Ethereum at Make-or-Break Levels: Key Supports To Watch

ETH at key levels

Ethereum Price Facing Key Resistance

In the past few sessions, there were mostly bullish moves above the $190 level in Ethereum against the US Dollar. ETH price is forming a strong support base above $190, but it is also struggling to gain momentum above the $198-$200 resistance area.

Recently, there was a fresh upward move from the $192 swing low. The price climbed above the $196 level, but it failed to continue above the $198-$200 resistance area. A high is formed near $198 and the price is currently consolidating.

Ethereum is trading below the 23.6% Fib retracement level of the recent move from the $192 swing low to $198 high. On the downside, there is a strong support forming near the $194 and $195 levels.

More importantly, there is a major bullish trend line forming with support near $194 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the recent move from the $192 swing low to $198 high. Read More

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When I came up with Ethereum, my first first thought was, 'Okay, this thing is too good to be true.' As it turned out, the core Ethereum idea was good - fundamentally, completely sound