Ethereum price is showing positive signs above the ,300 level against the US Dollar. ETH price is now trading above ,300 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near ,365 on the 4-hours chart (data feed from Coinbase). The pair could rally further if it clears the ,365 resistance zone. Ethereum price is rising above the ,300 level against the US Dollar. ETH/USD could rise further if it clears the ,365 resistance zone. Ethereum Price Analysis This week, ethereum saw range moves above the ,260 level against the US Dollar. ETH price remained stable and started a slow increase from the 2 low. The price was able to climb above the ,300 level and the 55 simple moving average (4-hours). The
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- Ethereum price is showing positive signs above the $1,300 level against the US Dollar.
- ETH price is now trading above $1,300 and the 55 simple moving average (4-hours).
- There is a key bearish trend line forming with resistance near $1,365 on the 4-hours chart (data feed from Coinbase).
- The pair could rally further if it clears the $1,365 resistance zone.
Ethereum price is rising above the $1,300 level against the US Dollar. ETH/USD could rise further if it clears the $1,365 resistance zone.
Ethereum Price Analysis
This week, ethereum saw range moves above the $1,260 level against the US Dollar. ETH price remained stable and started a slow increase from the $262 low.
The price was able to climb above the $1,300 level and the 55 simple moving average (4-hours). The price cleared the 50% Fib retracement level of the downward move from the $1,373 swing high to $1,262 low. It is now trading nicely above the $1,320 level.
The price is now facing sellers near the $1,320 and $1,330 levels. An immediate resistance is near the $1,330 level. It is near the 61.8% Fib retracement level of the downward move from the $1,373 swing high to $1,262 low, above which the price could rise towards the $1,400 level.
There is also a key bearish trend line forming with resistance near $1,365 on the 4-hours chart. The next major resistance is near the $1,440 zone or $1,450. Any more gains could even send the price towards the $1,500 resistance zone in the near term.
On the downside, an initial support is near the $1,300 level and the 55 simple moving average (4-hours). The next major support is now near the $1,265 level. A break below the $1,265 support could push the price to $1,210. Any more losses could lead the price towards $1,150, below which there is a risk of a larger decline.
Ethereum Price
Looking at the chart, Ethereum price is clearly trading above the $1,300 zone and the 55 simple moving average (4-hours). Overall, ether price could rally further if it clears the $1,400 resistance zone.
Technical indicators
4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is now above the 50 level.
Key Support Levels – $1,325, followed by the $1,275 zone.
Key Resistance$ Levels – $1,400 and $1,500.