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Ethereum Price Going for the $300 test – Daily Analysis Upward Prediction

Ethereum price took two major attempts to overcome the $250 mark first against the US Dollar. The pair is aiming for the $300 mark after increasing past $280.

Ethereum Price Against US Dollar – ETH/USD Hurdle with Resistance

As mentioned in the previous daily Etherum analysis, the price will be attempting maybe twice or three times until the $300 mark is tested and possibly overcome. On its second session ETH price cleared the $250 struggle as its broke the 61.8% Fib retracement level since the previous descending flow from $281.31 to $199.74.

Clear bullish pattern indicators are forming as the pair ETH/USD is trading above the 76.4% Fib Retracement level of the above mentioned decline. A very important break above a bearish trend line took place at $262 on the hourly chart. The price is trading at $286.18 with almost 20 percentage point gain in the last 12-hours.

ethereum prediction

Source: Coinmarketcap

If the predictions are right and the momentum does not loos foot, a break attempt over the $300 could be happening in the near term. For now as longs as the pair trades over the $255 mark an optimistic feeling on gain should be taking place.

  • Hourly MACD – The MACD is now placed well in the bullish zone.
  • Hourly RSI – The RSI is heading into the overbought levels.
  • Support Level – $260
  • Resistance Level – $300

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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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