Ethereum Price Weekly Forecast: ETH Preparing For Next Key Break

2019-7-7 07:08

ETH price stayed above the $270-275 support and recently recovered higher against the US Dollar. Bitcoin price is currently trading above $11,000, but it is struggling to gain bullish momentum. There is a key breakout pattern forming with resistance near $295 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair could either surpass $295 and $300 or it could extend losses below the $280 and $275 supports.

Ethereum price is likely preparing for the next move against the US Dollar, similar to bitcoin. ETH might climb high sharply once it clears the $295 and $300 resistance levels.

Ethereum Price Weekly Analysis

This past week, Ethereum price retested the $270-275 support area against the US Dollar. The ETH/USD pair remained stable above $270 and formed a swing low near the $272 level. Later, there was an upside correction above the $280 and $290 resistance levels. Moreover, the price also climbed above the $300 resistance level and the 100 simple moving average (4-hours).

The price even surpassed the 50% Fib retracement level of the downward move from the $324 high to $272 low. However, the price struggled to stay above the $300 support level. It was rejected near the 61.8% Fib retracement level of the downward move from the $324 high to $272 low. Later, there was a minor downside reaction below the $295 support level.

Besides, the price is currently trading below the $295 level and the 100 simple moving average (4-hours). At the outset, there is a key breakout pattern forming with resistance near $295 on the 4-hours chart of ETH/USD. If there is an upside break above the $295 and $300 resistance levels, Ethereum price could continue to accelerate higher in the near term. The next stop for the bulls could be $305, followed by $320.

Conversely, if there is no upside break above $300, the price could decline below the $285 support level. If there is a downside break, there could be sharp losses below the $280 and $275 levels. In the mentioned case, the price may even slide below the $270 support area.

The above chart indicates that Ethereum price is preparing for the next key break either above the $300 barrier or below the $280 support area. Having said that, a clear break below the $270 support area won’t be easy in the coming sessions, whereas a close above $300 might accelerate gains.

Technical Indicators

4 hours MACD – The MACD for ETH/USD is slowly moving back in the bearish zone.

4 hours RSI – The RSI for ETH/USD is currently below the 50 level, with a few negative signs.

Major Support Level – $275

Major Resistance Level – $300

The post Ethereum Price Weekly Forecast: ETH Preparing For Next Key Break appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3255.31 (-0.89%)
Объем 24H $25.016b
Изменеия 24h: -3.33 %, 7d: -16.56 %
Cегодня L: $3226.56 - H: $3393.89
Капитализация $392.12b Rank 2
Цена в час новости $ 311.51 (945.01%)

price eth key break ethereum above forecast

price eth → Результатов: 126


Ethereum Netflow Spikes To Derivatives Markets – Is a Price Swing on the Horizon?

Ethereum (ETH) has experienced a lackluster phase in recent weeks, with the asset seeing small price surges but still struggling to hold near or above the $3,000 mark after a brief rally in August. According to a recent analysis from a CryptoQuant analyst, the behind the scenes of this price struggle for ETH has been quite interesting, with the asset seeing a significant shift in its netflow.

2024-10-26 11:30


Is This Ethereum ICO Project To Blame For ETH’s Price Slump?

The Ethereum price has fallen by around -25% since its mid-March peak at around $4,100 and is currently trading just above $3,000. While this loss is in line with the broader market trend and in particular Bitcoin’s price drop of about -22% in the same time, there could be another reason for ETH’s price slump, which seems plausible since the German government only sells BTC and not ETH, and Mt.

2024-7-9 19:00


Фото:

ETH’s post-Shapella price outlook: sells outpace buys ahead of Binance withdrawals

Ethereum (ETH) price raced to an 11-month high above $2,142 on Coinbase exchange on Sunday, the major price rally for ETH coming after the cryptocurrency’s successful Shapella upgrade. But what is the latest for Ethereum after it rose despite the sell pressure that followed enabling withdrawals for staked Ether? Kaiko, a leading institutional grade crypto […] The post ETH’s post-Shapella price outlook: sells outpace buys ahead of Binance withdrawals appeared first on Invezz.

2023-4-19 23:44