ETH/USDT

[CebuBitcoin]

Ethereum has been trading close to the 20-day EMA for the past seven days. Both moving averages have turned flat and the RSI has also been hovering around the midpoint. This shows a consolidation in the range of $200–$250.

A break out of the overhead resistance of $250 and the 50-day SMA will tilt the balance in favor of the bulls. Above $250, the ETH/USD pair might rally to $300–$322.57.

The key support to watch on the downside is the zone of $192–$200. If the bears sink the pair below this support, a retest of the lows is likely. We should get a decisive move in either direction this week.

Source