• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
Ethereum

Decision Time for Ethereum: Technicals Suggest a Crucial Breakout Pattern

Aayush Jindal by Aayush Jindal
3 years ago
in Ethereum, Technical analysis
Reading Time: 2 mins read

Ethereum is slowly moving into a positive zone above the $350 resistance against the US Dollar. ETH price must break the $362 and $365 resistance levels to continue higher.

  • Ethereum traded above the $350 and $355 resistance levels to move into a positive zone.
  • The price seems to be forming a support base above $350 and the 100 hourly simple moving average.
  • There is a key ascending channel forming with support near $352 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to continue higher if it clears the $362 and $365 resistance levels.

Ethereum Price is Showing Positive Signs

After surpassing the $335 hurdle, Ethereum extended its rise above the $350 resistance. ETH price even settled above the $350 resistance zone and the 100 hourly simple moving average to move into a positive zone.

There was a spike above the $360 level, but it seems like ether is facing hurdles near $362 and $365. Recently, there was a downside correction, but the price remained stable near $350. A swing low is formed near $348 and the recent high was near $360.

An initial support on the downside is near the $358 level or the 23.6% Fib retracement level of the recent rise from the $348 swing low to $360 high. It seems like there is a key ascending channel forming with support near $352 on the hourly chart of ETH/USD.

Ethereum

Ethereum price settles above $350. Source: TradingView.com

The channel support is close to the 50% Fib retracement level of the recent rise from the $348 swing low to $360 high. A breakout pattern seems to be forming with resistance near $362.

A clear break above the $362 and $365 resistance levels may perhaps open the doors for a larger increase. The next key resistance is near the $375 level, above which the bulls are likely to aim a test of the $400 resistance.

Downside Break in ETH?

If Ethereum fails to clear the $362 and $365 resistance levels, there is a risk of a downside break. The first key support is near the channel support and $352.

The main support is forming near the $350 level and the 100 hourly SMA. A successful close below the $350 support zone could open the doors for a larger decline towards the $335 support in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone.

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

Major Support Level – $350

Major Resistance Level – $362

Tags: ethereumethusdETHUSDT
Tweet123Share196ShareSend
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist. He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer. He also founded an IT company and works rigorously in providing high-quality software services. Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets. Follow him on Twitter @AayushJs.

Related Posts

Polkadot

Polkadot Experiences Correction After Reaching $5.54: What’s Next In Store?

2 hours ago
Ethereum

Ethereum Correction: Key Level Break Can Shift Price Course

11 hours ago
Ethereum (ETH) Block Size Surges

Ethereum’s Block Size Surges To 1-Month High – What This Means For ETH

11 hours ago
Cardano (ADA)

ADA Price (Cardano) Breaking This Resistance Could Spark Bullish Moves

11 hours ago
Ethereum

Ethereum Price Gearing For Another Lift-Off to $2K: Recovery Isn’t Over Yet

12 hours ago
Bitcoin

Bitcoin Price Prints Bullish Technical Pattern, Why Close Above $28,500 Is Critical

13 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Is InQubeta the Best Utility Crypto of 2023? Huge Growth...

    2 hours ago
  • Coinbase launches campaign to educate public on blockchain...

    3 hours ago
  • Utility Coins like Avorak AI will always outperform memes...

    3 hours ago
  • Expect Tremendous Returns for DigiToads (TOADS), Near...

    3 hours ago
  • OpenAI crypto project Worldcoin raises $115M Tradecurve to...

    4 hours ago

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.

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
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 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.