RATE Group | Ethereum Price Analysis: Can ETH/USD Hold Gains Above $275?
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Ethereum Price Analysis: Can ETH/USD Hold Gains Above $275?

28 Aug Ethereum Price Analysis: Can ETH/USD Hold Gains Above $275?

Posted at 14:29h in Ethereum News by

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Key Highlights

  • ETH price gained traction and traded above the $277 and $280 resistance levels against the US Dollar.
  • Yesterday’s discussed important bearish trend line was cleared with resistance near $273 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair traded as high as $288.58 and it is currently correcting lower towards $278-280.

Ethereum price is slowly moving into a positive zone against the US Dollar and bitcoin. ETH/USD must stay above the $275 support to bounce back in the near term.

Ethereum Price Support Zone

Yesterday, we discussed an important resistance zone near the $277 level for ETH price against the US Dollar. The ETH/USD pair managed to gain bullish momentum recently and succeeded in clearing the $277 resistance. There was also a break and close above the $280 level plus the 100 hourly simple moving average. It opened the doors for more gains and the price cleared the $282 resistance.

The most important move was above yesterday’s important bearish…

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