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Breaking News: Bitcoin, XRP, Ethereum Dip Post Fed's Rate Cut: What’s Next For Crypto?

Ethereum Price Technical Analysis – ETH/USD Bulls Ride Continues

Aayush Jindal
Aayush Jindal
Last Updated: April 3, 2018 8:28 am
2 mins read
Ethereum Price Technical Analysis ETH

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Key Highlights

  • ETH price was able to regain the bullish strength and momentum and moved above $30.84 against the US Dollar to trade above $36.
  • Yesterday’s highlighted contracting triangle pattern on the hourly chart (ETH/USD, data feed via SimpleFX) was broken to open the doors above $32.
  • The price traded as high as $36.09, and looks set for further gains in the near term.

Ethereum price remained well in the bullish zone against the US dollar, as ETH/USD buyers were able to push the price above $36.

Ethereum Price Upside Ride to Continue

Yesterday, we saw a couple of important signs of the bullish continuation in ETH price against the US Dollar. The price did gain strength and was able to break all hurdles above $30.00. It retained the bullish pace and was able to break the last high above $30.84. The upside move was such that the price traded above the $36 level and traded as high as $36.09. If the current momentum stays intact, there is a chance of further gains towards the $38 or $40 levels.

The upside move was initiated once the price broke the $29.50 level. Moreover, yesterday’s highlighted contracting triangle pattern on the hourly chart (data feed via SimpleFX) was cleared around $30. It enabled ETH buyers to gain strength and take the price above $32. There are high chances that the price might continue to move higher above $36.09. It could easily test the $38 level in the near term.

Ethereum Price Technical Analysis ETH

On the downside, the price remains supported above $34. There is a new connecting bullish trend line formed with support at $34. So, if the price moves down, it might find support near $34 and $32.

Hourly MACD – The MACD is well into the bullish area, and gaining strength.

Hourly RSI – The RSI is well above the 50 level, and heading north.

Major Support Level – $32.00

Major Resistance Level – $38.00

 

Charts courtesy – SimpleFX

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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

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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