CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$46,826.00
  • ethereum
    ETH$1,471.96
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » ETH » Ethereum Price Analysis: Could ETH Finally Breach The $200 Benchmark?

    Ethereum Price Analysis: Could ETH Finally Breach The $200 Benchmark?

    Author: Yaz Sheikh

    Last Updated Dec 17, 2019 @ 14:18

    Ethereum marked a small increase of around 1% over the past 24 hours and it currently trades at $190. This allows ETH to grind its way higher toward the $200 level, and perhaps even more. However, it still needs to break above resistance at the 100-days EMA. 

    Ethereum remains the second-largest cryptocurrency as it holds a market cap of $20.74 billion. 

    Looking at the ETH/USD 1-day chart:

    • Since our previous ETH/USD analysis, the cryptocurrency fell into the support at $180 where it proceeded to rebound higher. ETH is trading at resistance provided by the 100-days EMA at $190.
    • From above: The nearest level of resistance lies at the aforementioned $190 level. Above this, resistance is expected at $193.66 and $200, which is bolstered by the 200-days EMA. Above $200, resistance is at $202, $211.75, $220, and $225.
    • From below: The nearest level of support lies at $185. Beneath this, support is found at $180, $176, $171.97, and $170. If ETH drops beneath $170, support can be expected at $165, $60, $158.60, and $152.38.
    • The trading volume has remained relatively low during November.
    • The RSI has recently bounced higher from the 50 level to show that the bulls are in control over the market momentum. If it can continue to rise higher, we should see ETH headed toward $200. However, we should remain cautious as the Stocahstic RSI is poised for a bearish crossover signal in overbought territory.

    ethusd-nov6-min

    Looking at the ETH/BTC 1-day chart:

    • Against BTC, ETH fell towards the support at the 0.01966 BTC level. It rebounded there as it now challenges the resistance at 0.020429 BTC.
    • From above: The nearest level of resistance lies at 0.020429 BTC. Above this, resistance is at 0.021 BTC (100-days EMA), 0.0215 BTC, 0.022 BTC, and 0.02232 BTC (bearish .382 Fib Retracement). If the buying continues, higher resistance can be expected at 0.02295  BTC, 0.02326 BTC, 0.02369 BTC, and 0.02390 BTC (200-days EMA).
    • From below: The nearest level of support lies at 0.020 BTC. Beneath this, support is found at 0.01966 BTC and 0.019 BTC (short term .618 Fib Retracement). If the selling continues, support is expected at 0.0185 BTC, 0.01789 BTC, 0.01760 BTC, 0.01738 BTC, and 0.017 BTC.
    • The trading volume remains relatively low.
    • The RSI has recently poked itself above the 50 level as the bulls attempt to gain control over the market momentum. If the RSI continues higher above 50, we will see ETH heading further higher above 0.021 BTC.

    ethbtc-nov6-min

    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Enjoy reading? Please share:
    Facebook Twitter LinkedIn Telegram
    Read more on: Ethereum (ETH) Price

    About The Author

    Yaz Sheikh View more posts by this author

    Yaz is a cryptocurrency technical analyst with over seven years of technical analysis trading experience. As an Economics graduate, he has taken a keen interest in the future potentials of blockchain in the financial industry. Removing crypto from the equation, Yaz loves to watch his favorite football team and keep up-to-date with the latest fights within the UFC.

  • bitcoin
    BTC$46,826.00
  • ethereum
    ETH$1,471.96
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    pionexb
    2local
    Bitcoin Editorials
    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!