- The ETH price gained traction and moved above the resistance of $ 230 against the US dollar.
- C & # 39; is a monstrous uptrend line with $ 221 support on the ETH / USD time chart (data feed via Kraken).
- The pair may continue to move higher if the $ 221 and $ 223 supports are intact.
The price of Ethereum is showing bullish signals against the US dollar and bitcoin. ETH / USD is facing resistance close to levels of $ 236 and $ 238.
Price analysis of Ethereum
During the last hours, there have been bullish moves above $ 220 in the ETH price compared to the US dollar. The ETH / USD pair traded higher and broke resistance levels $ 226 and $ 230. It was also a peak above the $ 236 level and the price stabilized above the simple moving average of 100 hours. A high was formed at $ 239.31 and subsequently the price was corrected lower. It fell below the Fib retracement level of 23.6% for the last leg, from $ 213 down to $ 239 up.
However, declines have been protected from the $ 224 level and the 100-hour SMA. Furthermore, there was no closure below the 50% Fibra retracement level of the last leg, from $ 213 down to $ 239 up. Below $ 226, the next key support is around the $ 223 level and the Fib 61.8% retracement level. More importantly, there is an uptrend line in place with support for $ 221 on the ETH / USD time chart. As long as the price is above the trend line, it remains supported for further gains above the $ 236 level. A break above $ 239 will likely require a surge to the $ 250 level.
Looking at the chart, the ETH price shows positive signs above $ 223 and $ 221. Below these, the price may perhaps revisit the minimum swing of $ 213 in the short term.
MACD time – The MACD is about to enter the bullish zone.
RSI timetable – The RSI is currently above level 50.
Main support level: $ 221
Main resistance level: $ 236