ETH/USD crosses $190 for the first time since September 24, will $200-level be passed?

Fibo Quantum

  • ETH/USD went up from $181.15 to $193.25 this Wednesday.
  • The MACD indicator shows three straight bullish sessions.

ETH/USD went up from $181.15 to $193.25, going up by almost 6.70% this Wednesday. Currently, the ETH/USD is priced at around $193. The bulls managed to break past the $190-level for the first time since September 24. The hourly breakdown shows us that the price jumped from $182.45 to $192 within two hours and then trended horizontally. It looks like the price has found intraday resistance at $193.45. If the bulls manage to break past that, then they should be able to re-enter the $200-zone.

ETH/USD daily chart

The price is trending above the 20-day and 50-day Simple Moving Average (SMA 20 and SMA 50) curves. The Moving Average Convergence/Divergence (MACD) indicator and Elliott Oscillator both show three straight bullish sessions. In the daily chart, the next resistance levels lie at the $200 line and the SMA 200 curve.