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21 September 2018 15:16
Ether's price is moving higher and has stabilized above the key supports against the US dollar and bitcoin. ETH / USD broke the resistance of $ 215.00 and could test $ 250.00.
Key Points
Ether's price gained traction after breaking resistance from $ 215.00 and $ 220.00 against the US dollar.
ETH / USD broke a bearish trend line with resistance at $ 222.00 on the 12-hour chart.
ETH / BTC is moving towards resistance 0.0350BTC.
Technically, the 12-hour chart indicators are about to enter the bullish territory.
Analysis of the prices of the ether
There have been bullish moves higher than the $ 207.00 and $ 210.00 of support in the ETH / USD. The pair broke the key resistance at $ 215.00 and overcame the $ 220.00 barrier to move into a positive zone.
ETH / BTC rose slowly and steadily towards the 0.0340BTC level. It appears that the pair can continue to move to the next higher resistance at 0.0350BTC.
Starting with the 12-hour ETH / USD chart, the pair reached a significant low of $ 167.73. The pair started an upward move and surpassed the $ 200.00 barrier plus the Fibonacci retracement level to 23.65 from the low from $ 302.25 to $ 167.73 low.
More importantly, the pair has surpassed a bearish trend line with resistance to $ 222.00 on the same chart. These are all positive signs, but the price is approaching the next crucial resistance near $ 235.00.
The $ 235.00 level was a previous support and now represents the 50 Fibonacci retracement level of the move down. If the purchasers of Ether were able to overcome the resistance of $ 235.00, the price could test the resistance of $ 250.00.
The 2 hour chart of the ETH / USD suggests that the pair is positioned well in a bullish zone above $ 210.00 and $ 215.00 levels. The price of Ether canceled a major contract triangle at $ 215.00 and traded higher towards the $ 230.00 level.
If there is a short-term downward correction, it is likely that the previous resistance at $ 220.00 and $ 215.00 will maintain losses. Overall, Ether is in an upward trend and there are high chances of a push towards $ 250.00 in the short term.
Important Strength Levels
$ 235.00 and $ 250.00
Important Levels of Support
$ 220.00 and $ 215.00
RSI at 12 Hours
L & # 39; RSI is moving higher towards zone 55-60.
MACD at 12 hours
The MACD is slowly moving into 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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