Ethereum Price Analysis: Ether Upside But Slow Weekly Movement – Forecast

ethereum analysis

For a week now, Ethereum price against the US Dollar is experiencing an up-trending channel, but to continue the same – more stable ground is needed.

Major Points

  • A very range bound climbing path movement over the $316 mark but with a little of struggle.
  • Supports found at $330 and $310 on the 4-hours chart of ETH/USD.
  • To continue gaining, we need to overcome the selling pressure awaiting at around the $344 zone.

Ethereum Price Gaining But With Struggle

In general the week we just left behind could be described as Ethereum against the US Dollar increase-ranging with a bullish tone over the $310 mark. In many events it did feel the selling pressure and declined lower but supports held strong enough as per the moment it is trading around $337.10 with a 1.90 percentage points climb in the last 24 hours.

ether price

With supporting marks at $330 and $310, two bullish trends are forming on the 4-hours chart of Ethereum price against the USD. It is trading for the moment over the 50% FIb retracement level since the last flow from $344-$289 so it is indicating gaining factors, but to break the $344 as the previous highest mark, we need to take upside strength over the $340 level and than afterwards targeting $350 can be predicted.

ethereum prediction

In the best terms, in case there is a close over the $344 mark, major upward climbs will be experienced as for quick term – $350 and longer $370.

  • 4-hours MACD – The MACD is moving nicely in the bullish zone.
  • 4-hours RSI – The RSI is well above 50 level and slowly moving higher.
  • Support Level – $310
  • Resistance Level – $344

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