Ethereum: $200 is the Level for Bulls to Beat
Ethereum retreats today after three sessions of gains as the rebound continues from 4-month lows. As of writing, ETH trades 0.66% lower at 177.73 mirroring Bitcoin and other major cryptocurrencies lower. ETHUSD holds above the 200-day moving average as the technical outlook remains bearish. On the downside first support for Ethereum stands at 172 the low from September 2nd, followed by the low from May 6th at 158, while a convincing break below can lead the price down to 145 the low from April 25th. On the upside, immediate resistance for Ethereum now stands at 180.28 today’s high, while more selling pressure will be met at 202 where the 50 and 200 day moving averages cross.
Ethereum market capitalization stands at 19.17 billion with the trading volume today reaching 6.6 billion. BTCUSD trades at 10,529 with a market cap at 188.6 billion and Litecoin – LTC trades at 67.67 with a market cap at 4.2 billion. The 100 biggest cryptocurrencies market capitalization holds above 267.4 billion.