• 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
    • What is Bitcoin?
    • 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
    • What is Bitcoin?
    • 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 Weekly Forecast: Larger Rally To $340 In Play

Aayush Jindal by Aayush Jindal
2 years ago
in Technical analysis
Reading Time: 2min read
sleepwalking, technical analysis ethereum
Advertisement
Nexo Logo
Listen to Article
  • ETH price started a strong upward move and broke the key $300 barrier against the US Dollar.
  • Bitcoin price gained momentum above $10,000 and $11,000 levels and is currently consolidating.
  • There is a major ascending channel in place with support near $305 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair is likely to break the $320 resistance and it could even test the $340 resistance area.

Ethereum price is rallying above key resistances such as $300 against the US Dollar, similar to bitcoin. ETH could continue to move higher towards the next key hurdles near $340 and $350.

Ethereum Price Weekly Analysis

This past week, Ethereum price started a major upward move above the $280 resistance against the US Dollar. The ETH/USD pair broke the main $288 and $290 resistance levels to follow bitcoin’s super rise. It even broke the $300 barrier and settled well above the 100 simple moving average (4-hours). The bulls are currently in action and the price traded to a new 2019 high at $316.

It is currently showing a lot of positive signs above $305 and $300. An initial support is near the 23.6% Fib retracement level of the recent rally from the $283 low to $316 swing high. Moreover, there is a major ascending channel in place with support near $305 on the 4-hours chart of ETH/USD. Below the channel support, the next important support is near the $300 level.

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

The 50% Fib retracement level of the recent rally from the $283 low to $316 swing high is also near the $300 support. Therefore, if the price corrects lower, it is likely to find a strong support near $305 and $300. The main pivot level is near the $290 level. It coincides with the 76.4% Fib retracement level of the recent rally from the $283 low to $316 swing high.

On the upside, an initial resistance is near the $318 and $320 levels. If there is an upside break above the $325 level, the price will most likely surge towards the $340 and $350 levels.

Ethereum Price Weekly Analysis ETH Chart

The above chart indicates that Ethereum price started a major uptrend above $300. An upside break above the recent high will most likely set the pace for more gains towards $325 and $340. On the downside, the main supports are near $305 and $300. Besides, as long as the price s above $290, it remains in an uptrend.

Technical Indicators

4 hours MACD – The MACD for ETH/USD is slowly reducing its bullish slope.

4 hours RSI – The RSI for ETH/USD is currently well above the 70 level, with no sign of a downside correction.

Major Support Level – $300

Major Resistance Level – $325

Tags: ETHethereum
TweetShare
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

Chainlink (LINK)

Charted: Chainlink (LINK) Remains In Strong Uptrend, Why It Could Test $25

5 hours ago
Ethereum

TA: Ethereum Steadies Above $1,150: Why ETH Could Outperform BTC

8 hours ago
Bitcoin

TA: Bitcoin Topside Bias Vulnerable, Why BTC Could Dive Below $35K

10 hours ago
Ethereum

Ethereum is About to Flip a Key Resistance Level into Support; New Highs Imminent?

15 hours ago
Bitcoin

Bitcoin Struggles Below $38K, Why BTC Could Dive To $32K

1 day ago
Ethereum

Ethereum is On the Brink of Setting Fresh All-Time Highs as Bulls Take Control

2 days 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

Robonomics Winter School 2021 Master Classes And Lectures Open For Attendees

January 18, 2021

Introducing ethrift.io Non-Custodial FIAT Ethereum Gateway

January 16, 2021

SV-based Taraxa Revolutionizes Legacy Data Auditing With Mathematically Provable Audit Trails

January 15, 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
    • What is Bitcoin?
    • 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.