Ethereum price did downslide to a new yearly low below 0.0300BTC against Bitcion and $200 against US Dollar. The price seems to be gradually increasing but the pace is set to slow.
Ethereum price has to borderline, if not to exceed the 0.0350BTC mark, otherwise the trend will keep on continuing as ETH/BTC price hits rock bottom at and below 0.0280BTC and as for USD, the $200 to $220 mark are the limits below which the trend might come to a close at $160 marker.
On the other hand, the gradual rise in Ethereum price promises, if the price does continue to grow, a well enough resistance chart marked with the main 0.0320BTC, 0.0323BTC and the favoured 0.0350BTC resistances.
During the rise, there was a break above the 23.6% Fibonacci retracement level of the last key decline from the 0.0358BTC high to 0.0269BTc low. This left the price at a staggering 0.0290BTC resistance on the same chart.
The price is currently etched to the 0.0300BTC resistance, an earlier support context. Above this, the next context is near the 50% Fibonacci retracement at 0.0314BTC having 0.0358BTC as high and 0.0269BTC as low.
