Ethereum Price Weekly Analysis: ETH/USD Consolidating Above $225

Key Highlights


ETH price made a nice upside move and traded above the $225 level against the US Dollar.
There was a break above a major contracting triangle with resistance at $228 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair is currently consolidating in a range above the $225 and $228 support levels.

Ethereum price is holding gains versus the US Dollar and Bitcoin. ETH/USD could trade further higher as long as it is above the $225 support.

Ethereum Price Analysis

This past week, there was a decent support base formed near the $215-216 zone in ETH price against the US Dollar. The ETH/USD pair started an upside move and broke the $218, $220 and $225 resistance levels. The price moved into a bullish zone above the $225 level. It also settled above the $220 pivot level and the 100 simple moving average (4-hours).

There was also a break above the 50% Fib retracement level of the last decline from the $256 high to $203 low. During the upside move, there was a break above a major contracting triangle with resistance at $228 on the 4-hours chart of ETH/USD. The pair tested the $235-236 resistance zone and it is currently consolidating gains. It seems like the 61.8% Fib retracement level of the last decline from the $256 high to $203 low is acting as a resistance. If there is a break above the $236 resistance, there could be more gains in the near term. On the other hand, dips towards the $225 level and the 100 simple moving average (4-hours) remains supported.

The above chart indicates that ETH price could climb further higher as long as the price is above $220 and $225. Below $220, the price could extend its slide towards the $216 support level.

4-hours MACD The MACD is slowly moving back into the bullish zone.

4-hours RSI The RSI is currently well below the 55 level.

Major Support Level $225

Major Resistance Level $236

The post Ethereum Price Weekly Analysis: ETH/USD Consolidating Above $225 appeared first on NewsBTC.

29.09.2018 / 23:35 44
Ethereum Classic Price Analysis: ETC/USD Eyes Upside Break above $13 Ethereum Classic Price Analysis:
Key Highlights Ethereum classic price formed a support base near $12.00 and moved higher against the US dollar. There was a break above a contracting
Ethereum Price Analysis: ETH/USD Consolidating Below $370 Ethereum Price Analysis: ETH/USD
Key Highlights ETH price started a minor upside correction and traded above the $362 level against the US Dollar. There is a key contracting triangle
Bitcoin Price Weekly Analysis: BTC/USDs Triangle Break Near Bitcoin Price Weekly Analysis:
Key Points Bitcoin price formed a decent support near $6,050 and recovered against the US Dollar. There is a key triangle forming with resistance
Ethereum Price Weekly Analysis: ETH/USD Eyeing Further Upsides Ethereum Price Weekly Analysis: ETH/USD
Key Highlights ETH price traded higher recently and broke the $470 resistance zone against the US Dollar. There is a key connecting bullish trend
Ethereum Price Weekly Analysis: ETH/USD Approaching Crucial Break Ethereum Price Weekly Analysis: ETH/USD
Key Highlights ETH price settled below the $600 support level with negative signs against the US Dollar. There is a crucial contracting triangle
Ethereum Price Analysis: Can ETH/USD Recover Further? Ethereum Price Analysis: Can ETH/USD
Key Highlights ETH price found support near the $677 level and started an upside correction against the US Dollar. There was a break above a
Comments (0)
Add a comment
Comment on