Ethereum Price Analysis: ETH/USD Could Correct Towards $240

2018-9-7 09:00

Key Highlights ETH price found support near the $209 level and later corrected higher against the US Dollar. There was a break above a short-term bearish trend line with resistance at $226 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to extend the current correction towards the $238 and $240 resistances.

Ethereum price is slowly correcting higher against the US Dollar and bitcoin. ETH/USD could correct further higher towards the $240 resistance in the near term.

Ethereum Price Correction

Recently, there was a sharp decline in ETH price from the $288 swing high against the US Dollar. The ETH/USD pair declined below $250, 100 hourly simple moving average and $225. It traded as low as $209 and later, it started an upside correction and traded above the $215 level. There was a push above the 23.6% Fib retracement level of the last decline from the $283 swing high to $209 low.

Moreover, there was a break above a short-term bearish trend line with resistance at $226 on the hourly chart of ETH/USD. The price tested the $230 resistance where sellers emerged. It seems like the price could dip a few points towards the $220 level. On the downside, there is a connecting bullish trend line in place with support at $221. A break below the trend line could ignite fresh bearish moves towards $209 and $205 in the near term. On the other hand, if the price moves higher, it could test the $235 and $240 resistances. Above these, the 50% Fib retracement level of the last decline from the $283 swing high to $209 low is at 248.

Looking at the chart, ETH price is currently correcting higher towards $235-240. However, recoveries are likely to face many hurdles and it won’t be easy for buyers to push the price above $240 or $248.

Hourly MACD – The MACD is slowly moving in the bullish zone.

Hourly RSI – The RSI is currently above the 45 level.

Major Support Level – $220

Major Resistance Level – $240

The post Ethereum Price Analysis: ETH/USD Could Correct Towards $240 appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3100.3 (+0.05%)
Объем 24H $14.696b
Изменеия 24h: 4.69 %, 7d: 6.18 %
Cегодня L: $3088.33 - H: $3122.76
Капитализация $372.415b Rank 2
Цена в час новости $ 207.42 (1394.7%)

eth towards price usd 240 ethereum analysis

Источник: newsbtc.com

eth towards → Результатов: 37


Фото:

Market Update – BTC And ETH Crashing, XRP Finding Balance

Last weeks optimism has well and truly vanished. We start August on a very negative note. The markets are down, values are falling and overall, everything is a little bit disappointing. After almost two weeks of positive movements, we finally saw, for the first time in a number of months, various cryptocurrencies moving back up towards their April highs, back on the road to recovery.

2018-8-1 12:30


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Memecoin $PEPE Surges As Whales Accumulate Profits

The Ethereum memecoin $PEPE has seen a remarkable surge, hitting an all-time high of $0.00001127 today with a market cap surpassing $4.5 billion.  This represents a significant gain of over 11% for the day and 32% over the past 7 days, making it the second largest crypto memecoin in the […]