Ethereum price is eyeing an upside break above the ,265 resistance against the US Dollar. ETH price is now trading near ,250 and the 55 simple moving average (4 hours). There is a major bearish trend line forming with resistance near ,265 on the 4-hour chart (data feed from Coinbase). The pair could climb further if it stays above the ,150 support zone. Ethereum price is consolidating above the ,150 level against the US Dollar. ETH/USD could rise again if it clears the ,265 resistance zone. Ethereum Price Analysis In the past few days, Ethereum saw a short-term bearish wave from the ,400 zone against the US Dollar. ETH price declined below the ,250 level and the 55 simple moving average (4 hours). The bears even pushed the price below the ,200
Topics:
Aayush Jindal considers the following as important: Altcoin News, ETH, News, Trading
This could be interesting, too:
Tolu Ajiboye writes Crypto.com Officially Joins Adan Association for Crypto and Blockchain Development in France and Europe
Bena Ilyas writes Switzerland Cracks Down on Crypto Tax Evasion with Upcoming AEOI Expansion
Temitope Olatunji writes Binance Unveils Spot Copy Trading: Empowering Traders with Expert Strategies
Godfrey Benjamin writes Cardano Just Lost Top Project to Base L2: Details
- Ethereum price is eyeing an upside break above the $2,265 resistance against the US Dollar.
- ETH price is now trading near $2,250 and the 55 simple moving average (4 hours).
- There is a major bearish trend line forming with resistance near $2,265 on the 4-hour chart (data feed from Coinbase).
- The pair could climb further if it stays above the $2,150 support zone.
Ethereum price is consolidating above the $2,150 level against the US Dollar. ETH/USD could rise again if it clears the $2,265 resistance zone.
Ethereum Price Analysis
In the past few days, Ethereum saw a short-term bearish wave from the $2,400 zone against the US Dollar. ETH price declined below the $2,250 level and the 55 simple moving average (4 hours).
The bears even pushed the price below the $2,200 level. A low was formed near $2,127 and the price is now attempting a fresh increase. There was a move above the $2,180 resistance level. The price also broke the $2,000 resistance level.
There was a move above the 23.6% Fib retracement level of the key decline from the $2,403 swing high to the $2,127 low. However, it is still struggling near $2,265. There is also a major bearish trend line forming with resistance near $2,265 on the 4-hour chart.
Ethereum is now trading near $2,250 and the 55 simple moving average (4 hours). On the downside, initial support is near the $2,190 level.
The next major support is now near the $2,155 level. A break below the $2,155 support could push the price to $2,080. Any more losses could lead the price toward $2,000 or even $1,880 in the coming days.
Immediate resistance on the upside is near the $2,260 level or the trend line. It is close to the 50% Fib retracement level of the key decline from the $2,403 swing high to the $2,127 low. The next major resistance is near the $2,330 zone.
A clear move above the $2,330 level could send the price toward $2,450. Any more gains could even send the price toward the $2,550 resistance zone or $2,700 in the near term.
Looking at the chart, Ethereum price is clearly trading near the $2,250 zone and the 55 simple moving average (4 hours). Overall, Ether price could climb again if it stays above the $2,150 support 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 – $2,150, followed by the $2,080 zone.
Key Resistance$ Levels – $2,265 and $2,330.