- Ethereum price is struggling with resistance at $200 after refreshing support at $195.
- Ethereum staking will allow investors to earn a return on investment while securing the network.
Ethereum price is slightly in the green following attempts to correct from the dip to Friday’s low at $196.22. The prevailing trend is strongly bullish and the expanding RSI means that rapid price actions are still possible in the coming sessions. ETH/USD is exchanging hands at $199.42; slightly above the $198.55 (opening value).
From Monday, Ethereum bulls fought tooth and nail to break the resistance at $220. It became increasingly difficult to sustain gains above $210 after hitting a snag at $216. This called for more losses as bears got more confident. Tentative support areas at $205 and $200 did little to stop the losses. Fortunately, the buyer congestion at $195 came to the bulls’ rescue.
The technical picture has started to turn bullish after the $195 support. The RSI has slowed down the negative gradient movement and is now horizontal at 51. As long as the indicator stays above 50 (average), sideways trading could lead to a consolidation around $200; a situation that is preferable to the buyers as opposed to suffering more losses to $190. Apart from $195, other support areas of interest to Ether include the confluence formed by the 50% Fibo and the 100-day SMA, the 50-day SMA and the zone between $175 and $180.
ETH/USD daily chart
 (21)-637257116288757335.png)
Ethereum token dynamics
Ethereum network is moving closer to the launch of ETH 2.0 which will introduce features such as staking for investors, expanded transaction capacity, Proof of Stake (PoS) consensus algorithm among others. After Bitcoin halving took place, attention has started to shift to Ether.
Experts now believe that the platform future as the powerhouse of decentralized apps is bright. Moreover, staking is one of the features investors are eagerly waiting for. This will allow them to earn an interest on the coins staked in the network. Staking is also good for the network as it makes sure security is heightened while making the network even faster.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.