Ethereum price analysis: Slow and steady grind higher, some more gain in the days ahead

ETH gains, but stays in a range.
Exected to move higher slowly and gradually.

Manoj B Rawal Independent Analyst

Ethereum price pattern suggests it would continue to head up, inch by inch till it reaches some major resistance zones as the price of the second largest cryptocurrency has formed an ascending parallel channel.

ETH/USD is up more than 2 percent and above the round figure mark of $800, at $801. The crypto has formed an ascending channel on the hourly chart and continues to trade within that even as RSI enters overbought zone.

Next big resistances for ETH are at $900 and $980 where the crypto is expected to take rest a bit and might retrace too. Major support is around $710, higher high formed during this upmove from the pits.

ETH/USD hourly chart:

Author

Manoj B Rawal

Independent Analyst

Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.

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