Ethereum Bulls Now Target $204

Ethereum ETH continues higher for the sixth consecutive session breaching the first resistance at 200-day moving average yesterday and today the upward move accelerates targeting the 50-day moving average at 204.93. As of writing, Ethereum trades 2.29% higher at 202.43 as bulls are taking control. A golden cross pattern has formed for ETHUSD, which is a bullish pattern as the 50-day moving average crosses the 200-day moving average.  On the upside, immediate resistance for Ethereum now stands at 202.96 today’s high, while more selling pressure will be met at 204.93 at the 50-day moving average.

On the downside, first support for Ethereum (ETH) stands at 196.04 daily low and then at 194 the 200-day moving average, followed by 172 the low from September 2nd. Ethereum market capitalisation stands at 21.74 billion with the trading volume today reaching 8.5 billion. Bitcoin trades at 10,239 with a market cap at 183.7 billion and Litecoin – LTC trades at 73.60 with a market cap at 4.65 billion. The 100 biggest cryptocurrencies market capitalization holds above 267.2 billion.

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