This Scenario Will Trigger A New Ethereum Rally: Key Levels To Watch

This Scenario Will Trigger A New Ethereum Rally: Key Levels To Watch


Ethereum is trading above a major support at $225 against the US Dollar. ETH could start a fresh rally if it clears the $228 and $230 resistance levels in the near term.

Ethereum is trading with a positive bias above the $224 and $225 support levels. The price seems to be positioning for a break above the $228 and $230 resistance levels. There is a decisive ascending channel forming with support near $224 on the hourly chart of ETH/USD (data feed via Kraken). The pair may perhaps dive if it fails to stay above the $224 and $222 support levels. Ethereum Price is Holding Key Support

Recently, Ethereum price made another attempt to surpass the $228 and $230 resistance levels against the US Dollar. ETH price failed to continue higher and formed a swing high near the $230 level.

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It corrected lower below the $226 level and the 100 hourly simple moving average. However, it remained well bid above

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