Ethereum Price Analysis: Ethereum (ETH) Climbs Slightly Above $190; Will it Sustain or Fall Back?

Fibo Quantum

Ethereum price attempts to make a leap above $190, making gradual gains to have a persistent trade. The coin was above the newly formed major resistance area of $200 in the past week until 19th August. Ethereum price had a major pull back in these 7 days wherein it was traded as low as $182.69, but fortunately did not slip below $180.

Currently, the Ethereum is in its price correction phase wherein it is trying to take gradual steps to combat the loss. Inevitable to note that ETH has made a notable jump of 6.5% from the lowest price of $182.20 to the highest price of $194.21.

ETH to USD Chart By TradingView:

The below Ethereum price chart is a data feed taken from Coinbase as on 26th August at 04:49 UTC.

ETH Price Chart by TradingView

Tracing the 24-hour movement of the coin, it is evident enough that the coin was hovering around the trading price of $191.57 at daybreak, yesterday. Towards the end of the day, Ethereum price slipped as low as $182.20 having a fall of 4.89% on the same day. At the onset of 26th August, Ethereum mounted to $194.21 with all the candles pointing to have a bullish crossover.

At the time of penning down, ETH is currently trading at $190.98 with a 1.66% plunge from the highest of the past 24 hours.

Technical Indicators:

Ethereum price in order to have a better off situation is moving away from the solid selling pressure.

The current trading price of Ethereum is slightly below the short-term moving average i.e. the 10-day SMA ($191.99) and 10-day EMA ($192.65). While the current trading ETH price is widely away (22.3%) from the long-term moving average i.e. the 100-day SMA.

The MACD of the ETH just had bearish crossover after having a bullish divergence at the price of $194.21.

The RSI of the Ethereum remains around 65, inclined towards the overbought region but no signs of the crossover at present.