Ethereum Price Analysis: ETH/USD faces the ultimate resistance at $280 amid calls to hit $300

  • Ethereum price is in the hands of the bulls amid calls for advancement above the psychological $300.
  • The RSI alongside other technical indicators signal that the bulls have the joystick but the path of least resistance is sideways.

Spot rate: $268

Relative change: -0.4024

Percentage change: -0.15

Trend: Bullish

 Volatility: Expanding

ETH/USD daily chart

Ethereum's ongoing bullish action is still mainly dependent on the breakout from a falling wedge pattern whose formation began during the retracement witnessed from June 2019’s highs above $360. The digital asset has risen above key resistance areas in January and February including $140, $260 and $270. However, the sellers’ congestion zone at $280 is proving to be an uphill task. A break past this zone is likely to stir up growth towards $300 and $360 respectively.

ETH/USD 4-hour chart

Ethereum price seems to be settling in a new consolidation range between $260 and $270. This follows a rejection from levels around $275 to $256 on Thursday. A shallow recovery reclaimed the position above $260 but failed to break the resistance at $270. ETH/USD is dancing at $267 while fighting to stay above a short term trendline (dotted). The bulls are largely in control but the push from sellers cannot be ignored. Therefore, identified support areas include the $260, $240, the 50 SMA, $230 and $220.


Today last price 11.9002
Today Daily Change -0.1261
Today Daily Change % -1.05
Today daily open 12.0263
Daily SMA20 11.4429
Daily SMA50 8.2884
Daily SMA100 6.2235
Daily SMA200 5.9031
Previous Daily High 13.0525
Previous Daily Low 11.3847
Previous Weekly High 13.1888
Previous Weekly Low 11.0306
Previous Monthly High 12.8687
Previous Monthly Low 4.1882
Daily Fibonacci 38.2% 12.0218
Daily Fibonacci 61.8% 12.4154
Daily Pivot Point S1 11.2565
Daily Pivot Point S2 10.4867
Daily Pivot Point S3 9.5887
Daily Pivot Point R1 12.9243
Daily Pivot Point R2 13.8223
Daily Pivot Point R3 14.5921



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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Market share war shakes crypto market

Ethereum confirms the market's weakness in the short term as it closed yesterday at the price level of $195.5. Closing below the $200 level with such a small margin shows that the bulls are not in the business of defending the price structure to keep it up.

More Ethereum News

BCH/USD drawing nigh to $230 seller congestion

Bitcoin Cash has bounced off the support zone between $220 and $225. This cryptocurrency like many others, extended the bearish action during the weekend session. 

More Bitcoin Cash News

ETH/USD makes its way above $200, the recovery is slow

Ethereum bears took ETH price below psychological $200 on Monday, but a fresh buying interest located around this level helped to push the price back inside the previous consolidation range.

More Ethereum News

ADA/USD may retreat to $0.0450 before another bullish wave

Cardano (ADA) hit the intraday low of $0.0509 during early Asian hours and recovered to $0.0532 by press time. Despite the recovery, the coin is still nearly 7% lower from this time on Sunday.

More Cardano News


Bitcoin Weekly Forecast: BTC bulls are nowhere to be seen

Bitcoin attempted a recovery towards $10,000 but ended up at $9,100. The first digital asset printed the second red candle on a weekly chart. It is an alarming signal for the long-term bull as BTC may be vulnerable to deeper losses.

Read the weekly forecast