Ethereum price is gaining pace above the ,300 level against the US Dollar. ETH price is now trading above ,320 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near ,320 on the 4-hours chart (data feed from Coinbase). The pair could climb further if it clears the ,370 resistance zone. Ethereum price is rising above the ,320 level against the US Dollar. ETH/USD could rise further if it clears the ,370 resistance zone. Ethereum Price Analysis This past week, ethereum saw a fresh decline below the ,300 level against the US Dollar. ETH price even declined below the ,280 support level and the 55 simple moving average (4-hours). It traded as low as ,254 before the bulls appeared. Recently, the
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- Ethereum price is gaining pace above the $1,300 level against the US Dollar.
- ETH price is now trading above $1,320 and the 55 simple moving average (4-hours).
- There was a break above a major bearish trend line with resistance near $1,320 on the 4-hours chart (data feed from Coinbase).
- The pair could climb further if it clears the $1,370 resistance zone.
Ethereum price is rising above the $1,320 level against the US Dollar. ETH/USD could rise further if it clears the $1,370 resistance zone.
Ethereum Price Analysis
This past week, ethereum saw a fresh decline below the $1,300 level against the US Dollar. ETH price even declined below the $1,280 support level and the 55 simple moving average (4-hours).
It traded as low as $1,254 before the bulls appeared. Recently, the price started a fresh increase above the $1,300 resistance zone. There was a break above a major bearish trend line with resistance near $1,320 on the 4-hours chart.
The price is now trading above $1,320 and the 55 simple moving average (4-hours). It even cleared the $1,350 level and traded as high as $1,370.
The price is now consolidating gains near the 23.6% Fib retracement level of the upward move from the $1,254 swing low to $1,370 high. It is now facing sellers near the $1,360 and $1,370 levels. The next major resistance is near the $1,400 zone.
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 $1,320 level and the 55 simple moving average (4-hours).
The next major support is now near the $1,300 level. It is close to the 50% Fib retracement level of the upward move from the $1,254 swing low to $1,370 high. A break below the $1,300 support could push the price to $1,250. Any more losses could lead the price towards $1,200, below which there is a risk of a larger decline in the coming days.
Ethereum Price
Looking at the chart, Ethereum price is clearly trading above the $1,320 zone and the 55 simple moving average (4-hours). Overall, ether price could climb further if it clears the $1,370 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 – $1,320, followed by the $1,300 zone.
Key Resistance$ Levels – $1,370 and $1,400.