Sunday, 28 July 2019

Ethereum Price Prediction: Eyes on $190 level

ethereum analysis

In our last analysis ,we expected a retest of the uptrend line and that's what happened. However, the rebounded from the trend line wasn't strong enough to scale above the major resistances. This shows that the bears seize any opportunity to sell on higher levels. 

Ethereum has corrected close to 61.8% of the entire rally from the low of $80 to $363. This level acted as strong support before, it's around $190. If Ethereum plummets and closes below $190, it can fall to $140 level.

ethereum chart

On the upside, Ethereum needs to scale above the 20-day EMA  to resume the uptrend. As long as Ethereum is trading below the moving averages, traders should patiently wait before opening any fresh positions.

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