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Breaking News: Bitcoin Correction Timeline: Analyst Predicts Potential Bottom In October 2026
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Breaking News: Bitcoin Correction Timeline: Analyst Predicts Potential Bottom In October 2026

Ethereum Price Analysis – ETH $20.00 Target Still In Play

Aayush Jindal
Aayush Jindal
Last Updated: April 5, 2018 7:26 am
2 mins read
Ethereum Price Technical Analysis

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Key Highlights

  • Ethereum price started to move higher once again vs the US dollar, and it looks like my yesterday’s idea of a test $20.0 is possible.
  • There is now a channel pattern forming on the hourly chart (data feed via Kraken) of ETH/USD, which may act as a catalyst for the upside move.
  • If the current momentum continues, there is a chance of an upside move towards $20.00.

Ethereum price retained the bullish bias after a minor correction, and the current price action in ETH suggests more gains in the short term.

Ethereum Price Upside Move

Ethereum price ETH after trading towards the $17.70 support area against the US Dollar started to climb higher once again. The price is currently trading near the 61.8% Fib retracement level of the last drop from the $19.30 high to $16.09 low, and almost broke it. There is also a channel pattern forming on the hourly chart (data feed via Kraken) of ETH/USD, which may play a major role for the next move in the short term.

If the price continues to trade higher from the current levels, then the all-important $20.00 level may be tested. The stated level also coincides with the 1.236 extension of the last drop from the $19.30 high to $16.09 low, which is a perfect technical level.

Ethereum Price Technical Analysis

ETH/USD is also well above the 100 hourly simple moving average, which is a positive sign and could ignite further gains. An initial hurdle on the upside is around the $19.00 level, followed by $19.20. On the downside, the channel support trend line may be considered as a buy zone with a stop below it.

Hourly MACD – The MACD is back into the bullish zone, signaling more gains in ETH.

Hourly RSI – The RSI is above the 50 level, which is a bullish sign for the ETH buyers.

Major Support Level – $18.05

Major Resistance Level – $19.00

 

Charts courtesy of Kraken via Trading View

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Reason to trust

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Created by industry experts and meticulously reviewed
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How Our News is Made

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