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

ethereum price analysis and 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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