Prediction of Ethereum prices: is this a false bullish break in ether?



The price of Ether was rejected near the resistance of $ 300.00 against the US dollar. The ETH / USD must remain above $ 282.00 and $ 280.00 to rise higher

Key Points

The ether has increased recently and has tested the resistance zone of $ 300.00 against the US dollar.

ETH / USD traded above a crucial bearish trendline on the 2-hour chart but failed to hold gains above $ 290.00.

ETH / BTC is slowly moving down and will probably test the 0.0415BTC support area.

Technically, the 2-hour chart indicators are currently near median lines in the bullish territory.

Analysis of the price of the ether

A decent support formed near the $ 269.00-270.00 area in ETH / USD was formed, resulting in a sharp upward movement. The ETH / USD rose above the resistance area of ​​$ 290.00, but buyers failed to overcome the $ 300.00 obstacle.

ETH / BTC was exchanged below the 0.0450BTC support and is currently negotiable in a range. It seems that the price may continue to fall towards the 0.0415BTC support.

  Ethereum Price ETH Analysis

Looking at the 2-hour chart of Eth / USD, the pair has exceeded the resistance levels $ 285.00 and $ 290.00. There was also a break above the Fibonacci retracement level of 38.2 percent of the last decline from $ 321.12 to a minimum of $ 269.41

More importantly, c & # 39; it was also a break above a downtrend at $ 289.00, but it was not a 2-hour closure. The price of Ether failed to exceed $ 295.00 and the Fibonacci 50% retracement level of the last decline.

A reverse model was formed near the $ 300.00 level and the price traded below the $ 290.00 level. Turning to the 30-minute ETH / USD table, the pair tested the broken resistance at $ 280.00-281.00.

  Ether Price Analysis ETH

There appears to be a confident trend line that is forming with current support at $ 284.00. If Ether goes up again, he will have to break the $ 270.00 and $ 295.00 resistance levels. The last major challenge for buyers is close to the $ 300.00 level.

On the other hand, the price must remain above the support area of ​​$ 280.00 to continue to rise. Otherwise, there is the risk of further losses for the support of $ 270.00

Major resistance levels

$ 290.00 and $ 300.00

Important support levels

$ 270 , 00 and $ 262.00

2-hour RSI

RSI is just above level 50.

2-hour MACD

The MACD is moving slowly 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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