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Ether's price extended its gains against the US dollar and recovered slightly from bitcoins. ETH / USD is currently suspended at more than $ 300.00.
Key Points
The ether traded higher and tested the $ 297.00 resistance recently against the US dollar.
ETH / USD is placed above $ 292.00 and $ 282.00 support levels.
ETH / BTC is slowly recovering towards the resistance level 0.0420BTC.
Technically, the 2-hour chart indicators are increasing in bullish territory.
Analysis of the prices of the ether
Yesterday, we discussed ETH / USD could slowly rise towards resistance levels $ 300.00 and $ 305.00. The pair did higher, but the gains were limited by a crucial technical level to $ 297.00.
ETH / BTC remained above the 0.0400BTC support area and subsequently started an upward correction. The pair is recovering and could test resistance levels of 0.0420BTC and 0.0425BTC in the short term.
Looking at the 2-hour chart of Eth / USD, the pair has positioned above the $ 280.00 and $ 282.00 support levels. Climbs higher, broke the resistance of $ 290.00 and tested a key resistance at $ 297.00 and the Fibonacci retracement level to 61.8% of the decline from $ 321.12 to $ 259.56 low.
A short-term peak was formed at $ 297.73, and later the lower correct price. However, the downturns were limited and Ether remained above the $ 290.00 level (transformed resistance support).
On the downside there is an important support formed close to $ 282.00 and a bullish trendline on the same chart. If the price of Ether does not contain the $ 282.00 support, it could slip to the $ 270.00 support and the rotation level.
Going down to the 30-minute chart of the ETH / USD, the pair is clearly following a bullish trail above the $ 290.00 level. There appears to be a short-term breakout model, with support for $ 292.00 and resistance close to $ 297.00.
The price is likely to make the next move above the resistance $ 297.00 and accelerate above the $ 300.00 level. That said, Ether buyers may find a strong obstacle near the $ 305.00 level.
On the downside, a downside break below $ 292.00 could initiate an extended downward correction towards the $ 282.00 and $ 280.00 supports.
Important Strength Levels [19659019] $ 297.00 and $ 300.00
Important Support Levels
$ 292.00 and $ 282.00
2-Hour RSI
L & # 39; RSI is currently well above level 55.
MACD at 2 hours
The MACD is gaining momentum in 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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