Advertisement
Home News Ethereum Price Ethereum (ETH) More Upward Movement: Can The Bulls Do This?

Price Ethereum (ETH) More Upward Movement: Can The Bulls Do This?

-

  • The price of ETH has begun steady growth above resistance levels of 158 and 160 dollars against the US dollar.
  • The price is trading above $ 165 and recently corrected below $ 165.
  • On the 4-hour ETH / USD chart (data feed from Kraken), there is a serious contract triangle with resistance around $ 167.
  • It is likely that the pair will soon rise above the level of 170 or even 180 dollars.

The price of Ethereum remains in a decent uptrend against the US dollar, but in a downward trend against bitcoins. ETH is struggling to follow BTC growth, but may soon rise higher.

Weekly price analysis of Ethereum

Last week, the price of Ethereum formed a decent support base above $ 150 against the US dollar. The ETH / USD pair began an upward movement after the bitcoin price began a strong increase above $ 5,500. There was a strong wave above the resistance levels of $ 155 and $ 156. The price even surpassed the level of $ 160 and set above a simple moving average of 100 (4 hours). Bulls pushed the price to the level of $ 170, where sellers appeared.

As a result, there was a downward correction below 166 and 165 dollars. The 50% Fibonacci retracement of the last wave from the minimum of $ 154 was broken through. To a maximum of $ 169. The price of the air tested the support area of ​​$ 158-160, where the bulls protected more losses. It seems that the Fibonacci retracement level of 76.4% of the last wave from the minimum of $ 154 made a support. To a maximum of $ 169. More importantly, the price is still above $ 160 and 100 simple moving averages (4 hours).

On the 4-hour ETH / USD chart, there is also a large contract triangle with resistance of about $ 167. If there is a breakthrough up above the levels of 165 and 166 dollars, the price will most likely rise to the levels of 169 and 170 dollars. Above the high of $ 170, the price is likely to rise to $ 180. On the other hand, if there is a breakthrough down support level below 158 dollars, the price may start another fall to 150 dollars.

 

 

 

 

 

 

 

The diagram above shows that Ethereum is trading above several important supports around $ 158. In addition, as long as the price is above 100 SMA, the chances of a breakthrough are higher than 170 and 172 dollars. The main target for bulls may be $ 180, where sellers are likely to defend the move to a level of $ 200.

Technical Indicators

4 hours MACD – MACD for ETH / USD is currently moving slowly in a bearish zone.

4 hours RSI – RSI for ETH / USD has recently risen above level 50 with a positive angle.

Main support level – $ 158

Primary resistance level – $ 166

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

Loading...
Coinworldstory
Coinworldstory.com Provide Latest Review From , ICO, Hyip, Bitcoin , Paid To Click , Blockchain Technology, Affiliate Marketing, Mlm, Etc .Our Team Expert In This Field And Provide Latest Information To Our Users. Thanks For Visiting Coinworldstory.com

PRESS RELEASE

Flyp.me implements Monero’s sub-addresses

Flyp.me implements Monero's sub-addresses in crypto to crypto exchange Flyp.me, the leading crypto to crypto exchange without the need to register an account was first...

Nodis, The Gamified Platform For Online Marketing And Influencers

The NODIS platform and the Challenge program The platform proposed as a solution to the mismatches and difficulties in the social network market by NODIS...

XCrypt: An Exciting Future-Proof Crypto Exchange Taking The IEO Route

XCrypt, a full-fledged hybrid crypto exchange platform, is gearing up for its highly anticipated token sale on the 24th of May. The platform is...
- Advertisment -
#NamePriceChanges 24H Volume 24H
HashFlare
Changer.com - Instant Exchanger