Key Key Aspects
- The ETH price traded higher but did not hold gains above $ 300 against the US dollar.
- C & # 39; is a bearish trend line that limits gains with the current resistance at $ 299 on the hourly chart of Eth / USD (data feed via Kraken).
- The pair could plunge some points and could test the support levels $ 273 and $ 271.
The price of Ethereum failed to contain gains against the US dollar and bitcoin. ETH / USD buyers failed to release a strong sales area close to $ 300 and 100-hour SMA
Ethereum price resistance
Yesterday, there was a correction short-term above the $ 260 level in the ETH price against the US dollar. The ETH / USD pair traded above $ 275 and $ 285 to gain traction. There was also a break above the 50% Fibra retracement level of the last downward movement from $ 332 upwards to $ 249 below. The price rose above the $ 300 level, but failed to exceed the 100-hour moving average.
More importantly, a bearish trend line has limited gains with the current resistance at $ 299 on the hourly chart of Eth / USD. The couple refused and broke the $ 295 and $ 292 levels. It also broke the fiber retracement level of 23.6% of the last wave, from $ 249 down to $ 305 up. On the downside, initial support is close to the $ 277 level. It represents the 50% retracement level of Fibers from the last wave, from $ 249 down to $ 305 up. Below this, the price could test the support levels $ 273 and $ 271.
Looking at the chart, the ETH price shows some positive signs over $ 273, but has to overcome the obstacle of $ 300. In addition, buyers must push the price above the recent maximum to $ 305 and the SMA to 100 hours to get traction.
MACD timetable – The MACD is back in the bearish zone.
RSI timetable – The RSI is back again below the 50 level.
Main support level – $ 271
Level of main resistance – $ 299