ETH/USD $200 barrier is proving to be a problem

Fibo Quantum

  • Ethereum price is trading in the green, up 0.25% the session on Wednesday.
  • ETH/USD continues to move within a narrowing range, subject to further committed direction. 
  • A strong barrier of resistance is in the way of greater upside at the psychological $200 mark.

 

ETH/USD daily chart

The price is moving just underneath the $200 area, one push away from a breach. A daily closure above could be very inviting for more upside pressure. 

ETH/USD 60-minute chart

An important near-term ascending trend line can be observed via the 60-minute chart view. 

 

Spot rate:                  189.45

Relative change:      +0.25%

High:                         194.80

Low:                          188.10