The Ethereum broke through important resistance. Waiting for the increase to $ 230
Source:Happened — the price of Ethereum struck one of the most important local resistances. Asset managed to gain a foothold above $ 215, now this should serve as a good support for the medium-term uptrend. If all goes according to the bullish scenario, cryptocurrency will grow to $ 230 soon.
The Overall situation looks like this:
the-
the
- the value of the asset has managed to break above $ 215 and even to grow to $ 220; the
- price breakthrough happened after the breakthrough of level 208 USD; the
- has reached a local peak in the zone 223 of dollars. The subsequent pullback ended in the area of 216 dollars.
At the moment Ethereum is trading at $ 217. For the past day, the cryptocurrency rose 1 percent.
theTechnical analysis
Recently, the price of the asset is adjusted to the area of 205 dollars, which formed a good basis for short-term growth. The bulls managed to take full control of the situation, and Ethereum established the first record price this month. This is now the cryptocurrency is trading above the 100 SMA (on H1 chart), which is a very good sign.
Currently, the nearest «the fulcrum» for the asset could be the level of 0.236 Fibonacci. Next to him is the main line of the local uptrend, so this area will certainly be a very good turn for opening long positions. In the case of repeated falling price needs to stay on the line 208 of dollars, now resistance turned into support.
image Source — NewsBTC
The Situation at the technical indicators look promising. MACD is in bullish zone, and RSI is still not close to overbought. If you are going to open long (in the line of uptrend), do not forget to put stop loss just below the $ 214. The nearest target to fix the profit is $ 230.
What is the rate of the ETH to the end of the year you predict? Sharing the bold responses .
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