Ethereum price is facing a key resistance at $229 that must be overcome for gains above $230 to occur. ETH/USD trading above the triangle resistance gives bulls more influence over the price in the short term. Ethereum price bulls would rather die trying to outdo the bears as opposed to simply giving up. The dive to $210 last week was detrimental to the progress that had been made in February. However, there have been attempts to reverse the trend and once again place ETH/USD into the trajectory to tackle the resistance at $300. Meanwhile, Ethereum price is teetering at $228 amid a growing bullish force. The short term milestone is to pull the price above the resistance at $230. Importantly, the price is already trading above a falling triangle pattern. This breakout requires increased volume and participation by the bulls to deal with the hurdles at $235 and $240. Applied technical indicators reflect a bullish scenario for Ethereum. However, it appears that is not enough to convince more buyers to join the market. Besides, volatility remains low while the gradual upward slope of the RSI shows that recovery could be steady but slow. The bullish confirmation is the MACD’s positive divergence and the motion of the indicator towards the positive region. In other words, the price remains in the hands of the bulls. Ethereum price key support and resistance levels Support one: $226 (The Fibonacci 38.2% one-day and the SMA 200 15-minutes). Support two: $222 (The Bollinger Band 15-mins lower and SMA five one-day). Resistance one: $229 (The previous high 15-mins, BB 15-mins upper and the pivot point one-day resistance one). Resistance two: $238 (Fibonacci 38.2% one-week and pivot point one-day resistance three). ETH/USD 4-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 China’s Vice Foreign Minister: The impact of the coronavirus on belt and road projects is only temporary FX Street 2 years Ethereum price is facing a key resistance at $229 that must be overcome for gains above $230 to occur. ETH/USD trading above the triangle resistance gives bulls more influence over the price in the short term. Ethereum price bulls would rather die trying to outdo the bears as opposed to simply giving up. The dive to $210 last week was detrimental to the progress that had been made in February. However, there have been attempts to reverse the trend and once again place ETH/USD into the trajectory to tackle the resistance at $300. Meanwhile, Ethereum price is teetering at $228 amid… 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.
