- The Ethereum Award defends $ 180 support for an incredible move against $ 200.
- Technical levels are their most important for another majestic move that can remove $ 200 level resistance.
The Ethereum price action over the weekend came as both a surprise and a surprise welcome move. Last week, we discussed that investors would probably start to get worried if Ethereum failed to correct the downtrend as quickly as possible. The good news is that the biggest altcoin seems to be breaking away from Bitcoin after breaking the downtrend with formidable gains over $ 180.
The rest of the altcoins have followed quickly. Bitcoin Cash managed to secure $ 300 and advance towards $ 31[ads1]0 while Litecoin is up 1.7% after securing $ 70 as the main support. Other altcoins that perform relatively well on Monday are NEO, IOTA and Dash.
Ethereum, on the other hand, is about the simple moving averages per hour. Both 50 SMA and 100 SMA are playing for the prize that is now testing $ 195 resistance. After the impressive 2.55% increase in value during the Asian trading hours, Ether holds the ground at $ 194.31.
The Moving Average Convergence Divergence (MACD) deviation suggests that Ethereum is at a bullish level. Therefore, upward movements are not over yet and $ 200 is within reach. Furthermore, the gap between 50 SMA and 100 SMA continues to widen and signal a healthy, bullish momentum. The previously strong $ 190 and $ 180 resistance areas will serve as key support areas from now on.