RATE Group | Ethereum Price Analysis: ETH/USD Surging, Can Buyers Hold Gains?
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Ethereum Price Analysis: ETH/USD Surging, Can Buyers Hold Gains?

22 Aug Ethereum Price Analysis: ETH/USD Surging, Can Buyers Hold Gains?

Posted at 07:55h in Ethereum News by

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Key Highlights

  • ETH price found support near $271-272 and started an upward move against the US Dollar.
  • Yesterday’s highlighted key bearish trend line with resistance at $281 was breached on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair traded above the $290 and $295 levels, but sellers appeared near the $300 level.

Ethereum price is slowly gaining momentum against the US Dollar and bitcoin. ETH/USD is now placed nicely in a positive zone above the $284 level.

Ethereum Price Support

After trading as low as $268.13, ETH formed a base for an upward move against the US Dollar. The ETH/USD pair started trading higher and gained momentum above the $278 and $284 resistance levels. The price also surged above the $290 level and settled above the 100 hourly simple moving average. More importantly, the price moved past the 50% Fib retracement level of the last decline from the $306 high to $268 low.

Additionally, yesterday’s highlighted key bearish trend line with resistance at…

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