• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • 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
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • 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
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
ethereum technical analysis

Ethereum Price Weekly Analysis – ETH/USD Poised for Further Appreciation

Aayush Jindal by Aayush Jindal
5 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement

Key Highlights

  • ETH price accelerated gains and moved above the $800 resistance level against the US Dollar.
  • There is an ascending channel with support at $800 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair is placed nicely in a bullish trend and it could continue to move higher towards $850 and $880.

Ethereum price is showing positive signs versus the US Dollar and Bitcoin. ETH/USD could gain further with supports on the downside at $800 and $782.

Ethereum Price Trend

There was a sharp upside move from the $620 support zone in ETH price against the US Dollar. The price started rallying and moved above the $650, $680 and $720 resistance levels. Buyers took control and the price even climbed above the $800 level. The current uptrend is very strong with swing supports around the $800 and $660 levels.

The recent high was formed at $833.56 from where the price started a downside correction. It is still trading above the $800 level with many positive signs. There is also an ascending channel with support at $800 on the 4-hours chart of ETH/USD. Below the channel support, the 23.6% Fib retracement level of the last wave from the $621 low to $838 high is at $783. Therefore, if the price continues to correct lower, it may find support near $800 and $782-783 in the near term. Below $782, the price could test the 50% Fib retracement level of the last wave from the $621 low to $838 high at $727.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

Ethereum Price Weekly Analysis ETH USD

The above chart also suggests that the price is placed nicely above $800. On the upside, a break above the recent high of $838 may perhaps push the price above the $850 level in the near term.

4-hours MACD – The MACD is currently reducing its bullish slope.

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

4-hours RSI – The RSI is still in the overbought zone with no major sign of a downside correction.

Major Support Level – $782

Major Resistance Level – $850

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

XRP Price Prediction

XRP Price Prediction: Uptrend Remains Intact Above $0.38

8 hours ago
Ethereum (ETH)

Ethereum Price Could Take-off If It Clears This Key Resistance Zone

9 hours ago
Bitcoin

Bitcoin Price At Risk of Downside Thrust Before Fresh Increase

11 hours ago
Polkadot

Polkadot (DOT) Price Moves Closer To Crucial Support, What’s Next?

17 hours ago
AAVE

Is AAVE Price Close To Breaking Consolidation?

18 hours ago
ethereum

Ethereum Reaches Critical Inflection Point Against Bitcoin: What Happens Next?

22 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Arat Hosseini Unveiled as Next Superstar NFT in World League Live

February 1, 2023

Big Eyes Coin Hits £20 million in Presale: Feline Friendly Crypto Dwarfs Competition

February 1, 2023

B2Broker Unveils Integrates Match-Trader into Its White Label Liquidity Offering

February 1, 2023

Optimism (OP) reaches all-time high, Coinbase fined 3.3 million euros by Dutch central bank and could Snowfall Protocol (SNW) launch earlier than the official date as investors pile in to buy up remaining supplies

February 1, 2023

Spike in Transactions causes Polygon (MATIC) price to Surge, Ethereum (ETH) loses 2.94%, and Snowfall Protocol (SNW) sells more than 90% of their phase 3 supply

February 1, 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.

  • Home
  • 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

© 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.