Ethereum price has moved above the $200 mark for the first time since September last year, as the bulls prepare a basis for a trip to the mid $200s. As the chart below suggests, investors have continued to buy Ethereum in the past few days as they eye a trip to test the major resistance zone that starts at $225 - a September high.
Above, the 50% Fibonacci coincides with the August high, marking another important resistance. The area bordered by $225 and $240 marks the next big target for the bulls. However, Ethereum bulls should clear the $210 mini resistance first before assaulting the next target.
Above, the 50% Fibonacci coincides with the August high, marking another important resistance. The area bordered by $225 and $240 marks the next big target for the bulls. However, Ethereum bulls should clear the $210 mini resistance first before assaulting the next target.