Ethereum (ETH) Price Holding Gains: Key Resistances Nearby
ETH price recovered nicely after declining towards the $240 support area against the US Dollar.
The price traded above the $270 level, but it seems to be struggling near $278 and $280.
There is a short term breakout pattern forming with resistance near $270 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair remains well supported on dips as long as there is no close below the $250 support area. Ethereum price jumped back after correcting sharply versus the US Dollar, similar to bitcoin. ETH must gain momentum above $270 and $280 to continue higher.
Ethereum Price Weekly Analysis This past week, Ethereum price remained in a positive zone and traded above the $270 level against the US Dollar.
The ETH/USD pair even broke the $280 level and settled above the 100 simple moving average (4-hours).
The price traded as high as $289.01 before it corrected lower significantly. There was a downside break below the $264 and $250 support levels.
The price even tested the $240 support and spiked below the 100 simple moving average (4-hours). However, there was no close below the 100 simple moving average (4-hours) and the price recovered above the $250 level.
There was a break above the $260 level, and the 50% Fib retracement level of the last decline from the $289 swing high to $239 swing low.
The bulls managed to push the price above the $270 level, but it seems to be struggling near the $278 and $280 levels.
The 76.4% Fib retracement level of the last decline from the $289 swing high to $239 swing low is also acting as a hurdle for the bulls.
At the moment, there is a short term breakout pattern forming with resistance near $270 on the 4-hours chart of ETH/USD.
If there is an upside break above the triangle resistance, the price could move above $275.
However, the price must gain pace above the $280 level to continue higher. On the downside, if the price breaks the $260 support, it could decline again.
The main support is near the $250 level and the 100 SMA. If there is a close below the 100 SMA, the price might decline below $240.
The above chart indicates that Ethereum seems to be consolidating in a tiny range above the $260 support area. To start a fresh increase, the price must break $270 and $280. The next main hurdle for the bulls is near the $300 level.
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The price traded above the $270 level, but it seems to be struggling near $278 and $280.
There is a short term breakout pattern forming with resistance near $270 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair remains well supported on dips as long as there is no close below the $250 support area. Ethereum price jumped back after correcting sharply versus the US Dollar, similar to bitcoin. ETH must gain momentum above $270 and $280 to continue higher.
Ethereum Price Weekly Analysis This past week, Ethereum price remained in a positive zone and traded above the $270 level against the US Dollar.
The ETH/USD pair even broke the $280 level and settled above the 100 simple moving average (4-hours).
The price traded as high as $289.01 before it corrected lower significantly. There was a downside break below the $264 and $250 support levels.
The price even tested the $240 support and spiked below the 100 simple moving average (4-hours). However, there was no close below the 100 simple moving average (4-hours) and the price recovered above the $250 level.
There was a break above the $260 level, and the 50% Fib retracement level of the last decline from the $289 swing high to $239 swing low.
The bulls managed to push the price above the $270 level, but it seems to be struggling near the $278 and $280 levels.
The 76.4% Fib retracement level of the last decline from the $289 swing high to $239 swing low is also acting as a hurdle for the bulls.
At the moment, there is a short term breakout pattern forming with resistance near $270 on the 4-hours chart of ETH/USD.
If there is an upside break above the triangle resistance, the price could move above $275.
However, the price must gain pace above the $280 level to continue higher. On the downside, if the price breaks the $260 support, it could decline again.
The main support is near the $250 level and the 100 SMA. If there is a close below the 100 SMA, the price might decline below $240.
The above chart indicates that Ethereum seems to be consolidating in a tiny range above the $260 support area. To start a fresh increase, the price must break $270 and $280. The next main hurdle for the bulls is near the $300 level.
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Twitter: https://twitter.com/cryptoexpert20
IF you be an admin for your telegram group you can order from the link
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