Ethereum Market Update: $200 Bound ETH/USD Hits A Snag Short Of $190

• The weekend session has been successful as Ethereum resumed the uptrend hitting above $180.
• Ethereum is back to trading at the levels of November 2018.

Since Ethereum bulls work up from the deep slumber, they have been pushing the limits. Ethereum corrected above $180 resistance congestions. However, the bulls failed to hold the price above the level letting the bears sent ETH back to the support congestion at $155. However, the weekend session has been fruitful as Ethereum resumed the uptrend hitting above $180 today morning (GMT).

Although Ethereum bulls are targeting $200, the momentum lost steam short of $190 and formed a high at $187.51. In spite of the retracement from the highs, Ethereum is back to trading at the levels of November 2018. Besides, it is exchanging hands at $181.15 as the trend starts ranging. The RSI is horizontal at 64.44 after dropping from the overbought at 88.88. The MACD 1-hour at +4.0274 is in a downward slopping motion.

In the coming sessions we can expect ETH/USD to stay above $180. However, if it slides below this level, the trendline support will come in handy to prevent losses towards $170. Other key support levels include the 61.8% Fib level 1-hour, the 50 SMA 1-hour, 100 SMA 1-hour, $155 (last week’s support) and $140 (former resistance level).

ETH/USD 1-hour

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