The Ethereum and US dollars pair (ETH/USD) has breached the strong resistance levels of one hundred and eighty-five dollars ($185). After managing that it was expected to hit at least two hundred dollars ($200).
Crypto space has been going through some good times and is currently experiencing a stable increase in momentum. This has caused almost all the currencies to be going through a bullish rally, Bitcoin is at the top of its game and so was ethereum.
For Ethereum it was nearly hitting the two hundred dollars ($200) mark but then had a setback and kept on trading under it, hovering somewhere near one hundred and eighty-five dollars ($185).
The latter was then deemed as the strong support level. This is why ethereum is currently trading around one hundred and eighty-five dollars ($185).
Despite this Ethereum has scored a second position of the charts by market capitalization. Its current market capitalization is nineteen billion dollars ($19.55 billion)
From above the closest resistance levels are near the range of one hundred and ninety-four dollars and two hundred dollars ($194.60 and $200).
If this range is broken through then the new range will be near two hundred eight, twelve and twenty-one dollars ($208, $212 and $221).
From below, however, the closest strong support levels lie near one hundred and eighty-five dollars ($185) as we had established before.
If this support level is broken through then the next levels lie near one hundred and eighty, one hundred and seventy, one hundred and sixty-five along with one hundred and sixty dollars ($180, $170, $165 and $160).
The trading volume experienced an increase over the course of the past two days. Analyzing the ETH/BTC charts we notice that the pair stagnated near the previous support at 0.02815 BTC and continued into highlighted support at 0.0267 BTC.