{"id":428108,"date":"2020-06-22T08:28:37","date_gmt":"2020-06-22T08:28:37","guid":{"rendered":"https:\/\/wncen.com\/?p=428108"},"modified":"2024-06-11T13:04:05","modified_gmt":"2024-06-11T13:04:05","slug":"ethereum-eth-could-propel-to-250","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-could-propel-to-250\/","title":{"rendered":"Ethereum Smashes Heavy Resistance: Here\u2019s What Could Propel it to $250"},"content":{"rendered":"
Ethereum is up around 2% and it broke the $232 resistance against the US Dollar. ETH has likely moved into a positive zone and it could continue to rise towards $240 or even $250.<\/em><\/p>\n After forming a strong support base above $225<\/a>, Ethereum price started a fresh increase resistance against the US Dollar. ETH spiked above the $230 resistance from the $222 swing low to move into a positive zone.<\/p>\n The bulls gained strength above the $232 resistance and the price settled well above the 100 hourly simple moving average. More importantly, there was a break above a major bearish trend line with resistance near $230 on the hourly chart of ETH\/USD.<\/p>\n Ether tested the $235 resistance and it is currently consolidating gains. An initial support is near the $233.50 level or the 23.6% Fib retracement level of the recent surge from the $227 low to $235 high.<\/p>\n <\/a><\/p>\n The main support is now near the $232 level. It is close to the recent breakout zone and coincides with the 50% Fib retracement level of the recent surge from the $227 low to $235 high. On the upside, the $235 level is an immediate resistance level.<\/p>\n\n
Ethereum Price Turns Green<\/h2>\n
Ethereum price tests $235. Source: TradingView.com<\/a><\/pre>\n