• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
Ethereum Price

Ethereum Price Breaks Shackles, Why ETH Could Rally Before Bitcoin

Aayush Jindal by Aayush Jindal
4 months ago
in ETH
Reading Time: 2 mins read
Advertisement

Ethereum gained pace and broke the $1,320 resistance against the US Dollar. ETH is showing positive signs and might surge above the $1,400 resistance.

  • Ethereum started a steady increase above the $1,320 and $1,330 levels.
  • The price is now trading above $1,300 and the 100 hourly simple moving average.
  • There is a major bullish trend line forming with support near $1,320 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could rally before bitcoin if it stays above the $1,300 pivot zone.

Ethereum Price Gains Strength

Ethereum remained well bid above the $1,265 level and started a steady increase. ETH was able to clear the $1,290 and $1,300 levels to move into a positive zone.

The price gained nearly 5% and there was a break above the $1,320 resistance zone. Ether price even climbed above the $1,350 level and settled above the 100 hourly simple moving average. It traded as high as $1,370 and recently started a downside correction.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

The price is now moving lower towards the $1,340 zone. It is close to the 23.6% Fib retracement level of the upward move from the $1,252 swing low to $1,370 high. There is also a major bullish trend line forming with support near $1,320 on the hourly chart of ETH/USD.

Ethereum Price

Source: ETHUSD on TradingView.com

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

An immediate resistance on the upside is near the $1,370 level. The first major resistance is near the $1,390 and $1,400 levels. A clear upside break above the $1,400 resistance zone could open the doors for a strong increase. In the stated case, the price might rise towards the $1,500 level.

Dips Limited in ETH?

If ethereum fails to climb above the $1,400 resistance, it could start a downside correction. An initial support on the downside is near the $1,340 level.

The next major support is near the $1,320 level and the trend line. The main support is near $1,300. It is near the 50% Fib retracement level of the upward move from the $1,252 swing low to $1,370 high. A downside break below the $1,300 zone might start a fresh decline to $1,265 in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 level.

Major Support Level – $1,320

Major Resistance Level – $1,370

Tags: ETHethereumethusdETHUSDT
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Ethereum

Ethereum Price Close Below $1,600 Could Spark Larger Degree Correction

5 hours ago
Ethereum

Ethereum Price Revisits $1,700 And $1,800 Seems Imminent, Here’s Why

1 day ago
Ethereum Price

Ethereum Price is About to See “Liftoff” if It’s Able to Hold One Crucial Level

2 days ago
Ethereum Price

Ethereum Price Holds Key Support and Eyes Fresh Move To $1,700

3 days ago
Ethereum Price

Ethereum Price Looks Ready For Another Leg Higher Over $1,700

6 days ago
Ethereum Price

Ethereum Price Hits $1,700 and ETH Is Poised For More Upsides

1 week ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Bitcoin (BTC) Sends the Cryptocurrency Market Green; Ethereum (ETH) and Orbeon Protocol (ORBN) Investors Among Those Set to Profit

February 9, 2023

MATIC, Snowfall Protocol (SNW), and Solana (SOL) (SOL) Surge in Early 2023 Crypto Rally

February 9, 2023

SEC Calls for Bitcoin (BTC) and Ethereum (ETH) Regulation As Snowfall Protocol (SNW) Presale Ends on a High Note

February 8, 2023

Chainlink (LINK) and Orbeon Protocol (ORBN) Outperform the Market, Experts Predict Big Growth in 2023

February 8, 2023

ALTCOIN DAILY TO PRODUCE AND STAR IN NEW “SHARK TANK OF CRYPTO” TV SHOW, KILLER WHALES

February 7, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.