Ethereum pricing analysis: ETH / USD reporting higher than $ 296


Main characteristics

  • The ETH price has recently traded towards the $ 303-305 level and was later corrected lower than the US dollar.
  • There is a bearish trend line with a resistance close to $ 295 on the hourly chart of Eth / USD (data feed via Kraken).
  • The pair remains well supported near the $ 288 level and the simple 100-hour moving average.

The price of Ethereum is positioned for an upward move against the US dollar and bitcoin. The ETH / USD remains well supported near the $ 285-288 zone.

Ethereum Price Resistance

Over the past three days, there have been decent bullish moves above $ 280 in the ETH price against the US dollar. The ETH / USD pair broke resistance levels $ 295 and $ 300 and reached a maximum of $ 302.64. Subsequently, buyers failed to keep the price above the $ 300 level, resulting in a downward correction. It fell below the Fib retracement level to 23.6% at the last leg, from $ 276 downwards to $ 302 at the top.

However, losses were protected near the support zone $ 285-288. The declared level was a resistance previously close to $ 288 and now prevents decline. The 50% Fibra retracement level of the last stage from the minimum of $ 276 to $ 302 is also at $ 289. In addition, the 100-hour moving average is positioned near the $ 288 level, signaling l & # 39; importance. Therefore, as long as the price is higher than the support of $ 285-288, it could increase. On the upside, there is a downtrend line formed with resistance close to $ 295 on the hourly chart of Eth / USD. A break above the trend line and $ 298 could clarify the path for further gains towards the $ 310 level.

 Price Analysis of Ethereum ETH USD

Looking at the chart, the price ETH is positioned well in a positive zone above the $ 288 level. However, buyers must earn more than $ 295 and $ 300 to push the price further towards $ 310.

MACD Schedule – The MACD it is currently flat in the bearish zone.

RSI timetable – The RSI is close to the 50 level.

Main support level – $ 274

Main resistance level – $ 284

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