Ethereum (ETH) Price In Corrective Decrease: Buying Dips Favored

  • ETH price climbed to a new 2019 high above $200 before correcting lower against the US Dollar.
  • The price declined below the $195 and $190 support levels before the bulls appeared near $182.
  • There is a new connecting bullish trend line forming with support near $186 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair remains supported on dips and it seems like it could bounce back above $194.

Ethereum price started a downside correction versus the US Dollar, similar to bitcoin. ETH price remains well supported on the downside near $185 and $180.

Ethereum Price Analysis

In the past three days, there was a steady rise in Ethereum price above $180 resistance against the US Dollar. The ETH/USD pair followed bitcoin and broke a few important resistances near $190 and $195. There was even a break above the $200 barrier. The price traded close to the $208 level and settled well above the 100 hourly simple moving average. Recently, it started a downside correction and declined…

Read Full Story : NewsBTC

2019-05-13 03:18:10

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