Ethereum price prediction: ETH/USD next wave of buying pressure above $280 – confluence detector


  • Ethereum is trading in the green late on Friday, up some 0.70%.
  • ETH/USD upside remains somewhat limited at present given strong supply around $280 territory, as seen via the daily.

Ethereum price on Friday has continued to move within consolidation mode, trading with minor gains of 0.70%. ETH/USD daily price action remains within a narrow range, but nevertheless moving within a bullish flag pattern.

ETH/USD bulls must break down the big supply zone seen at $280 territory, to move to greater heights. The next area of interest would be a retest of the $300 price territory, last traded her in May 2018.

In terms of key technical levels via the daily confluence detector to be aware of, to the upside; $258.51, monthly 23.6% Fibonacci and daily 38.2% Fibonacci. $271.88, weekly pivot point resistance and daily 161.8% Fibonacci. To the downside; $247.81, daily pivot point support, $242.46, weekly 23.6% Fibonacci.

ETH/USD daily confluence detector

 

 

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD $10,000 is hanging on for now but remains vulnerable

Bitcoin price on Thursday is trading in minor positive territory by 0.20%. BTC/USD has found critical support via the daily from an ascending trend line. Buyers are heavily trying to defend the $10,000 price area. Determination from the buyers can be observed around the $10,000 mark. The upside is limited near-term by an area of supply seen at $10,100-200 range. 

More Bitcoin News

BCH/USD produces double bottom, the price jumps 3%

BCH/USD has found some buying interest around the $300 price territory, hitting a double bottom formation. 

More Bitcoin Cash News

EOS/USD is heading for some serious technical levels

Price action points to a move higher but volumes dont confirm the move. Market found support at 3.30.

More EOS News

Another crypto futures exchange is soon to be announced

CoinFlex raise USD 10 million to create a futures exchange! Now Bakkt are finally launching their long-awaited futures exchange it seems that CoinFlex will be a serious rival.

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast

BTC

ETH

XRP