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

 

 

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