Price Analysis of Ethereum: ETH / USD could be corrected to $ 285-286


Key Key Aspects

  • The ETH price was traded above the $ 290 level and almost tested the $ 300 resistance against the US dollar.
  • This is a rising channel with support for $ 291 on the hourly chart of Eth / USD (feed data via Kraken).
  • Probably the pair will bribe lower in the short term towards the $ 286 or $ 285 support.

The price of Ethereum moves nicely above $ 285 against the US dollar, but remained bearish against bitcoin. The ETH / USD could very well go down to $ 285 before resuming the rises.

Price trend of Ethereum

There was a slow and steady increase in the ETH price from the low of $ 274 lower against the US dollar. The pair ETH / USD traded higher and broke resistance levels $ 285 and $ 290. There was also a close above the $ 285 level and a simple 100-hour moving average. The price rose higher and almost tested the $ 300 resistance zone. A high was formed at $ 298.31 and the price is currently running lower.

He is currently testing the Fibra retracement level of 23.6% of his recent leg from the low of $ 274 to $ 298 high. More importantly, it is a rising channel with support for $ 291 on the ETH / USD time chart. If there is an interruption below channel support, the price could test the support of $ 286. It represents the 50% Fibra retracement level of the recent leg from the minimum of $ 274 to $ 298 high. In addition, the $ 285 level is also a decent support for shoppers in the short term

 Price Analysis of Ethereum ETH USD

Looking at the chart, the ETH price is positioned well above the area $ 285-286. If it bounces off the channel support, it may retest the maximum of $ 298. Above the maximum, the price is likely to break the resistance of $ 300 for a new intraday maximum. On the downside, under $ 291, the $ 285 and $ 286 levels are important supports

MACD schedule – The MACD is slightly positioned in the bullish zone.

RSI timetable – The RSI is currently correcting to level 55.

Major Support Level – $ 286

Major Resistance Level – $ 298

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