• 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
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
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
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis

Ethereum (ETH) Price Holding Support: Buying Dips Favored

Aayush Jindal by Aayush Jindal
2 years ago
in Technical analysis
Reading Time: 2min read
technical analysis ethereum
Advertisement
Listen to Article
  • ETH price is struggling to gain momentum above $275 and $280 against the US Dollar.
  • The price is currently correcting lower towards the $268 and $265 support levels.
  • Yesterday’s highlighted key bullish trend line is intact with support near $267 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to find a strong buying interest near the $268, $267 and $265 support levels.

Ethereum price is trading in a broad range below $275 versus the US Dollar, but extended losses vs bitcoin. ETH price could start a strong rally if there is a clear break above $275 and $280.

Ethereum Price Analysis

After a short term downside correction, Ethereum price recovered from the $262 swing low against the US Dollar. The ETH/USD pair traded above the $265 and $270 resistance levels. Moreover, the price remained well above the $270 level and the 100 hourly simple moving average. However, the price struggled to clear the key $275 resistance level and recently corrected lower once again.

It traded below the 23.6% Fib retracement level of the upward move from the $262 swing low to $275 high. There were a couple of spikes below $270, but the price remained well bid above $268. Besides, the 50% Fib retracement level of the upward move from the $262 swing low to $275 high acted as a strong support. More importantly, yesterday’s highlighted key bullish trend line is intact with support near $267 on the hourly chart of ETH/USD.

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

The main support is near the $266 and $265 levels. The 100 hourly SMA is positioned near the $265 level to act as a solid support. An intermediate support is near the 61.8% Fib retracement level of the upward move from the $262 swing low to $275 high. Therefore, the price is likely to bounce back as long as it is above the $265 support.

On the upside, the main resistance is near the $275 level. If there is an upside break above $275, there are chances of more upsides above the $278 and $280 levels in the near term.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum price is clearly struggling to gain momentum above $275 and $280. A successful close above the $280 barrier is must for a sharp rise towards the $290 and $300 resistance levels. On the downside, if there is a break below the $265 support, the price is likely to continue lower in the coming sessions.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bearish bullish zone, with negative signs.

Hourly RSI – The RSI for ETH/USD just dipped below the 50 level, with a bearish angle.

Major Support Level – $265

Major Resistance Level – $275

Tags: ETHethereum
TweetShare28
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

Ripple (XRP)

Charted: Ripple (XRP) Signaling Bullish Breakout, Why It Could Retest $0.35

3 hours ago
Ethereum

TA: Ethereum Steadies Above $1,280, Why ETH Could Restart Its Rally

5 hours ago
Bitcoin

TA: Bitcoin Struggles Below $36K, Why BTC Could Extend Losses

7 hours ago
bitcoin peter brandt parabola breakdown

Career Trader Subtly Hints Of Bitcoin Parabola Breakdown With Fractal Diagram

10 hours ago
Ethereum (ETH)

Fractal Suggests Ethereum May Face Further Chop Before Seeing Parabolic Rally

14 hours ago
Technicals Point To Extended Ethereum Dominance Over Bitcoin

Technicals Point To Extended Ethereum Dominance Over Bitcoin

15 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

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
CryptoSlots

CryptoSlots

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

Bit.com To Launch Industry’s First BCH Options

January 20, 2021

NOWPayments Presents: Fiat Conversion

January 20, 2021

The Foundation for Economic Education Announces Two Major Gifts from Bitcoin.com Founder Roger Ver

January 19, 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
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 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.