Ethereum Price Technical Analysis – ETH/USD Testing Important Support

Key Highlights

  • ETH price is currently testing an important support near $278-276 against the US Dollar.
  • There is a new declining channel pattern with support near $276 forming on the hourly chart of ETH/USD (data feed via SimpleFX).
  • There is also a bullish trend line with support around $276, which points importance of the mentioned level.

Ethereum price is showing minor bearish signs against the US Dollar and Bitcoin. ETH/USD is currently approaching a major support near the $278-276 levels.

Ethereum Price Support

It seems like sellers are not giving up as there was no upside move in ETH price above $288 against the US Dollar. The price struggled to form a new high above $298 and is currently following a declining pattern. It has already breached the 38.2% Fib retracement level of the last leg from the $255.63 low to $298.50 high. Therefore, it now remains at a risk of more losses below $280 in the short term.

However, the price is currently approaching a major support area near $278-276. There are many supports around $276, starting with the 50% Fib retracement level of the last leg from the $255.63 low to $298.50 high. There is also a bullish trend line with support near $276. Furthermore, the 100 hourly simple moving average is also positioned near $276. Overall, the $276-278 support zone is very important and must hold losses. Lastly, there is a new declining channel pattern with support near $276 forming on the hourly chart of ETH/USD.

Ethereum Price Technical Analysis ETH USD

On the upside, the channel resistance is near $288-289. A break above the channel resistance and $298 is needed for the price to gain traction. If the $276-278 support levels fail to hold, the price might test the last swing low of $255.

Hourly MACD – The MACD has just moved into the bearish zone.

Hourly RSI – The RSI is well below the 50 level.

Major Support Level – $276

Major Resistance Level – $298

 

Charts courtesy – SimpleFX

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Key Highlights

  • ETH price was not able to move above the $298 level against the US Dollar and traded lower.
  • Yesterday’s highlighted contracting triangle pattern with support at $282 on the hourly chart of ETH/USD (data feed via SimpleFX) was breached.
  • If the recent downside break is real, the price might trade towards the $268-270 levels.

Ethereum price is slowly trading lower against the US Dollar and Bitcoin. ETH/USD cleared a key support at $282 and currently heading lower.

Ethereum Price Resistance

There was no major move in ETH price recently as it remained below the $298 resistance against the US Dollar. However, it seems like the price is losing steam and slowly below the $285 level. Yesterday, we saw a contracting triangle pattern with support at $282-284 on the hourly chart of ETH/USD. The pair failed to hold the triangle support at $284 and moved below $282. The most important thing was a break of the 23.6% Fib retracement level of the last wave from the $238.50 low to $298.70 high.

If the recent break is true, there are chances of further slides below $280. The next important support is near $268. The 50% Fib retracement level of the last wave from the $238.50 low to $298.70 high is near $268. Moreover, the 100 hourly simple moving average is also near $268. It means the $268 support is very important for the current trend and must hold losses.

Ethereum Price Technical Analysis ETH USD

On the upside, there is a connecting bearish trend line forming with current resistance at $296. A break above $296 followed by a close above $298 is required for further gains. In the short term, there can be swing moves towards $270-268 where buyers might emerge.

Hourly MACD – The MACD is slowly moving back into the bearish zone.

Hourly RSI – The RSI is now below the 50 level.

Major Support Level – $268

Major Resistance Level – $298

 

Charts courtesy – SimpleFX

Key Highlights

  • ETH price climbed higher and traded close to the $300 level against the US Dollar.
  • There is a new contracting triangle pattern with support at $278 forming on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The price remains elevated as long as it stays above the $278-270 support area in the near term.

Ethereum price moved higher and gained strong bids against the US Dollar and Bitcoin. Now, can ETH/USD continue moving higher and stay above $270?

Ethereum Price Support

There was a decent ride in ETH price as it climbed above a few important resistance levels like $270 against the US Dollar. The upside move was strong and as a result, there almost a test of the $300 handle. The price traded as high as $298.71 where it faced offers. However, there was no complete test of the 1.236 Fib extension of the last decline from the $281.50 high to $199.80 low at $300.60. The price is currently correcting lower from the $298 swing high.

On the downside, an initial support is around the 23.6% Fib retracement level of the last wave from the $238.56 low to $298.71 high. It looks like there is a new contracting triangle pattern with support at $278 forming on the hourly chart of ETH/USD. The most important support is near $270, which is close to the 50% Fib retracement level of the last wave from the $238.56 low to $298.71 high. As long as the price stays above the $270 level, there is a chance of it breaking $298 in the near term.

Ethereum Price Technical Analysis ETH USD

A break and close above $298 would clear the path for more gains. On the other hand, a close below $270 could increase the bearish pressure.

Hourly MACD – The MACD is slowly decreasing the bullish slope.

Hourly RSI – The RSI is heading lower towards the 50 level.

Major Support Level – $270

Major Resistance Level – $298

 

Charts courtesy – SimpleFX

Key Highlights

  • ETH price after consolidating above the $240 level against the US Dollar started an upside move.
  • There was a break above a major bearish trend line with resistance at $262 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The price might soon gain traction and could even test the $300 level in the near term.

Ethereum price is attempting a major recovery against the US Dollar and Bitcoin. ETH/USD is above $280 and might test the $300 level soon.

Ethereum Price Resistance

The past two sessions were positive for ETH price as it moved above $250 against the US Dollar. There was a consolidation pattern formed near $240 before a recovery was initiated. The recent upside move was positive, as there was a break of the 61.8% Fib retracement level of the last decline from the $281.31 high to $199.74 low. The price also succeeded in trading above the $260 level and the 100 hourly simple moving average.

These all are bullish signs since the price is above the 76.4% Fib retracement level of the last decline from the $281.31 high to $199.74 low. There was even a break above a major bearish trend line with resistance at $262 on the hourly chart of ETH/USD. The price is now trading near the last swing high of $281 and looks set to break it. Once there is a break, the price could test the 1.236 Fib extension of the last decline from the $281.31 high to $199.74 low at $300.57.

Ethereum Price Technical Analysis ETH USD

If the current sentiment remains intact, we can even witness a break above $300. As long as the price is above $255 and the 100 hourly simple moving average, it could trade higher.

Hourly MACD – The MACD is now placed well in the bullish zone.

Hourly RSI – The RSI is heading into the overbought levels.

Major Support Level – $260

Major Resistance Level – $300

 

Charts courtesy – SimpleFX

Key Highlights

  • ETH price after trading as low as $199.74 against the US Dollar found support and recovered above $250.
  • There are two bearish trend lines waiting on the upside at $274-280 on the 4-hours chart of ETH/USD (data feed via SimpleFX).
  • The pair is likely to correct lower once again towards $230 before making an upside attempt.

Ethereum price recovered well against the US Dollar and Bitcoin. However, upsides remain capped in ETH/USD near $275 and $280.

Ethereum Price Resistance

This past week due to all Chinese drama, we saw a major decline in ETH price below the $250 level against the US Dollar. The price even traded below the $200 handle to form a low at $199.74. Later, the price started correcting higher, and made an upside move above $225. It corrected above the 38.2% Fib retracement level of the last decline from $315.15 high to $199.74 low.

However, the upside move was protected by the $270 region. The 61.8% Fib retracement level of the last decline from $315.15 high to $199.74 low acted as a crucial resistance. On the upside, there are two bearish trend lines waiting at $274-280 on the 4-hours chart of ETH/USD to act as a hurdle. It looks like a break and close above $280 won’t be easy considering resistances on the upside. Furthermore, the 100 simple moving average (H4) is sitting near the $308 level to stop any major gains.

Ethereum Price Weekly Analysis ETH USD

A proper close above the 100 simple moving average (H4) and $310 is needed for the pair to be back in the bullish zone. In the short term, there can be a minor correction back towards $230. Any further downsides could take the pair towards $215 in the near term.

4-hours MACD – The MACD is slowly decreasing the bearish zone.

4-hours RSI – The RSI is still below the 50 level.

Major Support Level – $225

Major Resistance Level – $280

 

Charts courtesy – SimpleFX

Key Highlights

  • ETH price remained in the bearish trend and declined below $240 against the US Dollar.
  • There is a monster bearish trend line forming with resistance at $248 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The price might correct a few points from the current levels, but upsides remain capped near $250-260.

Ethereum price is under heavy selling pressure against the US Dollar and Bitcoin. ETH/USD might decline further and could even test $210.

Ethereum Price Resistance and Upside Hurdles

There were further declines in ETH price as it moved below the $260 and $250 support levels against the US Dollar. Yesterday, there was a minor correction from the $260 level towards $280. However, the upside move was capped and buyers failed to break the $280 resistance area. The price declined and traded below $260 to form a new monthly low. The decline was such that the price even failed to hold the $240-230 support area and traded to a new low at $221.42.

At the moment, the price is correcting from $221. It moved above the 23.6% Fib retracement level of the last decline from the $281.31 high to $221.42 low. However, there is a monster bearish trend line forming with resistance at $248 on the hourly chart of ETH/USD. The trend line resistance is also near the 38.2% Fib retracement level of the last decline from the $281.31 high to $221.42 low. Therefore, a break above the trend line resistance at $250 won’t be easy.

Ethereum Price Technical Analysis ETH USD

If the current bearish pressure remains intact, there is a chance of a break below $220. The price might even test the $210-200 support zone where sellers could struggle.

Hourly MACD – The MACD is strongly placed in the bearish zone.

Hourly RSI – The RSI is currently well below the 50 level and showing bearish signs.

Major Support Level – $220

Major Resistance Level – $260

 

Charts courtesy – SimpleFX

Key Highlights

  • ETH price traded below the $260 support area against the US Dollar before finding bids near $255.
  • There is an ascending channel forming with support at $274 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The price might break the channel support and decline once again towards $260.

Ethereum price remains in the bearish zone against the US Dollar and Bitcoin. ETH/USD might complete correction and move lower once again towards $260-255.

Ethereum Price Correction

There was no major correction in ETH price yesterday as it failed to remain above the $290 level against the US Dollar. The price started a correction from the $280 level and formed an ascending channel on the hourly chart. It corrected above the $310 level, but failed near $315. After the failure, the price started declining once again and broke the channel support at $297. There was a sharp decline in ETH and the price even broke the $270 and $260 support levels.

A low was formed near $255.54 from where the price is currently correcting. It has moved above the 23.6% Fib retracement level of the last decline from the $315.21 high to $255.54 low. There is also an ascending channel forming with support at $274 on the hourly chart of ETH/USD. The pair is currently struggling to clear the 38.2% Fib retracement level of the last decline from the $315.21 high to $255.54 low.

Ethereum Price Technical Analysis ETH USD

Therefore, there is a chance that ETH would break the channel support at $274. Once the price $274, it could trade back towards $260 or even $255. On the upside, a break above $290 and the 100 hourly simple moving average is needed for more gains.

Hourly MACD – The MACD is still placed well in the bearish zone.

Hourly RSI – The RSI is retreating from the 50 level and heading lower.

Major Support Level – $260

Major Resistance Level – $290

 

Charts courtesy – SimpleFX

Key Highlights

  • ETH price after correcting towards $315 against the US Dollar faced resistance and started declining once again.
  • There was a break below a bullish trend line with support at $297 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The price has breached the last swing low of $281, which is a bearish sign in the short term.

Ethereum price failed to hold gains and momentum against the US Dollar and Bitcoin. ETH/USD is now below $290 and eyeing further declines.

Ethereum Price Decline

Yesterday, we saw how there was a decent bounce back in ETH price towards the $315 level against the US Dollar. The price traded as high as $315.14 and later faced heavy offers. The price failed to move above $317 and a bearish trend line on the hourly chart of ETH/USD. A new bearish wave was initiated from $315.14 and the pair moved below the $306 support area.

The recent decline is disappointing and shows that the last wave up to $315 was only a correction. At the moment, the price is trading well below the 100 hourly simple moving average and $290. During the downside move, there was a break below a bullish trend line with support at $297 on the hourly chart. The most important point is the fact that the price broke the last low of $281. It is a sign of more declines below $280 in the near term.

Ethereum Price Technical Analysis ETH USD

On the upside, an initial resistance is around the 23.6% Fib retracement level of the last wave from the $315.14 high to $279.38 low. It looks like the price might extend declines below $279 and could even test $270. Clearly, the price is struggling and remains in the bearish zone below $290.

Hourly MACD – The MACD is gaining pace in the bearish zone.

Hourly RSI – The RSI has reached the oversold readings.

Major Support Level – $270

Major Resistance Level – $288

 

Charts courtesy – SimpleFX

Key Highlights

  • ETH price is slowly moving higher and currently trading near $301 against the US Dollar.
  • There are two bearish trend lines with resistance near $303 forming on the hourly chart of ETH/USD (data feed via SimpleFX).
  • A break and close above $303 could take the price towards the next resistance near $318.50.

Ethereum price is testing a major hurdle against the US Dollar and Bitcoin. Let’s see if ETH/USD can break $303 for further upsides in the near term.

Ethereum Price Upside Hurdle

There was a bearish wave in ETH price towards the $288 level recently against the US Dollar. However, the price was able to recover from $288. There was a decent base formed near $288 and the price was able to move above $290. It is now above the 50% Fib retracement level of the last drop from the $306.69 high to $287.13 low. It is a positive sign and the current structure looks bullish above the $280 level.

At the moment, the price is trading near a major resistance zone at $301-303. The $302 level is near the 76.4% Fib retracement level of the last drop from the $306.69 high to $287.13 low. The 100 hourly simple moving average is positioned near $302 to act as an important resistance. Moreover, there are two bearish trend lines with resistance near $303 forming on the hourly chart of ETH/USD. If there is a break and close above $303, the pair could trade towards the next resistance near $318.50.

Ethereum Price Technical Analysis ETH USD

There is another bearish trend line sitting near $318.50. On the flip side, there is a bullish trend line in place at $294.50. The pair might soon break either $303 or $294 for the next move.

Hourly MACD – The MACD is currently flat in the bullish zone.

Hourly RSI – The RSI is heading higher towards the 60 level.

Major Support Level – $294

Major Resistance Level – $303

 

Charts courtesy – SimpleFX

Key Highlights

  • ETH price after trading as low as $281.24 found support against the US Dollar.
  • There was a break above a key bearish trend line with resistance near $297.50 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The price might continue to head higher, but faces a major hurdle near $306-308.

Ethereum price is attempting a recovery against the US Dollar and Bitcoin. ETH/USD has to break $306-308 to gain bullish momentum in the near term.

Ethereum Price Resistance

During the past two days, ETH price suffered heavy losses below $325 against the US Dollar. The price declined below the $290 level and traded as low as $281.24. Later, buyers managed to protect further slides and the price started recovering above $285.00. It has breached the 23.6% Fib retracement level of the last decline from the $336.32 high to $281.24 low.

During the upside move, there was a break above a key bearish trend line with resistance near $297.50 on the hourly chart of ETH/USD. It has opened the doors for further gains above $300 in the near term. The next resistance is around the 50% Fib retracement level of the last decline from the $336.32 high to $281.24 low at $308.78. Above $308.78, there is a bearish trend line at $316 on the same chart. Therefore, it won’t be easy for buyers to clear the $308-315 resistance zone.

Ethereum Price Technical Analysis ETH USD

Moreover, the 100 hourly simple moving average is near $309 to act as a barrier. A proper close above the 100 hourly SMA and $316 is needed for further gains. On the downside, the broken trend line might provide support near $298. Overall, there can be further gains, but the $308 resistance holds a lot of importance.

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

Hourly RSI – The RSI is now back above the 50 level.

Major Support Level – $298

Major Resistance Level – $308

 

Charts courtesy – SimpleFX