Etereum Price Forecast: Ether Climbing Towards $ 300-305 Resistance


Ether's price is steadily rising against the US dollar as it fights against bitcoins. ETH / USD is likely to test the resistance zone from $ 300.00-305.00 in the short term.

Key Points

Ether rose higher and broke the resistance from $ 280.00 and $ 285.00 against the US dollar.

ETH / USD passed a major bearish trendline with resistance at $ 272.00 on the 4-hour chart.

ETH / BTC is struggling to stay above the 0.0400BTC support area.

Technically, the 4-hour chart indicators have just moved into bullish territory. [19659007] Analysis of the prices of the ether

Yesterday we discussed the fact that the rises are favored in the ETH / USD once the resistance of $ 280.00 is exceeded. The pair has grown in the last two sessions and broke the resistance from $ 280.00 and $ 285.00.

On the other hand, there was a new bearish wave in ETH / BTC below the 0.0415BTC level. The pair is currently trading above the 0.0400BTC support and remains at risk of further decreases. The price of the bitcoin has moved above the resistance of $ 7,000.00 today, increasing sales pressures on ETH / BTC.

  Chart of the analysis of the price of the ether

Starting from the 30-minute chart of the ETH / USD, the pair has consolidated above the support of $ 275.00 for a few hours and later it rose higher. During the rise, the price broke the $ 280.00 and $ 285.00 resistance levels to move into a short-term uptrend zone.

Next, there was a small correction, but the price of Ether regained traction and broke a bearish trend line with resistance at $ 286.00 to trade towards $ 290.00. The price is currently positioned above a bullish trendline with support for $ 287.00.

If Ether were to fall below the trendline and support of $ 285.00, it could test the support area of ​​$ 278.00-280.00. The most important support on the 30-minute chart is $ 275.00, followed by the $ 270.00 support base on the 4-hour chart of Eth / USD.

  Price Analysis of Ethereum ETH

The current price on the 4-hour chart is positive, but Ether buyers are facing many upside challenges near the $ 300.00 handle. An initial resistance is close to $ 297.00 and the Fibonacci retracement level to 61.8% of the decline from $ 321.12 to $ 259.56 low.

In addition, there is a strong barrier near the $ 300.00-305.00 area, which has acted as support and resistance on many occasions. Therefore, a break above $ 300.00 and $ 305.00 will not be easy. The short-term technical structure is bullish with the possibility of pushing towards $ 297.00 and $ 300.00.

Major Strength Levels

$ 297.00 and $ 300.00

Important Support Levels

$ 285.00 and $ 280.00

4-Hour RSI [19659018] L & # 39; RSI is about to cross the 50 level.

4-hour MACD

The MACD has entered the bullish zone.

Aayush spent over seven years as a contributor and observer of the financial markets. He specialized in market strategies and technical analysis. It strives to provide entertaining and informative analyzes on the currency and commodity markets. He is a software engineer by profession and loves blogs.

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