Ether's price gained bullish momentum and traded higher against the US dollar and bitcoin. The ETH / USD rose above $ 300.00 and could continue to rise towards $ 330.00.
Ether eventually broke the $ 300.00-306.00 area against the US dollar.
The 6-hour chart of the ETH / USD is
ETH / BTC also gained momentum and tested the 0.0475BTC resistance.
Technically, the hourly graphic indicators are positioned well in the bullish territory.
Analysis of the prices of the ether
19659008] This week we discussed a major resistance zone close to $ 300.00 and $ 306.00 for ETH / USD. Finally, the pair made a nice upward move above $ 306.00 and traded towards the $ 320.00 level.
In addition, there were more ETH / BTC earnings above the 0.0460BTC level. The torque eliminated the 0.0475BTC resistance, opening the doors for a push towards the 0.0490BTC and 0.0500BTC resistors.
Looking at the hourly chart of Eth / USD, the pair formed a solid support close to $ 280.00 and started an upward move. The pair struggled a couple of times near the resistance area of $ 300.00-306.00, but Ether's buyers finally got the upper hand.
The price has moved higher and traded at $ 321.12 before correcting below. He refused a few points and negotiated towards the broken resistance near $ 305.00-306.00, which worked as support.
There is also an uptrend line formed with support for $ 304.00 and the Fibonacci retracement level of 38.2 percent of the recent wave from $ 276.86 low to $ 321.12 high. The most important support is $ 300.00 and the Fibonacci retracement level of 50%.
Turning to the 6-hour chart of Eth / USD, the pair is showing positive signs with a close above $ 300.00. It seems that the price of Ether could continue to rise towards the resistance of $ 330.00. Beyond this, the next significant obstacle for buyers is $ 350.00 (the previous crucial support).
On the downside, there is a fundamental uptrend line that is formed from the lows with support for $ 298.00. Overall, the current price action suggests a positive technical structure above the $ 300.00 and $ 298.00 support on both the hourly and six-hour chart of the Ethics / USD.
Major resistance levels
$ 320.00 and $ 330.00
Important support levels
$ 306.00 and $ 300.00
L & # 39; RSI is now well above level 60 with positive signs.
The MACD is heavily placed 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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