- Ethereum moved sideways over the past 24 hours as the bulls battle for the $225 level.
- The cryptocurrency has been falling all week as it drops by 5% after failing to break $250 last week.
- Against Bitcoin, Ethereum is attempting to reclaim the 0.025 BTC level.
Key Support & Resistance Levels
Support: $225, $215, $210.
Resistance: $245, $250, $265.
Support: 0.0243 BTC, 0.0239 BTC, 0.0236 BTC.
Resistance: 0.025 BTC, 0.0253 BTC, 0.026 BTC.
ETH/USD: Ethereum Bulls Battling To Defend $225
Ethereum has moved sideways over the last three days as the coin trades along with the $225 support level. Before this, ETH had dropped lower from $250 as it broke beneath a rising trend line and reached the support at $215 (.236 Fib Retracement), where it rebounded.
Despite this, the bulls are still battling to retain control of the market momentum. However, a drop beneath $200 could cause a shift in sentiment for ETH from bullish to bearish.
ETH-USD Short Term Price Prediction
Looking ahead, if the sellers push beneath $225, the first level of support lies at $215. Beneath this, added support is found at $210 (100-days EMA), $200 (200-days EMA), and $190 (.382 Fib Retracement).
On the other side, if the buyers push higher, the first level of strong resistance is located at $245 (bearish .786 Fib Retracement). Above this, resistance lies at $250 and $265 (bearish .886 Fib Retracement).
The RSI is beneath the 50 line as the sellers control the market momentum. However, the buyers are trying to get it back above 50 for another push higher. Additionally, the Stochastic RSI is primed for a bullish crossover signal.
ETH/BTC: ETH Sets Eyes For 0.025 BTC Again
Against Bitcoin, Ethereum has traded between 0.025 BTC and 0.0243 BTC for the past five days. The 0.0243 BTC level is provided by a .236 Fib Retracement and has supported ETH for the entire period of June.
For ETH to continue its bullish push higher, the coin must rise above the June 2020 resistance at 0.0253 BTC.
ETH-BTC Short Term Price Prediction
Looking ahead, if the buyers push ETH higher, the first level of resistance is expected at 0.025 BTC. Above this, added resistance lies at 0.0253 BTC, 0.026 BTC (bearish .786 Fib Retracement), and 0.0263 BTC.
On the other side, the first level of support is located at 0.0243 BTC (.236 Fib Retracement). Beneath this, support lies at 0.0236 BTC (.382 Fib Retracement & 100-days MEA), and 0.023 BTC (200-days EMA and .5 Fib Retracement).
The RSI is trading at the 50 line, which indicates indecision within the market. If the RSI climbs above 50, then ETH can be expected to break the 0.0253 BTC resistance.
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Cryptocurrency charts by TradingView.