{"id":391722,"date":"2019-07-31T03:08:58","date_gmt":"2019-07-31T03:08:58","guid":{"rendered":"https:\/\/wncen.com\/?p=391722"},"modified":"2024-06-11T13:46:07","modified_gmt":"2024-06-11T13:46:07","slug":"ethereum-price-eth-signaling-fresh-increase","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-eth-signaling-fresh-increase\/","title":{"rendered":"Ethereum Price (ETH) Signaling Fresh Increase Above $215 & $220"},"content":{"rendered":"
Ethereum price is showing positive signs above $205 versus the US Dollar, and bitcoin<\/a> recovered above $9,700. ETH price could accelerate higher once it breaks the $215 resistance.<\/em><\/p>\n After forming a decent support above $205, Ethereum price recovered a few points against the US Dollar. The ETH\/USD pair formed a swing low near $204 and jumped above the $208 and $210 resistance levels. Later, there was a close above the $210 resistance level and the 100 hourly simple moving average. Similarly, there were positive moves in bitcoin price<\/a> above the $9,500 and $9,600 levels.<\/p>\n During the rise, there was a break above a major bearish trend line with resistance near $208 on the hourly chart of ETH\/USD. The pair tested the $215 resistance and recently corrected lower. It broke the $212 level plus the 23.6% Fib retracement level of the recent upward move from the $204 low to $215 high. However, the bulls were able to protect the $208 support area.<\/p>\n Moreover, the 50% Fib retracement level of the recent upward move from the $204 low to $215 high also acted as a support. More importantly, there is a connecting bullish trend line forming with support near $210 on the same chart. At the moment, the price is trading with a positive bias above the $210 level. On the upside, the main resistance is near the $215 level, above which it could start a solid increase.<\/p>\n The next important resistance is near the $220 level, above which the price could revisit the $225 resistance. On the downside, if there is a break below the trend line, the $208 level might act as a support. If there are more losses, the price could retest the $202 support level.<\/p>\nEthereum Price Analysis<\/h2>\n