$ 1,196.88 0.87%
$ 40.49 0.97%
$ 0.066477 0.63%
$ 4.39 2.38%
$ 21,139.00 0.64%
$ 234.38 1.93%

Ethereum price analysis: ETH price unable to sustain $200

ethereum price analysis 20 august

Ethereum price analysis is issuing Ethereum (ETH) sell signals which leave little to the imagination until now. Ethereum price had hit two hundred dollars mark ($200) on 19th August and haven’t touched base again.

ETH price fell below the one hundred and ninety-two dollars($182.945) support level on 16th August, exposing it to the one hundred and sixty-four dollars ($164) support further below.

Next up was the steady decline to one hundred and sixty dollars ($160). But the support points didn’t fail to sustain ETH price above one hundred and eighty dollars ($180.55) acting as its savior. If all hell had broken loose, we would have seen Ethereum price at a hundred dollars ($100.75).

Ethereum price analysis: ETH price unable to sustain $200 1Ethereum price chart by Trading View

Ethereum price analysis further reveals that while things might turn out good for ETH price and its price may start inclining the graph – both the moving averages give no plausible reason to hope for a bearish rebound as the trend currently is towards the bottom. The relative strength index (RSI) also calls the traders out to sell in their chips while the selling is good.

At the time of writing this article, Ethereum’s market cap is nineteen million dollars ($19,955,435,269) ad it trades at one hundred and ninety-four dollars ($194.37). The circulating supply amounts to 0.1 million ETH (107,356,928).

Ethereum price analysis: Resistance/Support

Speaking of the averages, the twenty-day (20) exponential moving average (EMA) and the fifty (50) day simple moving average (SMA) will offer resistances to ETH price at one hundred and ninety-six dollars ($196.51) if the bulls fight two hundred dollars ($200) mark again.

Ethereum price analysis: ETH price unable to sustain $200 2

Ethereum price chart by Trading View

Up next on the graph, the bears can expect some resistance at the two hundred and twenty dollars ($220) if the moving average resistance and the one hundred and ninety-six (196.51) mark does not prove troublesome enough.

Careful observation of the graph (above) gives a clear picture of the bearish downward triangle pattern, and the prices are all enclosed within it.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

Related News

Hot Stories

Crypto News Alert – A New Meme Coin That Will Process 50,000 Transactions Per Second
Polkadot price analysis: DOT price will break above the closest resistance level found at $ 9 over the weekend
Monero Price Prediction 2022-2031: Is XMR Price Going Higher?
Cryptocurrency Investments To Make in a Bearish Market - Shiba Inu (SHIB), Dogecoin (DOGE), and RoboApe (RBA)
ISO 20022 compliant crypto-list

Follow Us

Industry News

Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon
Uphold announces restriction of Venezuelan users