Ethereum Price Analysis – Ether Recovering Step by Step Against the US Dollar – Ethereum Prediction
Ethereum price against the US Dollar is taking momentum, but the pair (ETH/USD) needs to climb over the $310 level to be in the bullish zone.
Support was found at $280, giving ETH an upward push after a descending trend.
On the hourly chart of ETH against the US Dollar, you can see a move above the bearish zone line at the $292 mark.
A slow but steady walk aiming for the above-ground of $300 resistance in the near future.
Ethereum Price Against the US dollar latest Development
A very fluctuating movement was experienced over the past few days over the $280 supporting zone for Ethereum price against the US dollar. After testing its waters the support level showed stable ground and it started an upward trend. The pair moved over the 23.6% Fib retracement level since the last descending flow between the $309.37 low to $309.37 high. That made more increase possible reaching over the $290 zone.
A surprising breakout happened at the $292 resistance line on the hourly chart so the price now is on strong feet increasing over that particular line and the 100 hourly moving average. Another indicator that sooner or later ETH price will be trying to climb higher and surge upwards is that for the moment it is over the 50% Fib retracement mark since the above mentioned declining flow ($309.37 – $309.37).
But in contrary, just to know the $292 and the 100 hourly moving averages are only support zones and in the case that the price find itself correcting lower it may find support above $290. However there is a higher chance with today’s trading over $302, the price could head towards the $309 level.
Hourly MACD – The MACD is placed nicely in the bullish zone.
Hourly RSI – The RSI is moving higher and currently above the 50 level.