Ethereum Price Analysis: ETH/USD Remains Supported Above $220

Key Highlights

$850: Ethereum’s Rally May Turn Parabolic After It Taps This Support Level
Wednesday January 22, 2020

Ethereum has been able to continue inching higher today after ETH outperformed Bitcoin and the aggregated crypto market yesterday. This upwards movement is very tempered, however, and the crypto is still struggling to break...

The post $850: Ethereum’s Rally May Turn Parabolic After It Taps This Support Level appeared first on 12bitplay - Bitcoin Play.

ETH price is holding the $220 support level very well against the US Dollar.
There is a short-term connecting bearish trend line formed with resistance at $225 on the hourly chart of ETH/USD (data feed via Kraken).
The pair must clear the $225, $228 and $230 resistance levels to gain momentum in the near term.

HODL Strong: Over Half of The Bitcoin Supply Hasn’t Moved in Over a Year
Monday January 27, 2020

The term HODL is an acronym derived from the phrase “hold on for dear life,” which became a widely popular recommendation for investors to remain steadfast in when Bitcoin’s notorious volatility peaks. It appears...

The post HODL Strong: Over Half of The Bitcoin Supply Hasn’t Moved in Over a Year appeared first on 12bitplay - Bitcoin Play.

Ethereum price remained above key supports against the US Dollar and bitcoin. ETH/USD is placed nicely for more gains above the $214 trend support.
Ethereum Price Analysis
Recently, there was a solid support base formed near the $219-220 zone in ETH price against the US Dollar. The ETH/USD pair started an upside move and settled above the $222 level. There was also a break above the 23.6% Fib retracement level of the recent decline from the $230 high to $220 low. Moreover, the price traded above the $224 level and settled above the 100 hourly simple moving average.
However, the upside move was capped by the $225-226 resistance zone. More importantly, there is a short-term connecting bearish trend line formed with resistance at $225 on the hourly chart of ETH/USD. Additionally, the 50% Fib retracement level of the recent decline from the $230 high to $220 low is also acting as a resistance. If buyers push the price above the trend line and $226, there could be more gains. The next major resistance on the upside above $226 is near the $230 level, which is also a significant pivot level. On the downside, an initial support is near the $222 level and the 100 hourly SMA.

Massive 66% Rally in Ripple’s XRP Hinges On This Key Level
Saturday January 25, 2020

XRP didn’t have the best of years in 2019. In a year when effectively all assets posted jaw-dropping gains — Bitcoin gained 95%, the S&P 500 rallied by over 30%, gold posted an approximate...

The post Massive 66% Rally in Ripple’s XRP Hinges On This Key Level appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, ETH price is placed nicely above the $222, $220 and $214 support levels. As long as the price is above the $214 pivot level, there are chances of an upside move. In the mentioned case, the price will most likely move above the $225-226 resistance zone.
Hourly MACD – The MACD is slowly moving in the bullish zone.
Hourly RSI – The RSI is currently placed above the 50 level.
Major Support Level – $220
Major Resistance Level – $226
The post Ethereum Price Analysis: ETH/USD Remains Supported Above $220 appeared first on NewsBTC.

You may also like...