• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • 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
  • Play FinanceTry
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
  • 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
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
technical analysis ethereum

Ethereum Price (ETH) Likely To Accelerate Above $240 & $250

Aayush Jindal by Aayush Jindal
4 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement
  • ETH price remained well bid above the $208 support and recently climbed higher against the US Dollar.
  • The price settled above the $220 pivot level and is currently consolidating in a range.
  • There is a breakout pattern forming with resistance near $227 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to accelerate higher above the $227 and $230 resistance levels in the near term.

Ethereum price is showing positive signs above $208 and $215 versus the US Dollar, similar to bitcoin. ETH price might continue to rise towards the $240 and $250 resistances.

Ethereum Price Analysis

After forming a support base above $200 and $208, Ethereum price climbed higher against the US Dollar. The ETH/USD pair even broke the $220 resistance and settled above the 100 hourly simple moving average. Recently, there was a break above the $230 level and the price traded to a new intraday high at $236. Later, it corrected lower and traded below the $225 level. A low was formed near $217 and the price is currently consolidating in a range.

It broke the $220 level plus the 23.6% Fib retracement level of the recent decline from the $236 high to $217 low. However, the price is struggling to clear the $227 and $230 resistance levels. Moreover, there is a breakout pattern forming with resistance near $227 on the hourly chart of ETH/USD. The 50% Fib retracement level of the recent decline from the $236 high to $217 low also acted as a barrier.

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!

If there is an upside break above the $227 and $230 resistance levels, the price might continue to rise. The next key resistance is near the $236 high, above which the price could accelerate towards the $240 level. Any further gains could push the price towards the $250 resistance.

On the other hand, if the price fails to gain pace above $227 and $230, there could be a downside break. An immediate support is near the $217 low, below which the price might accelerate towards the $210 or $208 support area.

Ethereum Price Analysis ETH Chart

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

Looking at the chart, Ethereum price is clearly preparing for the next move either above $230 resistance or below the $217 swing low. If there is an upside break above $230, the price will most likely grind higher towards the $250 area. Conversely, it could revisit the $208 support area in the coming sessions.

ETH Technical Indicators

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

Hourly RSI – The RSI for ETH/USD is currently well above the 50 level, with a bullish angle.

Major Support Level – $217

Major Resistance Level – $230

Tags: ETHethereum
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

Cardano Rally

Cardano (ADA) Price Saw Technical Breakout: Big Reaction From Bulls Imminent

7 hours ago
Ethereum

Ethereum Price Rally To $2,000 On The Horizon, As Bears Show Weak Hands

8 hours ago
Bitcoin

Bitcoin Price Trims Losses But Remains In Range, What Could Trigger Fresh Rally

10 hours ago
Aave

How Soon Can We Expect Aave To Target $80?

16 hours ago
Tron And HT Plummets

Tron (TRX), Huobi Token (HT) Plummet Nearly 10% In A Day, Here’s Why

1 day ago
AVAX Price Could Rally

AVAX Price Prediction: Avalanche Bulls Aim $20 or Higher

1 day ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Litecoin (LTC) and Dogecoin (DOGE) Drowning in Controversy While TMS Network (TMSN) Steals the Show

March 24, 2023

The Best Altcoins To Get In Early 2023: TMS Network (TMSN), TRON (TRX) and Mask Network (MASK)

March 24, 2023

The Web3.Conference will gather Web3 builders & creators this May in Amsterdam

March 24, 2023

LFi Unveils LFi Smartphone, Providing Unprecedented Access to Decentralized Financial Opportunities

March 24, 2023

Cardano (ADA) and Polkadot (DOT) Prices Reach a Crucial Juncture, While TMS Network (TMSN) Attracts Investors in Stage 2 of Presale

March 24, 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.

  • 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
  • Play Finance

© 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.