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The price of Ethereum (ETH) has attempted a recovery towards the $ 280 mark, but failed to gather enough momentum to rise above $ 275. The value of the currency is struggling to gain traction against Bitcoin (BTC) and the United States dollar. The value of the digital currency could rise higher if buyers took control over the $ 285.
Ethereum (ETH) Price today – ETH / USD
At the time of writing, Ethereum (ETH) is trading at $ 274 after a decrease of about two percent in the last twenty-four hours. The digital currency currently has a market capitalization of $ 27.86 billion and its trade volume over the past twenty-four hours is $ 1.15 billion.
Ethereum Price Analysis (ETH)
Ethereum (ETH) formed a decent support near the $ 255 against the dollar sign. The digital currency subsequently corrected and exceeded the threshold of $ 280. There was also a pause on the 50% Fibonacci retracement level of the previous swing from the maximum of $ 301 to the minimum of $ 259. [19659006] However, the digital currency closed the upside at $ 282 as buyers failed to protect earnings. The digital currency also did not test the Fibonacci retracement level of 61.8 percent of the previous swing from the maximum of $ 301 to the minimum of $ 259.
These are negative signals and indicate the importance of hurdle near the $ 282 and $ 285 brands. Furthermore, there is a formation of a key bearish trendline with an obstacle to the $ 280 mark on the 4-hour chart of the currency.
The same trend line is currently holding gains and pushing the value of the currency to the $ 270 mark. If the value of the currency continues to decline, you can test the supports for $ 268 and $ 265. On the upside, a break and closing on $ 282 and $ 285 could pave the way for further gains and push the coin to the 100-hour SMA.
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