• 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 Signaling Bullish Breakout: A Strong Case For Upside Above 100 SMA

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

Ethereum is recovering from the $225 support against the US Dollar. ETH price is now trading near the $230 level ad it seems like there are chances of more gains if it breaks the 100 SMA (H4).

  • ETH price is slowly gathering pace from the key $225 support area against the US Dollar.
  • It is now approaching the key $235 resistance and the 100 simple moving average (4-hours).
  • There was a break above a major declining channel or a bullish flag with resistance near $228 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair could start a strong increase if it closes above $232 and the 100 simple moving average (H4).

Ethereum Price Could Struggle Near 100 SMA

This past week, Ethereum grinded lower after it failed to clear the $235 resistance against the US Dollar. ETH price broke the $230 support level and settled well below the 100 simple moving average (4-hours).

However, the $225 support zone acted as a strong buy zone. A low is formed near $224 and the price started a steady increase. There was a break above the $228 resistance, plus the 23.6% Fib retracement level of the downward move from the $237 high to $224 low.

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

There was also a break above a major declining channel or a bullish flag with resistance near $228 on the 4-hours chart of ETH/USD. It has opened the doors for more gains above the $230 level.

Ethereum Price

Ethereum price trades below $230. Source: TradingView.com

Ether price is currently showing a lot of positive signs and it might continue to rise towards the $232 resistance and the 100 simple moving average (4-hours). The 50% Fib retracement level of the downward move from the $237 high to $224 low might also act as a resistance.

The main resistance is still near the $235 level. A successful close above the $235 resistance could lead the price further higher. The next major resistance is seen near the $240 level, above which it could test $250.

Fresh Drop in ETH?

On the downside, there are many important supports forming near the $228 and $225 levels. If Ethereum fails to clear the 100 SMA, there are chances of a fresh drop below $228.

A downside break below the $225 support zone could accelerate decline in ether. Any further losses might open the doors for a push towards $218 or even $205.

Technical Indicators

4 hours MACD – The MACD for ETH/USD is slowly gaining in the bullish zone.

4 hours RSI – The RSI for ETH/USD is currently just above the 50 level.

Major Support Level – $225

Major Resistance Level – $235

Take advantage of the trading opportunities with Plus500

Risk disclaimer: 76.4% of retail CFD accounts lose money.

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

TA: Bitcoin Consolidates Above $50K Why BTC Could Face Bears At $52K

1 hour ago
Cardano (ADA)

Charted: Cardano (ADA) Remains Strong Above 100 SMA, Why It Could Rally Again

21 hours ago
Ethereum

TA: Ethereum Recovers Above $1,600, Why ETH Could Retest $1,500

23 hours ago
Bitcoin

TA: Bitcoin Recovers From $45K, Why It Could Struggle Near $52K

1 day ago
bitcoin bear market

This Unique Take On Bitcoin Suggests A Bear Phase Is Near

1 day ago
bitcoin

Elon Musk Trolls Peter Schiff After the Gold Bug Bashes Tesla’s Bitcoin Buy

1 day 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

Oxygen Protocol to List OXY Tokens on BitMax

February 24, 2021

HOPR Hosts Global Token Launch Event on February 24th after First-Of-Its-Kind DAO Experiment

February 24, 2021

Egoras- a Decentralized Finance Ecosystem for Growing Markets!

February 23, 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.