Recently, the crypto space has been returned to bullish position, BTC and ETH are hosts of digital assets, that managed to surge during the period, and while there are no specific component factors responsible for this reason within the price of Ethereum and others, it is commonly believed which some a bit of news, particularly in reports that fidelity will launch its institutional platform which can be assigned to the recent surge. Reports that the ETH will start its Proof of Stake integration, and may also be a reason on why the price of ETH was boosted.
Corresponding to one notable commentator, the key development that affected the price of ETH is the network’s transition to PoS(serenity). It should be brought to mind that the solution was predicted not to occur as soon as expected. Now the price of ETH has finally earned bullish momentum against the USD, Appears the ETH price is focusing on a large upward transition above $200 which is a resistance level to $220, the digital asset recently broke $190.
Price ETH Prediction: Surged Past $190 in ETH Weekly Analysis
The price of ETH struggled to clear $172 on many occasions, nevertheless the recent perspective surge in BTC price triggered an upward break, ETH/ USD broke $172 and $178 to move into a positive region. The upside move was powerful because price surged above $190 and it was settled above the 100 SMA, and bulls pushed prices above $200 before a new monthly high formed at $206.
Ethereum Prediction: Price of Ethereum in a Short-Lived Downside Correction between $200 and $190
Later on, a sharp downside correction was approved below $200 and $190. The price of ETH market below the 50% Fibonacci retracement position via the last wave from $169 to $206.And increase below $188 level but $184 acted as a support area, and tagged 61.8% Fibonacci retracement level via the last wave from $169 to $206 and returned back recently. Checking the downside, there are support positions at $185,$180 and $178.where has a major bullish pattern with support at $178 via 4-hour chart of the pair.
Ethereum Prediction: The Price of Ethereum Now Trading Above $190, Approaching $200 Recovering
ETH and USD pair in a phase of recovery at this time, ETH which is now trading above $188 and $190 presently sitting at $200, a daily close above $200 and might launch a biggest upward price action. The next key resistance positions for the bulls are $210 and $220.
Ethereum Price Prediction: The Price of Ethereum is at $196.8 As of Press Time.
However, the weekly chat were highlighted the price of ETH which indicates the ETH that has powerful support above $185 and $180. We may see a few swing moves, though the ETH price likely climbs above the $200 in the near term. The primary target of it for the bulls is between $220 and $225. At this time this content has published, the price of ETH and was at $196.8. The digital asset had a traders cap of $20,869,665,786.