Ethereum (ETH) News – Can Ethereum (ETH) Price sustain in 3 digits?

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Looking at the trend in the last couple of days, Ethereum (ETH) has swiftly moved from $ 85 to above $ 100. The question which remains is whether it can sustain above these levels or not. In the past, whenever there is a cryptocurrency downtrend or a sell-off, Ethereum (ETH) has been the 1st to fall. This is one of the main reasons why many of the Ethereum (ETH) investors are actually not sure about whether they want to hold it or not.

Can Ethereum (ETH) price sustain in 3 digits?

Currently, Ethereum (ETH) is trading around $ 102. It has moved up swiftly. However, on the upside there are multiple resistances. It is crossed to the psychological resistance of $ 100 pretty swiftly.

The next resistance for Ethereum (ETH) is around $ 108. If it is not able to sustain that, there are increased chances that it might once again head below $ 108. Even if it manages to cross $ 108, there are numerous resistances. The closest one after that is around $ 115. Thus, the up-move for Ethereum (ETH) is not that easy. When you look at some of the other indicators, you will realize that MACD is in the bullish zone. However, the RSI indicator is very near to the overbought zone. That is why, according to RSI it might be a good idea to go slow when it comes to Ethereum (ETH).

The next psychological support is around $ 100. After that, there is another close by support around $ 97. Thus, even if it breaks $ 100, it can find another support nearby around $ 97. This is the reason why on the downside it is expected that it will take support and hold at those levels rather than moving all the way back up to $ 90. It remains to be seen whether the momentum is able to sustain itself or not.

The Ethereum (ETH) cryptocurrency has fallen significantly from the higher levels. Owing to this very reason, a bounce back was always on the cards. The ferocity of this bounce back will remain to be seen. If it is ferocious enough, it can sustain for a longer period of time which will in turn provide plenty of opportunities to the investors to recover some of the losses. For the time being however, it seems like even if it does not sustain in 3 digits, it will find multiple supports between $ 97 and $ 90.

About Priya 131 Articles
I am an IT engineer by qualification and like to explore the crypto and blockchain space in my free time.

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