Ethereum Price Setup for Increasement: ETH to Surge against the USD – Sep 12 Prediction
ETH/USD going to attempt important resistances for a breakout. As it did, major gain could be upcoming.
A step-by-step recovery after weekly struggle as its trading above $309.
Very important resistances forming on the hourly chart of ETH/USD at around $303 were cleared out.
After the breakout – the pair will be targeting $318.50.
Ethereum Price Recovering Strongly – Major Breakouts
Pressure and bearish flow was tanking the price towards $288 but it recovered and now it is on its right way. Important support was formed that hoisted the price up over the $290 and over the major $300 now.
Very important was the moment that the main resistance, just above the 76.4% Fib retracement level of the last decline – from $306.69 to $287.13 was cleared out and the price continued the trade upwards (the $303 mark). Even that a triangle pattern was formed with even two bearish trend lines as barriers, but the buyers did not stop. The next hurdle and struggle could be at around $318.50.
So, a bearish trend awaits at that particular mark if the pair does not meet selling pressure on the near term and the buyers can not keep it with stable ground.
Hourly MACD – The MACD is currently flat in the bullish zone.
Hourly RSI – The RSI is heading higher towards the 60 level.