Ethereum bullish but runs out of steam for recoil above $200. Both the 50 SMA and the 100 SMA will limit gains above $200. The market is struggling to stay above $200 billion, although the market cap currently stands at $203 billion. The slight declines yesterday saw most of the top 20 digital assets correct lower below key support areas. The $20 billion crypto, holding the second position in the market is trading at $196. Ethereum has a 24-hour trading volume of $1.4 billion with most of its trading activity taking place on DOBI trade and Bithumb. Trading signals for traders using technical indicators are positive. Ethereum, alongside other digital assets have resumed the upside trend. However, the bulls are still in hibernation hence the slight recovery progress on the day. The drop on Monday saw Ethereum break the support at $200. Fortunately, the nest support at $195 held ground preventing more losses heading to the previous support area at $190. At press time, ETH/USD gains have been capped at $197. Ethereum is currently stuck in range with the lower limit at $195. If the bulls manage to escape the bear range, they then face resistance at the 50 SMA currently at $200 before battling with the sellers at the 100 SMA currently at $201. The MACD signal line is still in the negative region but making advances towards the mean level. The RSI is slowly heading north showing that the bulls are likely to continue increasing their entries in the short-term. A move that could see ETH/USD reclaim the support at $200. ETH/USD 60-minutes 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 GBP/USD bounces off 2-month lows, still deep in the red near mid-1.2700s FX Street 4 years Ethereum bullish but runs out of steam for recoil above $200. Both the 50 SMA and the 100 SMA will limit gains above $200. The market is struggling to stay above $200 billion, although the market cap currently stands at $203 billion. The slight declines yesterday saw most of the top 20 digital assets correct lower below key support areas. The $20 billion crypto, holding the second position in the market is trading at $196. Ethereum has a 24-hour trading volume of $1.4 billion with most of its trading activity taking place on DOBI trade and Bithumb. Trading signals for… 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.