At press time, Ethereum, the world’s second largest cryptocurrency by complete market capitalization is buying and selling at a comparatively steady worth level of $209.73. Nevertheless, as will be seen from the chart beneath, Ether has been struggling to keep above the $200 threshold for the previous week or so — with the premier crypto asset even falling to the $195 mark only a few of days again.
ETH: A Technical Outlook
As per a few of the technical indicators being showcased by Ethereum, the foreign money has been ready to type a ‘strong help base’ round the $198 area. It is usually being estimated that the alt-asset could possibly be on its manner to reaching the $218 mark (following which a pointy draw back correction may be noticed).
Additionally price mentioning is the proven fact that Ether is at the moment sitting beneath the 50% Fib retracement stage, which implies that if costs proceed to decline additional, we might see Ether as soon as once more shut out the day…