Ethereum Price Prediction: ETH/USD readies for the ultimate lift-off to $340 – Confluence Detector

  • Ethereum seeks support below $320 after sellers gained traction from the new 2020 high around $320.
  • Ether could easily ascend to another new yearly high if bulls purpose on overcoming the falling triangle resistance.

Ethereum price hit a wall at the new 2020 high around $334. Bulls had a plan keep to keep the price above the support at $320, however, this dream was shattered when bearish pressure increased during the trading sessions on Tuesday. The second-largest cryptocurrency was then forced to seek refuge under $320. An intraday low of $312 has been traded on Wednesday (Asian session) but Ether has adjusted slightly upwards to $315 (prevailing market value).

Declines are likely to increase in the current and upcoming sessions based on the strong bearish grip coupled with high volatility. On the other hand, lower, price movements could bounce off support at $310 which is aided by the 100 SMA ($309.71). Consequently, a breakout is anticipated on overcoming the falling triangle resistance. Such a move would have the potential to clear the hurdle at $334 and trade a new yearly high past $340.

ETH/USD 1-hour chart

ETH/USD price chart

Ethereum resistance and support levels

Resistance one: $320 – Highlighted by the Fibo 61.8% one-day, the SMA ten 4-hour, the Bollinger Band one-day upper, the SMA 50 1-hour and the SMA 200 15-minutes.

Resistance two: $323 – Home to the BB 15-minutes upper curve, the pivot point one-week resistance two, the previous high 4-hour and the BB 1-hour upper curve.

Resistance three: $330 – Highlighted by the previous high one-day and the pivot point one-day resistance one.

Support one: $313 – This a subtle support that hosts the previous low 1-hour and the BB 15-minutes lower curve.

Support two: $307 – This is the strongest support area and home to the previous low one-day, the pivot point one-day support one and the SMA five one day.

Support three: $300.83 – This would be the last resort in keeping the price above $300. It is home to the BB 4-hour lower curve and the pivot point one-week resistance one.


More ETH/USD levels


Today last price 316.34
Today Daily Change -1.19
Today Daily Change % -0.37
Today daily open 317.53
Daily SMA20 259.22
Daily SMA50 243.63
Daily SMA100 226.66
Daily SMA200 205.44
Previous Daily High 327.38
Previous Daily Low 306.33
Previous Weekly High 287.74
Previous Weekly Low 233.4
Previous Monthly High 253.48
Previous Monthly Low 216.37
Daily Fibonacci 38.2% 314.38
Daily Fibonacci 61.8% 319.34
Daily Pivot Point S1 306.78
Daily Pivot Point S2 296.03
Daily Pivot Point S3 285.73
Daily Pivot Point R1 327.83
Daily Pivot Point R2 338.13
Daily Pivot Point R3 348.88



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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD bulls aim for $11,600, but strong resistance restricts movement

BTC/USD has gone up from $11,568.60 to $11,596 as bulls continue to flirt around the $11,600 line. As per the daily confluence detector, there are twBTC/USD has gone up from $11,568.60 to $11,596 as bulls ...

More Bitcoin News

Ripple Technical Analysis: Bullish recovery starts after two bearish days

XRP/USD bulls stage a comeback following two bearish days, taking the price up from $0.2822 to $0.2850. The buyers aim for the $0.29 resistance level as the price keeps trending in a downward ...

More Ripple News

ETH/USD to $1,000 by the end of 2020 – Derivative traders bet on Deribit

Ethereum is trading marginally below the coveted $400 level. This comes after an impressive recovery from support confirmed at $370 on Wednesday. On the upside, Ether recently traded new yearly highs at $415.

More Ethereum News

IOT/USD aims for $0.40 as Chrysalis update gears up to go live next week

IOTA is all set to launch the first phase of its Chrysalis project, the beginning of a series of upgrades leading up to IOTA 1.5. The new upgrade includes several improvements to the network.

More IOTA News


Bitcoin Weekly Forecast: BTC hit the pause button before a decisive breakthrough

Bitcoin lived through a wild roller-coaster move during the previous weekend. The coin hit the new 2020 high above $12,000 and crashed to $10,500 in a matter of hours. 

Read the weekly forecast