Signals from technical indicators are positive, although ETH/USD is range bound. A break above the range is essential but defending the support at $195 keeps the bears at bay. The market is still sinking in the sea of red while the bulls’ attempts to correct higher are thwarted by selling pressure. The drop from $208 billion to $202 billion has left the buyers barely gasping for air. Ethereum, the 2nd largest cryptocurrency in the market in the world broke the levels above $200 to trade lows around $195. Moreover, the $20 billion crypto has recorded a decline in the daily trading volume from $1.5 billion to the current $1.3 billion in the last couple of days. In the interim, Ethereum is trading at $195.7, although it is confined in a range with the upper resistance limit $197. The declines a couple of days ago saw byers seek refuge around $195 preventing a slide the former support at $195. Ethereum has been unable to correct above the range resistance, besides, both the 50 SMA (15′ chart) and the descending trendline are capping gains immediately to the upside. The signals from technical indicators are positive but at this moment, buyers require a catalyst in order to break free from the resistance. If buyers can sustain growth above $197 ETH/USD will be primed for gains above $200. However, the ranging RSI means that the stability will continue in the near-term. The MACD, on the other hand, has sustained growth towards the mean line. Crossing over into the positive region will affirm the bulls presence in the market. For the buyers a break above the range is essential but defending the support at $195 keeps the bears at bay. Meanwhile, the support at $190 will come in handy; there is another support at $170 (primary support). ETH/USD 15-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 Crypto News share Read Next Canada: Industrial Product Price Index (IPPI) rose 0.1% in September following August’s 0.5% decline FX Street 4 years Signals from technical indicators are positive, although ETH/USD is range bound. A break above the range is essential but defending the support at $195 keeps the bears at bay. The market is still sinking in the sea of red while the bulls' attempts to correct higher are thwarted by selling pressure. The drop from $208 billion to $202 billion has left the buyers barely gasping for air. Ethereum, the 2nd largest cryptocurrency in the market in the world broke the levels above $200 to trade lows around $195. Moreover, the $20 billion crypto has recorded a decline in the daily… 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.
