Ethereum Price Weekly Analysis: ETH/USD Consolidating Above $225

Key Highlights

Ripple Joins Bitcoin and Ethereum In Gaining Regulatory Clarity in the UK
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While regulatory uncertainty permeates the crypto industry currently due to the United States suddenly taking an aggressive and negative stance against the digital asset class, in the UK, Ripple (XRP) has gained sudden clarity...

The post Ripple Joins Bitcoin and Ethereum In Gaining Regulatory Clarity in the UK appeared first on 12bitplay - Bitcoin Play.

ETH price made a nice upside move and traded above the $225 level against the US Dollar.
There was a break above a major contracting triangle with resistance at $228 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair is currently consolidating in a range above the $225 and $228 support levels.

Ripple Price (XRP) Could Recover While BTC and ETH Facing Hurdles
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Ripple price started an upside correction after trading to a new monthly low at $0.2897 against the US dollar. The price is trading above the $0.3000 level, with a few positive signs. There was...

The post Ripple Price (XRP) Could Recover While BTC and ETH Facing Hurdles appeared first on 12bitplay - Bitcoin Play.

Ethereum price is holding gains versus the US Dollar and Bitcoin. ETH/USD could trade further higher as long as it is above the $225 support.
Ethereum Price Analysis
This past week, there was a decent support base formed near the $215-216 zone in ETH price against the US Dollar. The ETH/USD pair started an upside move and broke the $218, $220 and $225 resistance levels. The price moved into a bullish zone above the $225 level. It also settled above the $220 pivot level and the 100 simple moving average (4-hours).
There was also a break above the 50% Fib retracement level of the last decline from the $256 high to $203 low. During the upside move, there was a break above a major contracting triangle with resistance at $228 on the 4-hours chart of ETH/USD. The pair tested the $235-236 resistance zone and it is currently consolidating gains. It seems like the 61.8% Fib retracement level of the last decline from the $256 high to $203 low is acting as a resistance. If there is a break above the $236 resistance, there could be more gains in the near term. On the other hand, dips towards the $225 level and the 100 simple moving average (4-hours) remains supported.

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The post Bitcoin Craters to $10,500, Sentiment Hits December Lows: Can BTC Bounce? appeared first on 12bitplay - Bitcoin Play.

The above chart indicates that ETH price could climb further higher as long as the price is above $220 and $225. Below $220, the price could extend its slide towards the $216 support level.
4-hours MACD – The MACD is slowly moving back into the bullish zone.
4-hours RSI – The RSI is currently well below the 55 level.
Major Support Level – $225
Major Resistance Level – $236
The post Ethereum Price Weekly Analysis: ETH/USD Consolidating Above $225 appeared first on NewsBTC.

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