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Breaking News: Expert Predicts Bitcoin Price Could Fall To $45,000 By End Of 2026
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Breaking News: Expert Predicts Bitcoin Price Could Fall To $45,000 By End Of 2026

Ethereum Price Weekly Analysis – ETH/USD Remains Supported

Aayush Jindal
Aayush Jindal
Last Updated: April 2, 2018 6:20 am
2 mins read
Ethereum Price Weekly Analysis ETH USD

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Key Highlights

  • ETH price moved to and fro above the $250 level this past week against the US Dollar.
  • There is a crucial ascending channel forming with support at $282 on the 4-hours chart of ETH/USD (data feed via SimpleFX).
  • The pair might correct a few points towards $285-280, but it remains supported on the downside.

Ethereum price is slowly moving higher against the US Dollar, but declined versus Bitcoin. ETH/USD is showing positive signs, but buyers need to gain pace.

Ethereum Price Rise

There were a few swing moves in ETH price above $250 against the US Dollar. The price faced heavy offers and declined on the a few occasions from $305 and $310. However, one positive sign is the fact that the price remains in the bullish zone above $250 and the 100 simple moving average (H4). At the moment, there is a crucial ascending channel forming with support at $282 on the 4-hours chart of ETH/USD.

The channel support is also near the 100 simple moving average (H4) at $282.00. Therefore, the $282 level is very important. A break below the channel support at $282-280 and the 100 SMA might push the pair further lower. More importantly, the channel support is also near the 50% Fib retracement level of the last wave from the $250.73 low to $311.45 high.

Ethereum Price Weekly Analysis ETH USD

An intermediate support is near $288 and the 38.2% Fib retracement level of the last wave from the $250.73 low to $311.45 high. On the upside, the channel resistance is near $315.00. Before $315, the recent high at $311 might act as a resistance. Overall, buying dips towards the channel support or $288 might be considered as long as the price is above the 100 SMA (H4).

4-hours MACD – The MACD is slightly in the bullish zone.

4-hours RSI – The RSI is holding the 50 level.

Major Support Level – $282

Major Resistance Level – $315

 

Charts courtesy – SimpleFX

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Reason to trust

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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