HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

Ethereum Breaking This Single Level Could Spark a Surge To $300

Altcoins 2020/05/31 08:48 by Aayush Jindal
Ethereum is up more than 5% today and it is trading above the $235 level against the US Dollar. ETH price is likely to surge towards the $285-$300 if it clears the $248 resistance zone. Ethereum is surging and it recently broke the $220 and $230 resistance levels. The price is now trading well above the $220 pivot level and the 100-day simple moving average. There was a break above a crucial bearish trend line with resistance near $208 on the daily chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher towards the $285 if it clears the $248 hurdle. Ethereum Price Is Signaling More Gains In the past few days, there was a strong rise in Ethereum above the $205 resistance against the US Dollar. ETH price even outperformed bitcoin and gained more than 10% in the past few sessions. During the rise, there was a break above the 61.8% Fib retracement level of the main decline from the $288 swing high to $90 swing low. The bulls took over the market and they were able to push the price above the $200-$205 resistance zone. The price is now trading well above the $220 pivot level and the 100-day simple moving average. More importantly, there was a break above a crucial bearish trend line with resistance near $208 on the daily chart of ETH/USD. Ethereum Price The pair is now testing a significant resistance zone near the $248 and $250 levels (the breakdown zone formed in Feb 2020). It is also close to the 76.4% Fib retracement level of the main decline from the $288 swing high to $90 swing low. If Ether breaks the $248 and $250 resistance levels, it could easily continue higher above the $260 and $270 levels. The next key resistance is near the $300 level (a multi-touch zone). If the bulls succeed in clearing the $300 barrier, the price could surge towards the $320 and $330 levels. Dips Supported in ETH If Ethereum fails to clear the $248 resistance level, there could be a short term downside correction. An initial support is near the $225 and $220 levels. The first major support is now near the $205 level and the broken bearish trend line. Any further losses may perhaps lead the price towards the $190 zone and the 100-day simple moving average. Technical Indicators Daily MACD – The MACD for ETH/USD is slowly losing momentum in the bullish zone. Daily RSI – The RSI for ETH/USD is currently correcting lower from the 70 level. Major Support Level – $220 Major Resistance Level – $248 Take advantage of the trading opportunities with Plus500 Risk disclaimer: 76.4% of retail CFD accounts lose money.

0 Like(s)



You should also read...

Altcoins 29/03/20 06:18 by Aayush Jindal
Ethereum Is In Downtrend But This Variable Can Trigger A New Rally
Ethereum failed to clear the $142 resistance and started a fresh decline against the US Dollar, similar to bitcoin. ETH price could soon test the main $120 support area, where the bulls might emerge. ...
Read More
Altcoins 30/04/20 06:48 by Aayush Jindal
Ethereum Rally Seems Unstoppable: Here’s Why It Could Test $250
Ethereum is up more than 12% and it broke the $220 resistance against the US Dollar. ETH price is likely to continue higher and it could even test the $240 and $250 levels. Ethereum is surging and it...
Read More
Mining 17/05/20 08:58 by Aayush Jindal
Ethereum Lacks Momentum Above $200 But An Upsurge Seems Imminent
Ethereum is trading above the $192 and $195 support levels against the US Dollar. ETH price could start a strong surge if there is a clear break above the $205 resistance. ETH price is trading just b...
Read More
Altcoins 28/06/20 08:48 by Aayush Jindal
Ethereum Is Plunging and Its Vulnerable For A Drop To $200
Ethereum is declining and trading below the $225 support against the US Dollar. ETH price remains at a risk of more losses and it might revisit the $200 support. ETH price is showing bearish signs an...
Read More
Altcoins 30/09/20 07:48 by Aayush Jindal
Ethereum Bears Hold Strong At $360: Indicators Show Risk of Downside Break
Ethereum is struggling to clear the $360 and $365 resistance levels against the US Dollar. ETH price is showing bearish signs and it could dive below $350 and $345. Ethereum is still facing a heavy r...
Read More