Ethereum Price Analysis: ETH/USD Skyrockets Above $210

Key HighlightsETH value surged greater and broke the $200 resistance towards the US Dollar.There is a short-term ascending channel in place with assist at $216 on the hourly chart of ETH/USD (information feed by way of Kraken).The pair is following a strong bullish bias and it may proceed to maneuver greater in the direction of the $235-240 ranges.Ethereum value gained bullish momentum towards the US Dollar and bitcoin. ETH/USD rallied above the $210 resistance and it appears set for extra good points.Ethereum Price RallyFinally, there was a sharp upward move famous from the $170 assist base in ETH value towards the US Dollar. The ETH/USD pair began a strong bullish wave and broke many resistances resembling $185, $195, $200 and $210. It even settled above the $200 deal with and the 100 hourly easy transferring common. During the rise, there was a break above a key connecting bearish pattern line at $#185 on the hourly chart of ETH/USD.The pair even broke the $220 degree and traded as excessive as $224.09 lately. At the second, it looks like the pair is following a short-term ascending channel with assist at $216 on the identical chart. On the draw back, the channel assist is above the 23.6% Fib retracement degree of the current wave from the $167 low to $224 excessive. Below this, the pair could maybe appropriate in the direction of the $200 deal with. Finally, crucial assist is close to $195 and the 100 hourly SMA. Additionally, the 50% Fib retracement degree of the current wave from the $167 low to $224 excessive can also be close to $195.Ethereum Price Analysis ETH USDLooking on the chart, ETH value is clearly again with a bang and dips from the present ranges in the direction of $200 stays supported. On the upside, the subsequent necessary resistances for consumers are $235 and $240. Above this final, the worth may take a look at the $250 degree.Hourly MACD – The MACD is transferring within the bullish zone.Hourly RSI – The RSI is at the moment within the overbought zone above the 70 degree.Major Support Level – $210Major Resistance Level – $235Original article first appeared in

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