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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ethereum Price Weekly Analysis – ETH/USD In Slow Uptrend

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Ethereum Price Weekly Analysis ETH USD

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Created by industry experts and meticulously reviewed
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Key Highlights

  • ETH price is slowly moving higher above $316, but struggling to gain momentum against the US Dollar.
  • There are two bullish trend lines with support at $330 and $310 forming on the 4-hours chart of ETH/USD (data feed via SimpleFX).
  • The pair needs to gain momentum to overcome sellers around the $344 zone in the near term.

Ethereum price is in uptrend against the US Dollar and Bitcoin, but ETH/USD has to gain traction to continue moving higher.

Ethereum Price Resistance

This past week was mostly ranging with minor bullish tone above the $310 level in ETH price against the US Dollar. The price dipped on a couple of occasions, but found support and currently trading above the $320 level. The price action is decent and could lift the market sentiment for ETH above $330 in the near term. However, buyers are lacking pace since other cryptos like DASH, XMR and REP gained pace lately. The price of DASH is more than Eth at the moment.

There are many support for ETH on the downside like $310. There are two bullish trend lines with support at $330 and $310 forming on the 4-hours chart of ETH/USD. The pair is already trading above the 50% Fib retracement level of the last decline from the $344.65 high to $289.50 low. However, the price has to gain momentum above the $340 level to break $344 and trade towards $350.

Ethereum Price Weekly Analysis ETH USD

At the moment, the price is struggling to clear the 76.4% Fib retracement level of the last decline from the $344.65 high to $289.50 low. Once there is a proper close above $344, we can witness heavy gains in the short term towards $350 or even $375.

4-hours MACD – The MACD is moving nicely in the bullish zone.

4-hours RSI – The RSI is well above 50 level and slowly moving higher.

Major Support Level – $310

Major Resistance Level – $344

 

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

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