$195~$200 will be the last defense, break will usher a bullish
https://www.tradingview.com/chart/T4dJcKED/
ETH was also blocked when testing the upwards resistance level of $195. The reason why this point is defined as the key point is that the plunge in March was based on this price as a starting point, and the upper edge of the consolidation area before the big bullish last year.
Thus it is meaningful if can break this point. In general, the market may usher in a unilateral pump unless it continues to be under pressure around $195, trend may continue to pullback and make a breakthrough later.
Investors should remind that breaking $200 can expect a further pump, and before the pullback fall below $175, the pattern of bullish channel won’t be broken.
The hourly volume level is obviously increasing during this breaking, it may be a signal to rebound more if can keep or exceed current level.
Resistance and support levels
Short-term resistance: $195
Medium-term resistance: $200
Short-term support: $185
Medium-term support: $175
ETH was also blocked when testing the upwards resistance level of $195. The reason why this point is defined as the key point is that the plunge in March was based on this price as a starting point, and the upper edge of the consolidation area before the big bullish last year.
Thus it is meaningful if can break this point. In general, the market may usher in a unilateral pump unless it continues to be under pressure around $195, trend may continue to pullback and make a breakthrough later.
Investors should remind that breaking $200 can expect a further pump, and before the pullback fall below $175, the pattern of bullish channel won’t be broken.
The hourly volume level is obviously increasing during this breaking, it may be a signal to rebound more if can keep or exceed current level.
Resistance and support levels
Short-term resistance: $195
Medium-term resistance: $200
Short-term support: $185
Medium-term support: $175
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