Ethereum (ETH) Price Hits First Target: $240 Could Be Next

ETH price climbed above the $210 resistance level and tested the $225 level against the US Dollar.
The price remains in a strong uptrend and it could soon test the $240 resistance area.
There is a new short term bullish trend line forming with support near $209 on the hourly chart of ETH/USD (data feed via Kraken).
The pair remains well supported on the downside near the $215 and $210 levels.

Bitcoin (BTC) Price Targets Additional Gains: Dips Remain Supported
Monday May 20, 2019

Bitcoin price started a fresh increase after forming a support base above $6,900 against the US Dollar. The price gained bullish momentum above $7,400 and settled above the key $7,650 pivot level. There is...

The post Bitcoin (BTC) Price Targets Additional Gains: Dips Remain Supported appeared first on 12bitplay - Bitcoin Play.

Ethereum price climbed sharply above $220 versus the US Dollar, and recovered a few points vs bitcoin. ETH price is likely to continue higher and the bulls are likely to target the $240 level next.
Ethereum Price Analysis
Yesterday, we discussed the chances of an upside break in Ethereum price above $210 against the US Dollar. The ETH/USD pair formed a decent support base near the $200 level and later climbed above the $210 resistance level. The bulls gained momentum above $215 and the price remained well above the 100 hourly simple moving average. As a result, there was a break above the $220 level and the price tested the first bullish target near $224-225. A swing high was formed near $225 and the price is currently correcting lower.
An immediate support is near the $215 level. The next support is near $212 and the 50% Fib retracement level of the recent wave from the $200 swing low to $225 high. There is also a new short term bullish trend line forming with support near $209 on the hourly chart of ETH/USD. The trend line support coincides with the 61.8% Fib retracement level of the recent wave from the $200 swing low to $225 high. The main support is near the $204 level (the recent resistance area).
On the upside, a break above the $225 level could open the doors more gains. An immediate resistance may be $230, above which the price is likely to surge towards the next bullish target at $240. The current price action indicates a short term downside correction, but the bulls are likely to protect $215 or $212.

Tether Limited “Investing” in Bitcoin (BTC) is a Bullish Signal
Wednesday May 22, 2019

Bitcoin (BTC) ranging but stable A portion of Tether reserves was used to invest in Bitcoin (BTC) Tether and iFinex, the parent company, are controversial though they play a crucial role in the ecosystem....

The post Tether Limited “Investing” in Bitcoin (BTC) is a Bullish Signal appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, Ethereum price is clearly gaining pace above key levels such as $200 and $210. As long as the price stays above the $200 pivot level, it is likely to continue higher in the coming sessions. If there is a downside break below $200, the price could start a major correction towards $185.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently moving nicely in the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently correcting lower from the 70 level, with a positive bias.
Major Support Level – $212
Major Resistance Level – $225
The post Ethereum (ETH) Price Hits First Target: $240 Could Be Next appeared first on NewsBTC.

Crypto Market Holding Key Support: Bitcoin Cash, Litecoin (LTC), ADA, TRX Analysis
Tuesday May 21, 2019

The total crypto market cap is currently above the key $225.0B and $230.0B support levels. Bitcoin price seems to be struggling to clear the $8,000 barrier and is trading in a range. Litecoin (LTC)...

The post Crypto Market Holding Key Support: Bitcoin Cash, Litecoin (LTC), ADA, TRX Analysis appeared first on 12bitplay - Bitcoin Play.

You may also like...