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).
Ethereum ETH price chart created with Trading View
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.
For this pair from above the closest resistance lies at 0.0276 BTC and 0.028 BTC. More than that is near 0.029 BTC and 0.030 BTC.
From below the closest support is 0.02676 BTC. Any further below than that is 0.02586 BTC level.
