{"id":429284,"date":"2020-07-02T06:58:37","date_gmt":"2020-07-02T06:58:37","guid":{"rendered":"https:\/\/wncen.com\/?p=429284"},"modified":"2024-06-12T09:18:01","modified_gmt":"2024-06-12T09:18:01","slug":"ethereum-holds-strong-at-225-upside","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-holds-strong-at-225-upside\/","title":{"rendered":"Ethereum Holds Strong at $225: A Strengthening Case for Upside"},"content":{"rendered":"
Ethereum is holding strong above the $225 support level against the US Dollar. ETH is slowly rising and it is likely to continue higher towards $235 and $240.<\/em><\/p>\n In the past three days, Ethereum price followed a bullish path<\/a> above the $220 pivot level against the US Dollar. ETH price gained pace above the $225 resistance level and the 100 hourly simple moving average.<\/p>\n The recent upward move was positive, and ether traded above the $228 and $230 resistance levels<\/a>. It traded to a new weekly high at $233 and it is currently correcting lower. It tested the 23.6% Fib retracement level of the recent upward move from the $225 swing low to $233 high.<\/p>\n The previous resistance at $230 might act as a support, but the first major support is near the $228 level. More importantly, this week\u2019s followed a crucial ascending channel is active with support near $228 on the hourly chart of ETH\/USD.<\/p>\n <\/a><\/p>\n The channel support is close to the 50% Fib retracement level of the recent upward move from the $225 swing low to $233 high. It seems like ether price might a strong buying interest near the channel support, $226, and the 100 hourly SMA.<\/p>\n On the upside, the $232 level is an initial resistance. The next key resistance is near the $235 level, above which the price might rally towards the $240 and $245 levels.<\/p>\n If Ethereum corrects lower, the channel support and the 100 hourly SMA could provide a strong support. Any further losses may perhaps lead the price towards the $222 support zone.<\/p>\n A successful close below the $222 support will most likely decrease the chances of a sustained upward move towards the $250 level in the coming sessions.<\/p>\n Technical Indicators<\/p>\n\n
Ethereum Price is Showing Positive Signs<\/h2>\n
Chart from Tradingview.com<\/a><\/pre>\n
Dips Supported in ETH<\/h2>\n