• 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
  • Gamble +Try
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
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Ethereum

Ethereum Rallies 5%: Here’s What Could Lead It To $500 Milestone

Aayush Jindal by Aayush Jindal
6 months ago
in Ethereum, Technical analysis
Reading Time: 2min read
Ethereum
Advertisement

Ethereum extended its rally by 5% and it broke the $440 resistance against the US Dollar. ETH price is likely to break the $450 resistance, above which the bulls might aim $500.

  • Ethereum is gaining momentum above the key $430 and $435 resistance levels.
  • The price is now trading well above the $430 level the 100 hourly simple moving average.
  • There is a crucial bullish trend line forming with support near $438 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could correct a few points, but the bulls seem to be aiming a sharp increase above $450.

Ethereum Price Climbs Towards $450

In the weekly analysis, we discussed the chances of a big reaction from Ethereum bulls above $408 against the US Dollar. ETH price did break the $408 resistance and it even climbed above the $425 resistance level (as discussed in yesterday’s analysis).

Ether price is now up 5% and it even surpassed the $440 resistance. A new multi-week high is formed near $448 and the price is currently consolidating gains.

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

An initial support is near the $443 level since it is close to the 23.6% Fib retracement level of the recent rally from the $428 swing low to $448 high. There is also a crucial bullish trend line forming with support near $438 on the hourly chart of ETH/USD.

Ethereum

Ethereum price trades above $440. Source: TradingView.com

The trend line coincides with the 50% Fib retracement level of the recent rally from the $428 swing low to $448 high. On the upside, the price is facing hurdles near $448 and $450. A successful close above the $450 resistance could open the doors for another 5% rally.

The next key resistance is likely to be $465 or $470. In the mentioned case, there are chances of a sharp increase towards the $488 and $500 resistance levels in the near term.

Downsides Are Likely To Be Supported in ETH

If Ethereum fails to clear the $450 resistance, it could start a downside correction. The first key support is near the trend line and the $438 level.

A downside break below the trend line support might start an extended downside correction below $435. The next key support for the bulls could be near the $425 level.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is currently gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is slowly moving into the overbought zone.

Major Support Level – $438

Major Resistance Level – $450

Tags: ethereumethusdETHUSDT
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

bitcoin bid side macro

Bid Side In Bitcoin Disappears Amidst Jittering “Macro Environment”

13 hours ago
bitcoin dollar

Dollar, Divergences, & More: Here’s Why Bitcoin Could Soon Bounce

18 hours ago
Binance Coin (BNB)

Charted: Binance Coin (BNB) Steadies Above $200, Why It Could Rally Again

1 day ago
Ethereum

TA: Why Ethereum Below $1,400 Could Spark A Sharp Decline

1 day ago
Bitcoin

TA: Why Bitcoin Price Is At Risk of A Drop Below $45,000

1 day ago
bitcoin overvalued stock to flow

Bitcoin Currently Overvalued By Stock-To-Flow Standards

2 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

Bitcoin Gaming Platform FreeBitco.in Acquires 3.75 Billion FUN Tokens

February 26, 2021

60-Minute IFO, 187 Times Over-Raised, 40 Times the Price, 98 Million US Dollar Marketcap: Berry Data Has Become a Bright Star on BSC

February 26, 2021

Get Your Brand New Tokens on Defiqa’s Presale

February 26, 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
  • Gamble +

© 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.