Ethereum price stuck below $175: What to expect?

The queen of cryptocurrency Ethereum (ETH) is facing troubles again since the Ethereum price is facing heavy resistance at the one hundred and seventy-five dollars ($175) mark.

Ethereum price trend shows that the currency managed to hit the one hundred and seventy-nine dollars ($179) mark on the 17th of October only to drop.

Then ETH price jumped up to one hundred and seventy-seven dollars ($177) mark on the 21st of October but failed to retain that position.

ethereum price chart 1 - 21 october 2019Ethereum price chart by Trading View

Ethereum price resumes facing trade bumps with slight upturns. It is probable to drop to the price range of a hundred and sixty-one ($161.056) to a hundred and fifty-one ($151.829) dollars.

History from September indicates the quick purchases of ETH owed to similar dips. Thus, the bull market covering this area is likely to occur.

Ethereum price movement: What to expect?

Considering the recoil of the ETH/USD duo from the support area, the bulls will try to raise it back towards the taut range of one hundred and ninety-six ($196.483).

The embark and closure at Universal Time Coordinated may lead the rally to over two hundred and thirty-five ($235.70)

ethereum price chart 2 - 21 october 2019Ethereum price chart by Trading View

On the other hand, in case the rate falls below this support line, a decline to a hundred and twenty-two dollars ($122) is a possibility. Zealous traders could help retain the mark at a hundred and sixty dollars ($175) on the long term trend line.