Ethereum price started a decent increase above the ,300 level against the US Dollar. ETH price is now trading above ,300 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near ,310 on the 4-hours chart (data feed from Coinbase). The pair could rally further if it clears the ,400 resistance zone. Ethereum price is rising above the ,300 level against the US Dollar. ETH/USD could rise further if it clears the ,400 resistance zone. Ethereum Price Analysis This week, ethereum saw a fresh increase from the ,200 zone against the US Dollar. ETH price was able to clear the ,280 and ,300 resistance levels to move into a positive zone. The price even jumped above the ,320 level and the 55 simple
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- Ethereum price started a decent increase 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 was a break above a major bearish trend line with resistance near $1,310 on the 4-hours chart (data feed from Coinbase).
- The pair could rally further if it clears the $1,400 resistance zone.
Ethereum price is rising above the $1,300 level against the US Dollar. ETH/USD could rise further if it clears the $1,400 resistance zone.
Ethereum Price Analysis
This week, ethereum saw a fresh increase from the $1,200 zone against the US Dollar. ETH price was able to clear the $1,280 and $1,300 resistance levels to move into a positive zone.
The price even jumped above the $1,320 level and the 55 simple moving average (4-hours). There was also a break above a major bearish trend line with resistance near $1,310 on the 4-hours chart. The price even cleared the 23.6% Fib retracement level of the downward move from the $1,789 swing high to $1,220 low.
The price is now facing sellers near the $1,390 and $1,400 levels. An immediate resistance is near the $1,400 level, above which the price could rise towards the $1,500 level.
It is near the 50% Fib retracement level of the downward move from the $1,789 swing high to $1,220 low. The next major resistance is near the $1,570 zone or $1,600.
Any more gains could even send the price towards the $1.800 resistance zone. On the downside, an initial support is near the $1,355 level. The next major support is now near the $1,325 level and the 55 simple moving average (4-hours).
A break below the $1,325 support could push the price to $1,300. Any more losses could lead the price towards $1,270, 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.