ETH Price Analysis

Recent price movements of ETH shows a possibility of further drops. For instance, just yesterday, the coin could not cross the block at $235 and instead plunged by 15%. Just below the $215 support, there was a slight break at the 100 hourly SMA.  There were further price plunges below the $200 mark. Further, ETH's price dropped to set the lowest monthly price at $196 and started experiencing losses.  The $205 barrier was formed on the price, and there will…

The ETH/USD price is sustaining some significant support over $185, and the price may continue to uptrend to over $190, and keep it up in the near term. This year, the price attained a fresh high of $195 before a downside retracement. This retracement resulted in below $192 and $190 support.  However, the support zone at $185 became a rugged bullish area together with the 100 hourly SMA. The price eventually formed a swing low close to $184, and currently,…

Recently, ETH/USD price declined hence breaking the support at $160. Additionally, there is a likelihood of the ethereum price to keep moving to the downside, under the supports at $158 and $155 in the short term. Ethereum failed to rise over the barrier at $170, and declined steadily, thereby breaking below the support at $165 and the 100 hourly SMA. A further decline led to a break of the $162 support below the support at $160. The price formed a…

Key Takeaways: Bitcoin showing strength consolidating after last week’s jump. Ethereum looks for support to move higher. Everyone’s eyes are on Bitcoin. After last week’s massive 42% jump, not only did Bitcoin reclaim 2% market dominance, totaling at 67.5%, it equally brought the total market capitalization of the cryptocurrencies market to $250 billion. Indeed, this has breathed bullishness into a stagnant, ranging market. The question remains, what Bitcoin’s next major step is: will it break out of the descending channel…