{"id":423020,"date":"2020-05-07T04:38:39","date_gmt":"2020-05-07T04:38:39","guid":{"rendered":"https:\/\/wncen.com\/?p=423020"},"modified":"2024-06-11T13:48:22","modified_gmt":"2024-06-11T13:48:22","slug":"can-ethereum-eth-surge-past-220","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/can-ethereum-eth-surge-past-220\/","title":{"rendered":"Do or Die For Bulls: Can Ethereum Surge Past $210 &amp; $220?"},"content":{"rendered":"<p><em>Ethereum is struggling to gain bullish momentum above the $210 and $220 resistance levels against the US Dollar. ETH price remains at a risk of drop below $200 if it continues to struggle near $210.<\/em><\/p>\n<ul>\n<li>Ethereum is facing an uphill task near the $210 and $211 resistance levels.<\/li>\n<li>A crucial support is forming near the $197-$198 zone.<\/li>\n<li>There is a major bearish trend line forming with resistance near $210 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The bulls must gain strength above $210 for a sustained move towards $220 and $230.<\/li>\n<\/ul>\n<h2>Ethereum Price Trading Near Key Hurdle<\/h2>\n<p>Recently, Ethereum made another attempt to surpass the <a href=\"https:\/\/wncen.com\/2020\/05\/06\/ethereum-eth-to-rally-220-or-higher\/\" target=\"_blank\" rel=\"noopener \">$210 resistance<\/a> against the US Dollar, but it failed. ETH price formed a short term top near $211 and declined sharply.<\/p>\n<p>There was a break below the $202 support zone, but the $197-$198 region acted as a strong buy zone. Ether price traded as low as $197 and it is currently rising. There was a break above the $202 and $205 levels.<\/p>\n<p>The price surpassed the 50% Fib retracement level of the recent decline from the $211 high to $207 low. However, Ethereum is currently struggling to clear $208 and the 100 hourly simple moving average.<\/p>\n<p>There is also a major bearish trend line forming with resistance near $210 on the hourly <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">chart<\/a> of ETH\/USD. An intermediate resistance is near the 76.4% Fib retracement level of the recent decline from the $211 high to $207 low.<\/p>\n<figure id=\"attachment_423021\" aria-describedby=\"caption-attachment-423021\" style=\"width: 1828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/05\/Ethereum-5.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-423021\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/05\/Ethereum-5.png?resize=1828%2C868\" alt=\"Ethereum Price\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/05\/Ethereum-5.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/05\/Ethereum-5.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/05\/Ethereum-5.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/05\/Ethereum-5.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/05\/Ethereum-5.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/05\/Ethereum-5.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/05\/Ethereum-5.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-423021\" class=\"wp-caption-text\">Ethereum Price<\/figcaption><\/figure>\n<p>To move into a positive zone and start a strong upward move, the price must break the $210 and $211 resistance levels. If the bulls gain bullish momentum above $211, the price is likely to grind higher towards the $220 level. The next major resistance is seen near the $230 level.<\/p>\n<h2>Another Failure?<\/h2>\n<p>If Ethereum fails again to break the $210 and $211 resistance levels, there could be another bearish reaction. An initial support on the downside is near the $202 level.<\/p>\n<p>The <a href=\"https:\/\/wncen.com\/2020\/05\/05\/ethereum-eth-price-holds-strong-above-200\/\" target=\"_blank\" rel=\"noopener \">main support is now forming near the $197 and $198 levels<\/a>. If the price fails to stay above $200 and settles below $197, there is a risk of a significant decline towards the $182 and $180 support levels.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is about to move into the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is currently just below the 50 level.<\/p>\n<p>Major Support Level \u2013 $200<\/p>\n<p>Major Resistance Level \u2013 $211<\/p>\n<p><a href=\"https:\/\/www.plus500.com\/?id=121277&amp;pl=2\" target=\"_blank\" rel=\"noopener nofollow\">Take advantage of the trading opportunities with Plus500<\/a><\/p>\n<p>Risk disclaimer: 76.4% of retail CFD accounts lose money.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is struggling to gain bullish momentum above the $210 and $220 resistance levels against the US Dollar. ETH price remains at a risk of drop below $200 if it continues to struggle near $210. Ethereum is facing an uphill task near the $210 and $211 resistance levels. A crucial support is forming near the $197-$198 zone. There is a major bearish trend line forming with resistance near $210 on the hourly chart of ETH\/USD (data feed via Kraken). The bulls must gain strength above $210 for a sustained move towards $220 and $230. Ethereum Price Trading Near Key Hurdle Recently, Ethereum made another attempt to surpass the $210 resistance against the US Dollar, but it failed. ETH price formed a short term top near $211 and declined sharply. There was a break below the $202 support zone, but the $197-$198 region acted as a strong buy zone. Ether price traded as low as $197 and it is currently rising. There was a break above the $202 and $205 levels. The price surpassed the 50% Fib retracement level of the recent decline from the $211 high to $207 low. However, Ethereum is currently struggling to clear $208 and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $210 on the hourly chart of ETH\/USD. An intermediate resistance is near the 76.4% Fib retracement level of the recent decline from the $211 high to $207 low. To move into a positive zone and start a strong upward move, the price must break the $210 and $211 resistance levels. If the bulls gain bullish momentum above $211, the price is likely to grind higher towards the $220 level. The next major resistance is seen near the $230 level. Another Failure? If Ethereum fails again to break the $210 and $211 resistance levels, there could be another bearish reaction. An initial support on the downside is near the $202 level. The main support is now forming near the $197 and $198 levels. If the price fails to stay above $200 and settles below $197, there is a risk of a significant decline towards the $182 and $180 support levels. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is about to move into the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is currently just below the 50 level. Major Support Level \u2013 $200 Major Resistance Level \u2013 $211 Take advantage of the trading opportunities with Plus500 Risk disclaimer: 76.4% of retail CFD accounts lose money.<\/p>\n","protected":false},"author":67,"featured_media":423022,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,13625,4],"tags":[1946,8686],"class_list":["post-423020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","category-analysis","tag-ethereum","tag-ethusd"],"acf":[],"yoast_head":"\n<title>Do or Die For Bulls: Can Ethereum Surge Past $210 &amp; $220?<\/title>\n<meta name=\"description\" content=\"Ethereum is struggling to gain bullish momentum above the $210 and $220 resistance levels. 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