On the weekend, Ethereum tried to rise above $190, but this ride was unsuccessful. The EHT/USD pair fell to the support area of $170. Now Ethereum is still making another attempt to break above level 190. Yesterday, the ETH/USD pair peaked at $194 but rolled back down. At the time of publication, the price of the Ethereum is $186.
The bulls managed to move the support area to the $180 area. If you look at the hourly and 4-hour charts of the ETH/USD pair, you can see the formation of a bullish trend line with support around $184.
If the ETH/USD pair manages to overcome the level of $190, the level of $195 will become an intermediate resistance towards the psychological mark of $200. Bulls will not be able to overcome this level quickly. If we see a daily close above the $200 mark, the ETH/USD pair will be able to quickly rise to the $250 area.
On the other hand, if the pair ETH/USD fails to overcome the mark of $190 for the second time, we will see a bearish correction. The mark of $170 and the 100-hour SMA will provide enough support in this case, below which the price may drop to the support zone of $165.
The RSI technical indicator is forming in the region of 60, signaling the further growth of the ETH/USD pair.