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- The cryptomarket is witnessing significant and surprising bullish momentum build by Ether bulls.
- The second-largest crypto asset in the world can break the crucial mark of $210 again indicating a further bullish move to the mark of $220.
- The technical oscillators suggest that there is more positive momentum yet to come.
Ethereum (ETH) started at a price level of $208.00 in today’s market. The general assumption was that it will be facing price consolidation. This was due to the significant resistance provided by the Ether price level of $210 and went to the price level of $206 in the marker. However, the significant bullish move of 1.12% helped the crypto asset to beat the resistance mark and also crossed the price level of $207.
The current price is $207.00 with the market cap of $22,993,130,493 and volume traded of $11,060,647,553, The ETH/BTC pair is also performing positive with the overall gain of 0.80% bringing the level to 0.2253903. It looks like the support of the level of 0.025 has done the work for ether. Currently, ether is targeting to break another crucial and safe spot of $210. If done, it can declare that ether is on the road to recovery for a $220 mark.
Ethereum (ETH) Price Analysis
Ethereum ETH Price Analysis: Preceding the breaking of $200 mark, the chart reflects the bullish momentum ether had from the starting of the month. The major mark of $210 has been now considered a major resistance level of ether after it made several failed attempts to cross that. when Ether was moving between the price band of $210 to $220 for a week on previous occasions another critical resistance of $218 came to light.
The Ethereum ETH Price Analysis technical oscillators suggest that there is more positive momentum yet to come. The major support level of $200 and the psychological support level of $198 may come into play. The RSI has sustained a normal zone and is showing a tendency to move up. The CCI was already in the oversold zone for a while in today’s market but moved up to the normal territory with a sharp positive divergence. MACD levels also indicate that there is strong ongoing buying volume for ether will be there for the upcoming days if there is a potential bullish cross.
Resistance Level: $210
Support level: $200 and $190
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
