• ETH/USD went up from $249 to $251.75 this Thursday.
  • ETH/USD has the potential to reach $300.

ETH/USD broke the $250-barrier and is currently trading for $251.75 as markets opened this Thursday. The daily confluence detector shows the lack of any significant resistance levels until $280. If the bulls can gain enough momentum, they will be able to breach the $300-level for the first time since September 2018.

ETH/USD Daily Confluence Detector

As per the daily confluence detector, the resistance level is at $252, which sees a confluence of 15-min previous high and 1-day pivot point resistance 3.

The support levels are at $235-$237, $227, and $220. The confluences at those levels are:

  • $235-$237: 1-month pivot point resistance 3, 15-min Bollinger band lower curve, 1-day pivot point resistance 2, and 1-hour Bollinger band middle curve.
  • $227: 1-day pivot point resistance 1.
  • $220: 50-day simple moving average (SMA 50), 1-day previous high, and SMA 200.
     

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