Ethereum price analysis reveals that the queen of cryptocurrency Ethereum (ETH) is now not only stabilizing but also headed toward the one hundred and ninety-five dollars ($195) mark.
More than for any other cryptocurrency, this statement fists the criteria for Ethereum price on all possible levels.
With the Bitcoin running in the four-digit territory, below ten thousand dollars ($10,000), Ethereum tagged along and the price got a cut, stationing it below the one hundred and eighty dollars ($180) support mark. Below that, the price kept declining to one hundred and seventy-five dollars ($175).
The balance tipped on the scale and ETH price went down a little more, crossing the one hundred (100) simple moving average (SMA) on the four-hour chart.
The bears went all in and the price declined even further. A break below the one hundred and seventy dollars ($170) support mark led to Ethereum being traded around one hundred and sixty-three dollars. Flipside movement started recently, that kept Ethereum rising.
Ethereum price rose above one hundred and seventy dollars ($170) once again and the twenty-three percent (23.6%) Fibonacci retracement level of one hundred and ninety-five dollars (low) to one hundred and sixty-three dollars ($163) high did not put a halt to its progress.
When will Ethereum price hit $195?
ETH price has many trials before reaching the one hundred and ninety-five dollars ($195) mark.
Potential resistances include one hundred and seventy-eight ($178) and one hundred and eighty dollars above that ($180), which also has a major bearish trend line forming near it.
We also have the fifty percent (50%) Fibonacci retracement level between $195 low to $163 high, above one hundred and eighty dollars ($180) playing as a strong resistance mark.
The sixty-one percent (61.8%) Fibonacci retracement level from %195 on the topside to $163 on the lower end, is stationed at one hundred and eighty-two dollars ($182) to act as a resistance as well. Moving up at one hundred and eighty-four dollars ($184), the one hundred (100) moving SMA will try to stop the coin.
Looking below, we have one hundred and sixty-five dollars ($165).
A break from this level will move the cryptocurrency to the one hundred and sixty dollars ($160) support mark. Maybe the altcoin will not have to go this low because the moving average convergence/divergence (MACD) and the relative strength index (RSI) seem to be crossing over to the green zone.