• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis

Ethereum (ETH) Price Remains In Uptrend: Break Above $280 Imminent

Aayush Jindal by Aayush Jindal
2 years ago
in Technical analysis
Reading Time: 2min read
Ethereum bitcoin
Advertisement
  • ETH price remained in a positive zone and recently traded above the $275 resistance against the US Dollar.
  • The price is currently correcting lower, but it remains well supported near $265 and $262.
  • There is a major bullish trend line forming with support near $266 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to grind higher and it might soon surpass the $278 and $280 resistances.

Ethereum price gained bullish momentum above $265 versus the US Dollar, but declined vs bitcoin. ETH price remains in a positive zone, with high chances of an upside break above $280.

Ethereum Price Analysis

In the past few days, there was a steady rise in Ethereum price above the $250 resistance against the US Dollar. The ETH/USD pair cleared the $265 resistance area and the 100 hourly simple moving average. Recently, the price even cleared the $270 and $275 resistance levels. A new monthly high was formed near $279 before the price started a downside correction.

There was a sharp downside correction below the $275 and $270 levels. The price even spiked below the $265 level, but the 100 hourly simple moving average acted as a strong support. Moreover, there is a major bullish trend line forming with support near $266 on the hourly chart of ETH/USD. The pair bounced back above $268, and the 50% Fib retracement level of the last slide from the $279 high to $263 low.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

However, the upward move was capped by the $272-274 zone. It seems like the 61.8% Fib retracement level of the last slide from the $279 high to $263 low is acting as a resistance. The price already made two attempts to clear $272 and it is currently moving lower.

On the downside, the price remains well supported near the $268 and $266 levels. The trend line support and the 100 hourly SMA near $264 are crucial barriers for sellers. As long as the price is above $264, it is likely to bounce back. A clear break above the $272 level may perhaps push the price further higher.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum price is clearly trading with a positive bias above the $260 and $264 levels. On the upside, a break above the $272 level might call for more gains above $275 and $278. Once the price surpasses the $280 barrier, it could rally towards $288 and $292 in the coming sessions.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is about to move back in the bullish zone, with positive signs.

Hourly RSI – The RSI for ETH/USD is still above the 50 level, with a few positive signs.

Major Support Level – $264

Major Resistance Level – $278

Tags: ETHethereum
TweetShare42
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? 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

bitcoin thin ice

Time To Be Careful: Why Traders Are Cautious On Bitcoin Right Now

42 mins ago
Polkadot (DOT)

Charted: Polkadot (DOT) Steadies Above $35, Why Bulls Aim $40 or Higher

14 hours ago
Ethereum

TA: Ethereum Lacks Momentum Above $1,550, Why Dips Likely To Be Limited

15 hours ago
Bitcoin

TA: Bitcoin Holding Gains, Why BTC Could Surge Above $50K

17 hours ago
bitcoin bear trap dollar dxy btc

Bitcoin Shakes Off Dollar Rebound But Beware Of Coming Bear Phase

20 hours ago
ethereum showtime alt season

Alt Season 2.0: Analyst Claims It’s “Showtime” For Ethereum

1 day ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

First-Ever Public Tron-based Smart Contract

March 3, 2021

ECOMI to List OMI Tokens with BitMax

March 3, 2021

eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal

March 2, 2021

Newsletter Signup


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.

COMPANY

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

Technical Analysis

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

LINKS

Auto Trading Software ▸

Cryptocurrency news

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

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 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.