RATE Group | Ethereum Price Analysis: ETH/USD Slowly Rising Towards $290-295
39886
wp-singular,post-template-default,single,single-post,postid-39886,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 Slowly Rising Towards $290-295

24 Aug Ethereum Price Analysis: ETH/USD Slowly Rising Towards $290-295

Posted at 05:41h in Ethereum News by

[ad_1]

Key Highlights

  • ETH price remained supported near $265 and it slowly moved above the $270 level against the US Dollar.
  • There is a short-term ascending channel forming with support at $271 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair might face hurdles on the upside near the $284 and $285 resistance levels.

Ethereum price is mostly trading in a range against the US Dollar and bitcoin. ETH/USD could slowly rise towards the $290 level with ranging moves.

Ethereum Price Resistances

After trading as low as $259.17, ETH price found support against the US Dollar. The ETH/USD pair started moving higher with most range moves above the $270 level. It cleared the 38.2% Fib retracement level of the last drop from the $301 swing high to $260 swing low. However, the upside move faced a lot of resistance near $280, $281, and 100 hourly simple moving average.

Moreover, the 50% Fib retracement level of the last drop from the $301 swing high to $260 swing low also acted as a strong…

[ad_2]

Source link