ETH takes a bold step as the bulls arrive at a high of $186. Before this time, the coin has been fluctuating between $157 and $173. Buyers made two unsuccessful attempts to break the resistance at $173. Nevertheless, Ethereum has scaled through but faces another bottleneck at $186.
ETH retraces to the support above $180 while it continues its bullish move. Interestingly, Ethereum uptrend will be dependent upon the buyers’ ability to breach the resistance at $186 and $197. Possibly, the market will rally above $200, if the resistance is breached. Presently, Ether is trading above $180.
Ethereum Indicator Analysis
ETH is over 80% of the daily stochastic range. This implies that Ether is in the overbought region of the market. In that case, buyers will not be available to push Ether upward. Rather, the coin may probably fall because of the emergence of sellers to push Ether downward.
What Is the Next Move for Ethereum?
Ether has shot up to $186 and found support above $180. Previously, ETH was range-bound between $157 and $173. Buyers are expected to initiate a move over the $180 support. A break over the $186 resistance will push the price over $197. Nevertheless, if the $180 cracks, ETH will fall to the earlier range-bound zone