• 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 Price Analysis: Can ETH/USD Break 100 SMA?

Aayush Jindal by Aayush Jindal
3 years ago
in Technical analysis
Reading Time: 2min read
technical analysis ethereum
Advertisement

Key Highlights

  • ETH price has started an upside correction and it moved above $590 against the US Dollar.
  • There was a break above a key bearish trend line with resistance at $592 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is now approaching another important bearish trend line with resistance at $620 on the same chart.

Ethereum price is slowly moving higher against the US Dollar and Bitcoin. ETH/USD may rise further towards a crucial resistance zone at $620.

Ethereum Price Resistance

There were further declines below $580 in ETH price against the US Dollar. The price traded towards the $540 level where buyers appeared. A low was formed at $543.57 before an upside correction wave was initiated. Buyers pushed the price above the $560 and $580 resistance levels. Moreover, there was a break above the 38.2% Fib retracement level of the last decline from the $651 high to $543 low.

During the upside move, there was a break above a key bearish trend line with resistance at $592 on the hourly chart of ETH/USD. The pair is currently attempting a close above the 50% Fib retracement level of the last decline from the $651 high to $543 low. It seems like the price may rise further above $610 in the near term. However, there is another important bearish trend line with resistance at $620 on the same chart. The trend line resistance near $620 is close to the 100 hourly simple moving average.

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

Ethereum Price Analysis ETH USD

Looking at the chart, the price has to move above the $620 resistance and the 100 hourly SMA to gain upside momentum. A close above $620 may perhaps push the price towards $640 and $650. On the downside, the $580 level is a decent support, followed by $560.

Hourly MACD – The MACD is now back in the bullish zone.

Hourly RSI – The RSI is moving higher and is currently placed nicely above the 50 level.

Major Support Level – $580

Major Resistance Level – $620

Tags: Ethereum AnalysisEthereum Price analysisEthereum Price chartethereum technical analysisethereum tradeethereum tradingethereum usdOpinionpricetrading
TweetShare
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

Ethereum

Ethereum Climbs above $1,600, Why ETH Could Soon Test $1,720

12 hours ago
Bitcoin Price

Why Bitcoin Price Could Start Strong Increase Above $50K

13 hours ago
bitcoin dominance btc.d altcoins liftoff

Prepare For Liftoff: Bitcoin Loses Bear Market Trendline Against Altcoins

2 days ago
Ethereum

TA: Ethereum Dives Below $1,500, Why Bulls Are Losing Control

3 days ago
Bitcoin

TA: Bitcoin Price Back Below 100 SMA, Why BTC Could Retest $45K

3 days ago
bitcoin cheat sheet

Bitcoin “Cheat Sheet” Calls For Next Leg Up To $77K

3 days 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

EcoCelium is Now Live – Ready to Mark the Next Step in DeFi

March 5, 2021

MXC Exchange Commits to Integrating USDC-SPL on Solana

March 5, 2021

Gambling Exhibition Ukrainian Gaming Week 2021: A Range of Products From Exhibiting Companies, an up-to-Date Program and a Special Offer

March 5, 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.