Ethereum Is Positioned For an Upsurge: Critical Levels to Focus
The price of ETH against the USD is sustaining some major supports over $185. The price could continue to the upside over $190 and keep it up in the near term.
The price attained a fresh high for this year at $195 before a downside retracement. The retracement led to beneath $192 and $190 support. Nevertheless, the support zone at $185 became a powerful bullish area together with the 100 hourly SMA.
The price was able to form a swing low close to $184 and it is now rising. Currently, the price is close to the $190 barrier zone. A look at the hourly chart of ETH against the USD reveals the formation of a key declining channel with barrier close to $190.
A successful upsurge over $190 could bring about a sharp price increment. The immediate key barrier is close to $195 and a move over it could lead to remarkable rise in the sessions ahead.
A look at the downside reveals the major support close to $185. The occurrence of a downside break beneath $185 and $184 support poses a risk of a huge fall.
The immediate key support is close to $180 and then the $178 pivot level. The price needs to remain over supports at $180 and $178 to avoid an awful fall. If the price closes beneath $178 support, a bearish sentiment could ensue in the near term.