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Ethereum Price (ETH) Holding $200 While Bitcoin Dived 6%

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Ethereum Price (ETH) Holding $200 While Bitcoin Dived 6%

ETH price is struggling to correct higher above the $215 resistance against the US Dollar.Ethereum price is still holding the $200 support, while bitcoin declined 6% to trade below $11,000.There is a major bearish trend line forming with resistance near $208 on the hourly chart of ETH/USD (data feed via Kraken).The pair remains at a risk of more downsides unless it breaks the $215 and $220 resistance levels.Ethereum price is holding the key $200 support versus the US Dollar, whereas recovering vs Looking at the chart, Ethereum price is clearly trading in a bearish zone below $215. However, it is holding the key $200 support area. As long as there is no daily close below the $200 support, there are chances of a short term rebound. Having said that, it won’t be easy for the bulls to gain traction above the $215 and $216 resistance levels.ETH Technical IndicatorsHourly MACD The MACD for ETH/USD is slowly moving back into the bearish zone.Hourly RSI The RSI for ETH/USD is holding the 40 level, with a minor bullish angle.Major Support Level – $202Major Resistance Level – $212

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Author: Aayush Jindal

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