top of page

#Ethereum Price Weekly Analysis: #ETH/USD Grinding Toward $314

Ethereum (ETH)

There was a decent support base formed near the $270 zone in ETH price against the US Dollar. The ETH/USD pair started an upward move and traded above the $280 and $290 resistance levels. The upside was cleared after the price broke the 61.8% fib retracement level of the last decline from the $297 high to $270 low. The price gained traction and settled above the $290 level plus the 100 simple moving average (4-hours). It is currently consolidating near the $300 level. On the downside, there is a crucial bullish trend line formed with support at $290 on the 4-hours chart of ETH/USD. Above the trend line support, the 100 SMA is positioned near the $292 level. Therefore, dips in ETH remains supported near the $292 and $290 levels. On the upside, the price may soon test the 1.236 Fib extension level of the last decline from the $297 high to $270 low at $304.08 level. Above this, the next target for buyers could be the $314 level, which is the 1.618 Fib extension level of the last decline.


Featured Posts
Recent Posts

Beginner's Bitcoin Buying Guide

Learn how to buy

bitcoin with this free step by step guide for  beginners.

Click here to read

bottom of page