Ethereum price prediction: ETH/USD has growth potential till $290 - Confluence detector

Following a bearish Thursday, wherein ETH/USD crashed from $269.75 to $254.25, the bulls managed to recover some ground on Friday as the price went up by 4.5% to $265.50. It looks like more growth may be in store this Saturday as the daily confluence detector shows us that ETH/USD lacks strong resistance levels until $290. The price also happens to be supported by healthy support levels from $258-$261.

ETH/USD daily confluence detector

Resistance levels are at $269 and $290. The confluences at those levels are:

• $269: 15-min previous high, 1-hour previous high, 4-hour previous high, 1-day previous high, 100-day simple moving average (SMA100) curve and 4-hour Bollinger band middle curve.
• $290: Previous month high, previous week high and 4-hour Bollinger band upper curve.

Support levels are at $258-$261 and $240. The confluences at those levels are:

• $258-$261: Daily 38.2% Fibonacci retracement level, SMA 10, 4-hour previous low, SMA 5, hourly Bollinger band middle curve, monthly 23.6% Fibonacci retracement level, weekly 61.8% Fibonacci retracement level and 15-min Bollinger band lower curve.
• $240: Monthly 38.2% Fibonacci retracement level and previous week low.