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Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Ethereum Price Technical Analysis – ETH/USD Holding 100 SMA 2017-06-19

Aayush Jindal
Aayush Jindal
7 years ago
4 mins read
Ethereum Price Technical Analysis ETH USD

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Key Highlights

  • After a move towards $375, ETH price started correcting lower against the US Dollar.
  • There is a connecting bearish trend line with resistance at $370 formed on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair is holding an important support at $335 and the 100 hourly simple moving average.

Ethereum price is holding key supports against the US Dollar and Bitcoin, and ETH/USD may trade in a range above $335 for some time before the next move.

Ethereum Price Range

We witnessed a decent recovery from the $256.65 low in ETH price against the US Dollar. The price moved higher above the $340 and $350 resistance levels and recently traded close to the $375 level. It faced sellers near $375 and started a correction. Actually, a connecting bearish trend line with resistance at $370 on the hourly chart of ETH/USD acted as a hurdle. It pushed the price below the 23.6% Fib retracement level of the last wave from the $256 low to $375 high.

At the moment, the price is holding a major support at $335 and the 100 hourly simple moving average. There is also a short-term bullish trend line just around $335. So, it looks like the $335 support and the 100 hourly SMA may act as a crucial pivot for ETH. As long as the price is above $335, there can be a retest of the trend line resistance at $370.

Ethereum Price Technical Analysis ETH USD

On the other hand, a break below $335 could take the price towards the 50% Fib retracement level of the last wave from the $256 low to $375 high at $315. The overall picture suggests a range pattern for ETH/USD above $330-335 until the next move.

Hourly MACD – The MACD is attempting to move back in the bullish zone.

Hourly RSI – The RSI is just below the 50 level and heading higher.

Major Support Level – $335

Major Resistance Level – $370

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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