Ethereum Price Technical Analysis ETH/USD Recovers Positively

Key Highlights


ETH price made a nice upside move and broke the $648 resistance against the US Dollar.
There was a break above a consolidation triangle pattern at $632 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is currently trading above $648 and the 100 hourly simple moving average, indicating a bullish bias.

Ethereum price recovered positively against the US Dollar and Bitcoin. ETH/USD must break the $666 resistance to extend gains in the near term.

Ethereum Price Support

After a decline to $595, ETH price started trading in a range around the $615 level against the US Dollar. It formed a base around $615 and later an upside wave was initiated. The price moved higher and broke the 23.6% Fib retracement level of the last downside move from the $710 swing high to $595 low. It cleared the path for more gains and the price moved above $630.

The most crucial break was above a consolidation triangle pattern at $632 on the hourly chart of ETH/USD. The pair gained traction and moved above the $648 resistance and the 100 hourly simple moving average. A close above $648 is a positive sign and signals that the price is back in a bullish zone. At the moment, the price is struggling to break the 61.8% Fib retracement level of the last downside move from the $710 swing high to $595 low at $666. A break above the stated $666 level is needed for more upsides in the near term. Above $666, the price may head towards $685-690.

Looking at the chart, if the price corrects lower from the current levels, the broken resistance at $648 may act as a support. Moreover, the 100 hourly SMA at $640 is also a decent support. The overall bias is positive above the $640 support.

Hourly MACD The MACD is slowly moving in the bullish zone.

Hourly RSI The RSI is now well below the 60 level.

Major Support Level $640

Major Resistance Level $666

The post Ethereum Price Technical Analysis ETH/USD Recovers Positively appeared first on NewsBTC.

26.04.2018 / 23:05 29
Ethereum Classic Price Technical Analysis  ETC/USD Targets $20 Ethereum Classic Price Technical
Key Highlights Ethereum classic price is surging higher and is currently placed nicely above $17.00 against the US dollar. There was a break above a
Ethereum Price Technical Analysis  ETH/USDs Upside Drift Ethereum Price Technical Analysis
Key Highlights ETH price started a nice upside move and traded above the last swing high of $433.77 against the US Dollar. There is a new major
Ethereum Classic Price Technical Analysis  Can ETC/USD Break $15? Ethereum Classic Price Technical
Key Highlights Ethereum classic price started a nice upside reaction after trading as low as $13.02 against the US dollar. There was a break above a
Ethereum Price Technical Analysis  ETH/USD Could Break $500 Ethereum Price Technical Analysis
Key Highlights ETH price is under pressure as it moved below the $560 support level against the US Dollar. There was a break below a major bullish
Ethereum Price Technical Analysis  ETH/USD Struggling Near 100 SMA Ethereum Price Technical Analysis
Key Highlights ETH price is trading in a range above the $680 support level against the US Dollar. There is a contracting triangle forming with
Bitcoin Cash Price Technical Analysis  BCH/USD Trading Positively Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price is gaining upside momentum and is currently trading above $1,250 against the US Dollar. There was a break above a
Comments (0)
Add a comment
Comment on