{"id":396060,"date":"2019-09-16T04:08:13","date_gmt":"2019-09-16T04:08:13","guid":{"rendered":"https:\/\/wncen.com\/?p=396060"},"modified":"2024-06-11T13:08:58","modified_gmt":"2024-06-11T13:08:58","slug":"ethereum-price-eth-surging-while-bitcoin-trading-sideways","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-eth-surging-while-bitcoin-trading-sideways\/","title":{"rendered":"Ethereum Price (ETH) Surging While Bitcoin Trading Sideways"},"content":{"rendered":"
Ethereum price is climbing above $190 versus the US Dollar and recovering vs bitcoin<\/a>. ETH price is showing positive signs and it might continue to rise towards $200-$205.<\/em><\/p>\n In the past analysis, we discussed the chances of an upside break<\/a> in ETH price above the $185 resistance against the US Dollar. The price did gain traction and broke the main $185 and $186 resistance levels. Moreover, there was a close above $185 and the 100 hourly simple moving average. It opened the doors for more gains above the $190 level. On the other hand, bitcoin price remained in a range above the $10,300 level.<\/p>\n Ethereum price even broke the $192 level and traded to a new weekly high at $195. The current price action indicates more gains above the $195 level. If there is a downside correction, an initial support is near the $193 level. It coincides with the 23.6% Fib retracement level of the recent upward move from the $187 swing low to $195 high.<\/p>\n However, the main support on the downside is near the $190 level. It represents the 50% Fib retracement level of the recent upward move from the $187 swing low to $195 high. Additionally, there is a connecting bullish trend line forming with support near $188 on the hourly chart of ETH\/USD. Therefore, if there is a downside correction, the price is likely to find buyers near $190 or $188.<\/p>\n On the upside, a convincing break above the $195 level could open the doors for a push towards the $200 resistance level. However, the main resistance is near the $205 level (the previous support), above which the price could surge towards $220.<\/p>\nEthereum Price Analysis<\/h2>\n