Ethereum Price Prediction: ETH/USD faces multiple resistances on its path to $300
|- ETH/USD went up from $264.75 to $267 this Friday.
- Bulls face resistances of differing intensities.
Ethereum bulls continue to have a stranglehold on the market as they aim for $300. The daily confluence detector shows that the price is currently facing four distinct resistance levels on its path to $300. While the resistances are of differing intensities, the bulls still have quite a task ahead of them.
ETH/USD Daily Confluence Detector
The resistance levels are at $265, $274, $280, and $294. The confluences at those levels are:
- $265: 10-day simple moving average (SMA 10) and SMA 5.
- $274: Pivot point 1-Day resistance 2.
- $280: 4-hour previous high and 4-hour Bollinger band upper curve.
- $294: Pivot point 1-Day resistance 3.
The support levels are at $262, $250, $243, $238-$241, and $237. The confluences at those levels are:
- $262: Hourly Bollinger band middle curve and pivot point 1-Day resistance 1.
- $250: 1-Day previous high and SMA 10.
- $243: Daily 23.6% Fibonacci retracement level.
- $238-$241: Daily 38.2% Fibonacci retracement level.
- $237: 1-Month pivot point resistance 3.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.