{"id":396833,"date":"2019-09-23T03:08:18","date_gmt":"2019-09-23T03:08:18","guid":{"rendered":"https:\/\/wncen.com\/?p=396833"},"modified":"2024-06-11T13:25:41","modified_gmt":"2024-06-11T13:25:41","slug":"ethereum-eth-price-could-retest-200-before-fresh-increase","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-price-could-retest-200-before-fresh-increase\/","title":{"rendered":"Ethereum (ETH) Price Could Retest $200 Before Fresh Increase"},"content":{"rendered":"
Ethereum price is currently declining below $212 versus the US Dollar, similar to bitcoin<\/a>. ETH price is likely to retest the $200 support area before the bulls might take a stand.<\/em><\/p>\n After testing the $225 level, ETH price started a downside correction<\/a> against the US Dollar. The price broke the $215 and $212 support levels to move into a short term bearish zone. Moreover, there was a close below the $212 level and the 100 hourly simple moving average. The recent decline gained pace below the $210 level and the price traded as low as $206.<\/p>\n At the moment, Ethereum price is correcting higher above the $210 level. It broke the 23.6% Fib retracement level of the recent decline from the $218 high to $206 low. However, the bears are protecting the $212 resistance area and the 100 hourly SMA. Moreover, the 50% Fib retracement level of the recent decline from the $218 high to $206 low is sitting tight near the $212 level.<\/p>\n There is also a key bearish trend line forming with resistance near $214 on the hourly chart of ETH\/USD. The trend line is close to the 61.8% Fib retracement level of the recent decline from the $218 high to $206 low. Therefore, the price is likely to face a lot of hurdles near the $212 and $215 levels. To start a solid upward move, the price must climb above the $215 level and settle above the 100 hourly SMA.<\/p>\n On the downside, an immediate support is near the $206 low. However, the main support is near the $202 and $200 levels. It seems like the price could extend its decline towards the $200 support area before it might start a decent upward move.<\/p>\nEthereum Price Analysis<\/h2>\n