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.

ETC/USD

Overview
Today last price 11.9002
Today Daily Change -0.1261
Today Daily Change % -1.05
Today daily open 12.0263
 
Trends
Daily SMA20 11.4429
Daily SMA50 8.2884
Daily SMA100 6.2235
Daily SMA200 5.9031
 
Levels
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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Four reasons why XRP price could set new-all time high above $5

XRP price experienced a significant bull run as it rallied roughly 750% since 2021. However, due to the recent correction, Ripple’s year-to-date (YTD) performance is hovering around 268%.

More Ripple News

Shiba Inu price flashes first sign of reversal, eyes 38% upswing

Shiba Inu price dipped below the short-term governing range on June 11 as the crypto market experienced a minor sell-off. However, bulls have managed to push SHIB above the range high, indicating the resurgence of buyers.

More Shiba News

Ethereum might create another opportunity for buyers to kick-start new uptrend

Ethereum price is currently trading below a critical resistance level and is trying to breach past it. A decisive close above the swing high on June 9 will create a higher high and signal the start of an uptrend.

More Ethereum News

Cardano upswing hangs in balance, but on-chain metrics reveal trouble

Cardano price rose 12% after dipping below a crucial support level at $1.451. ADA is currently hovering inside a critical resistance level, ranging from $1.525 to $1.624. Only a decisive close above $1.636 will confirm the start of a run-up.

More Cardano News

BEST CRYPTO BROKERS/EXCHANGES



Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP