Ethereum price recovery sped up on a breakthrough above the key technical level. A move towards $200.00 is a real possibility now. ETH leapfrogged above $196.00 during late Wednesday hours amid strong upside momentum on the cryptocurrency market. While the second-largest coin retreated towards $189.50 by the time of writing, it is still 5% higher from this time on Wednesday. Ethereum’s technical picture ETH/USD settled well above SMA50 (Simple Moving Average) on a. daily chart for the first time since September 24 and the middle line of one-day Bollinger Band. This development bodes well for ETH bulls had served as a strong resistance that separated ETH from an extended recovery. Now that it is out of the way, the upside is likely to gain traction with the next focus on psychological $200.00 closely followed by a stronger resistance created by a confluence of SMA100 daily, SMA200 daily and the upper line of one day Bollinger Band on approach to $210.00. On the downside, the selling pressure is likely to increase on a breakthrough below $184.00. This development will lead to a retreat towards the next psychological area $170.00 followed by October 6 low of $168.83. If it is broken, the sell-off may continue towards $164.50 and psychological $160.00. ETH/USD, one-day chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Forex News Today: Daily Trading News share Read Next ECB meeting accounts: QE was opposed by a number of members FX Street 3 years Ethereum price recovery sped up on a breakthrough above the key technical level. A move towards $200.00 is a real possibility now. ETH leapfrogged above $196.00 during late Wednesday hours amid strong upside momentum on the cryptocurrency market. While the second-largest coin retreated towards $189.50 by the time of writing, it is still 5% higher from this time on Wednesday. Ethereum's technical picture ETH/USD settled well above SMA50 (Simple Moving Average) on a. daily chart for the first time since September 24 and the middle line of one-day Bollinger Band. This development bodes well for ETH bulls had served as… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.