, it is likely to fall again below 200 USD. The next support for Ethereum may come at 198 USD.

Resistance and Support Levels:  

R1- $216.05, R2- $220.71, R3- $ 224.71

S1- $207.39, S2- $203.39, S3- $198.73

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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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