RATE Group | Ethereum Price Analysis: ETH/USD Poised for More Upsides
39080
wp-singular,post-template-default,single,single-post,postid-39080,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Ethereum Price Analysis: ETH/USD Poised for More Upsides

17 Aug Ethereum Price Analysis: ETH/USD Poised for More Upsides

Posted at 09:00h in Ethereum News by

[ad_1]

Key Highlights

  • ETH price is gaining momentum and it could break the $304 resistance for more upsides against the US Dollar.
  • There was a break above a key bearish trend line with resistance at $295 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair might decline a few points towards $290 and $288 before climbing higher in the near term.

Ethereum price is placed nicely in a bullish zone against the US Dollar, but it is struggling versus bitcoin. ETH/USD may soon break $304 to gain momentum.

Ethereum Price Trend

There were mostly range moves above the $277 level in ETH price during the past few sessions against the US Dollar. The ETH/USD pair formed a decent support near $277 and later started an upside move. It traded above the 50% Fib retracement level of the last drop from the $331 high to $250 low. There were a couple of bullish candles formed above $280, but bulls failed to gain momentum.

More importantly, there was a break above a key bearish trend line with resistance at…

[ad_2]

Source link