Ethereum Price Analysis: ETH Pushes Above $200 Resistance, Struggles to Sustain Uptrend

Key Highlights

  • Ethereum  faces resistance at $225
  • The coin targets $240 and $250 price levels

Ethereum (ETH) Current Statistics

  • The current price: $212.91
  • Market Capitalization: $23,575,956,101
  • Trading Volume: $29,037,252,121
  • Major Resistance Zones: $175, $200, $225
  • Major Support Zones: $125, $100, $75

Ethereum (ETH) Price Analysis April 30

Ether’s upward move was short-lived as the crypto faces selling pressure after testing $225 resistance. Analysts believe that the crypto will rise and test the high of $240 and $250. Today, the uptrend was terminated at $225 as the cryptocurrency fell and found support above $200. The ability of the bulls to defend $200 support will enable ETH to resume a fresh uptrend.

The recent downtrend was attributed to the overbought condition of the coin. The coin reached a high of $225 as sellers emerged to push prices downward. The bulls are expected to hold the $200 support for the resumption of a new uptrend. On the other hand, if the bears turn around and break below $200 support, the first biggest altcoin will be in a bad picture. This is because the other altcoins are rising.

ETH/USD - Daily Chart

ETH/USD – Daily Chart

Ethereum Technical Indicators Reading

Ethereum is in the overbought region of the market as indicated by the daily stochastic. The stochastic bands are making a U-turn indicating that the strong bullish momentum is becoming weak. What is in place is the price bars which are above the EMAs indicting that the upward move is ongoing. A break below the EMAs will mean a downward movement of prices.

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  • bitcoinBitcoin (BTC) $ 23,697.00 2.92%
  • ethereumEthereum (ETH) $ 1,629.75 3.47%
  • bnbBNB (BNB) $ 319.21 4.13%
  • xrpXRP (XRP) $ 0.416082 1.31%
  • solanaSolana (SOL) $ 26.02 8.26%
  • terra-luna-2Terra (LUNA) $ 2.17 1.78%