Ethereum (ETH) & Ripple (XRP) Surge Sparks Fresh Rally In Altcoins

ETH price rallied further and broke the $200 and $210 resistance levels against the US Dollar. Bitcoin price is consolidating near the $10,200 and $10,250 pivot levels.
 There is a new connecting bullish trend line forming with support near $206 on the hourly chart of ETH/USD (data feed via Kraken).
 The pair is showing a lot of bullish signs and it might even surpass the $215 resistance level. Ethereum price is up close to 8% and ripple surged 18% versus the US Dollar, while bitcoin is consolidating.
 ETH price could continue to grind higher towards $225.
 Ethereum Price Analysis Yesterday, there was a sharp rise in ETH price above the $195 resistance against the US Dollar.



 Later, the price even touched the $200 level before starting a consolidation phase.
 Finally, the price broke to the upside and surpassed the $200 barrier.
 It opened the doors for more gains above the $205 and $210 resistance levels.
 A new weekly high was formed near $215 before the price started a downside correction.
 Besides, ripple price performed really well and surged more than 15%.
 XRP broke the $0.2650 resistance (as discussed yesterday), opening the doors for a massive upward move.
 Looking at Ethereum, the price corrected gains recently after setting a new monthly high near $215. The price declined below the $210 level.




 Moreover, there was a break below the 23.6% Fib retracement level of the recent wave from the $196 low to $215 high. However, the $208 level acted as a support and prevented additional losses. On the downside, there are many supports near $208 and $206.
 There is also a new connecting bullish trend line forming with support near $206 on the hourly chart of ETH/USD.
 The 50% Fib retracement level of the recent wave from the $196 low to $215 high is also sitting tight near the $206 level.

Therefore, the price remains well supported near $208 and $206. Below the $206 support, the price could test the $200 support area. On the upside, an immediate resistance is near the $215 level.
 If there is an upside break above $215, the price could continue to rise towards the $220 and $225 levels

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