Ethereum Price Prediction: ETH/USD needs to breakdown $170 for greater upside

  • Ethereum holding decent gains on Tuesday evening, up some 11% at the time writing.
  • ETH/USD is capped for now by a chunky supply area seen at $170 territory.

Ethereum price on Tuesday holding chunky gains of around 11% in the latter part of trading, flirting around the $160 price mark at the time of writing. A decent rally was seen across the market, as life kick-backed into the bulls.

ETH/USD upside was somewhat capped by a big area of supply, which is seen at the very early part of $170 territory, where the price faced big rejection on 24th February. This is the last major until a potential reclaim of the $200 territory.

Looking via the daily confluence detector, firstly the barriers of resistance; $175.35, monthly pivot point resistance. To the downside; $162.20, weekly pivot point support, $160.56, daily pivot point support. 

ETH/USD daily confluence detector


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