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Ethereum Price Daily Analysis – Ether Against the Dollar Re-Climbing its Way Up – Ethereum Prediction

Ethereum price is taking safe and positive steps towards higher marks as the price surges against the Dollar and might reach as price prediction go – $315.

Major Points

  • The low price ether is being traded has started a correction – $286.
  • $313-316 could be the next target as ETH/USD moving higher.

Swinging high close to $315.

Ether Price Resistance – Barrier Mark

A descending trend was going on the end of the last week as Ethereum was being traded lower than $290 – even reaching $286 in which case the flow found support to move up. The increase has shown itself to move later over the $290 resistance mark as it was flowing above the 23.6% Fibonacci retracement line related to the last downward flow from $317.74 to around $286.

By analyzing the ETH/USD hourly changing chart, you will notice a break out over a steep bearish trend line which resisting indicator was at around $293.50. That certain line continued to do change over $295 and made it possible for more recovery to come.

For now it is being traded close to 61.8% Fib retracement level of the last descending path as mentioned before – from $317.74 to around $286 low.

ethereum price chart prediction

Source: SimpleFx

On the upside, there are chances of ETH price testing the last swing area of $315. There are two important resistances at $313 and $316. So, it would be interesting to see whether sellers are able to protect gains above $316 in the near term.

Hourly MACD – The MACD is about to move from the bearish to bullish zone.

Hourly RSI – The RSI has moved above the 50 level.

Major Support Level – $298

Major Resistance Level – $316


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About author

Writer, EthereumWorldNews | samquinn@ethereumworldnews.com - Sam is an electrical engineer with years of passion writing for subjects that target or approximately do, his field of study. Now he is a full time writer for the team of Ethereum World News.
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