The bulls purchased the minor dip on Feb. 4 and have today pushed the price above the overhead resistance at $197.75. If the bulls can sustain the price above this level, the altcoin is likely to pick up momentum. Above $197.75, the rally can extend to the next resistance at $224.00 and above it to $235.70. Both moving averages are sloping up and the RSI is in the overbought zone, which suggests that bulls are firmly in command. The traders can trail the stops on the remaining long positions to $180.
If the bulls fail to sustain the price above $197.75 , the ETH/USD pair will lose momentum. The pair will turn negative on a break below the strong support at $173.00
If the bulls fail to sustain the price above $197.75 , the ETH/USD pair will lose momentum. The pair will turn negative on a break below the strong support at $173.00