Ethereum price is gaining pace above the ,250 level against the US Dollar. ETH price is now trading above ,250 and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near ,300 on the 4-hours chart (data feed from Coinbase). The pair could climb further if it clears the ,350 resistance zone. Ethereum price is rising above the ,250 level against the US Dollar. ETH/USD could rise further if it clears the ,350 resistance zone. Ethereum Price Analysis In the past few days, ethereum saw a decent increase above the ,220 level against the US Dollar. ETH price was able to gain pace for a move above the ,250 level and the 55 simple moving average (4-hours). The bulls even cleared the ,300 resistance zone. The price
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- Ethereum price is gaining pace above the $1,250 level against the US Dollar.
- ETH price is now trading above $1,250 and the 55 simple moving average (4-hours).
- There is a key bullish trend line forming with support near $1,300 on the 4-hours chart (data feed from Coinbase).
- The pair could climb further if it clears the $1,350 resistance zone.
Ethereum price is rising above the $1,250 level against the US Dollar. ETH/USD could rise further if it clears the $1,350 resistance zone.
Ethereum Price Analysis
In the past few days, ethereum saw a decent increase above the $1,220 level against the US Dollar. ETH price was able to gain pace for a move above the $1,250 level and the 55 simple moving average (4-hours).
The bulls even cleared the $1,300 resistance zone. The price even spiked above the $1,320 level and formed a high near the $1,345 level. ETH is now consolidating gains above the $1,300 level. It is consolidating near the 23.6% Fib retracement level of the upward move from the $1,234 swing low to $1,345 high.
It is now trading above $1,250 and the 55 simple moving average (4-hours). An immediate resistance on the upside is near the $1,340 level. The next major resistance is near the $1,350 zone.
Any more gains could even send the price towards the $1,350 resistance zone in the near term. On the downside, an initial support is near the $1,310 level.
The next major support is now near the $1,300 level. There is also a key bullish trend line forming with support near $1,300 on the 4-hours chart. The main support is near the $1,290 level or the 50% Fib retracement level of the upward move from the $1,234 swing low to $1,345 high.
A break below the $1,290 support could push the price to $1,250. Any more losses could lead the price towards $1,210 or even $1,200 in the coming days.
Ethereum Price
Looking at the chart, Ethereum price is clearly trading above the $1,250 zone and the 55 simple moving average (4-hours). Overall, ether price could climb further if it clears the $1,350 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 – $1,300, followed by the $1,290 zone.
Key Resistance$ Levels – $1,340 and $1,350.