ETH/USD has been moving in a tight range after a recovery from the recent low. The daily SMA500 now serves as a local support for the price. ETH/USD is changing hands at $227.50. The coin has stayed mostly unchanged since the start of the day and gained 1.3% on a day-to-day basis. Ethereum is the second-largest digital asset has the current market value of $25.2 billion and an average daily trading volume of $6.4 billion. ETH/USD tested the high of $249.26 before another bullish wave on the cryptocurrency market pushed it back towards the lower boundary of the recent consolidation channel. The coin hit the low of $216.37 on June 27 and recovered towards $227.50 by the time of writing. The coin has been moving in sync with the market. ETH/USD: Technical picture ETH/USD recovered above the daily SMA50 (currently at $225.00). The move has improved the technical picture, however, a sustainable move above $230.00 is needed for the upside to gain traction. Once it is out of the way, the recovery may proceed to $232.00 (the middle line of the daily Bollinger Band) and towards $240.00. This barrier is reinforced by the upper line of the daily Bollinger Band. From the long-term perspective. $250.00 is a key barrier thatserved as an upper boundary of the previous consolidation channel that limited the recovery in the beginning of June. On the downside, the local support is created by the above-mentioned daily SMA50. Then comes psychological $220.00 and the lowest level of the previous week at $216.37. If the price moves below this area, $200.00 will come into view; however the sustainable decline below this level looks unlikely at this stage. ETH/USD daily 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 Gold: Longer-term target at top of 49-year channel at 1981.56 – Commerzbank FX Street 2 years ETH/USD has been moving in a tight range after a recovery from the recent low. The daily SMA500 now serves as a local support for the price. ETH/USD is changing hands at $227.50. The coin has stayed mostly unchanged since the start of the day and gained 1.3% on a day-to-day basis. Ethereum is the second-largest digital asset has the current market value of $25.2 billion and an average daily trading volume of $6.4 billion. ETH/USD tested the high of $249.26 before another bullish wave on the cryptocurrency market pushed it back towards the lower boundary of the recent consolidation channel.… 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.