Ethereum sustains gains above $200; eyes glued on $230. Defending $220 support is key to the surge above $230 and other levels towards $300. Ethereum embarked on an impeccable journey of breaking barriers on Friday. Following the extreme selling extravaganza last week, ETH/USD found support at $197. This gave way for a rebound above $200 and later retraced past the 61.8% Fibonacci retracement level taken between the last swing high of $225.84 to a swing low of $197.63. After reclaiming the support at $220, Ethereum bulls gave the price a push to the intraday highs around $222.85. At press time, ETH/USD is struggling to hold above the critical $220. The prevailing trend is gradually turning bearish especially with the Relative Strength Index (RSI) having hit the overbought region. Retreat from the levels above 70 will encourage the bears to increase their grip. Initial support is observed at $220 while the next support target is the trendline. The 50 Simple Moving Average (SMA) 1-hour is likely to offer support at $215. A further breakdown will be anchored by the 100 SMA 1-hour currently at $212. On the upside, staying above $220 is key to the surge above $230 and other levels towards $300. ETH/USD 1-hour 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 Crypto News share Read Next GBP/USD technical analysis: Struggles to register any meaningful recovery, pivots around 1.2100 handle FX Street 4 years Ethereum sustains gains above $200; eyes glued on $230. Defending $220 support is key to the surge above $230 and other levels towards $300. Ethereum embarked on an impeccable journey of breaking barriers on Friday. Following the extreme selling extravaganza last week, ETH/USD found support at $197. This gave way for a rebound above $200 and later retraced past the 61.8% Fibonacci retracement level taken between the last swing high of $225.84 to a swing low of $197.63. After reclaiming the support at $220, Ethereum bulls gave the price a push to the intraday highs around $222.85. At press time,… 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.
