Ethereum Price<\/figcaption><\/figure>\nIn the mentioned case, the price is likely to continue higher towards the $295 and $300 levels. Any further gains could lead the price towards the $308 level.<\/p>\n
Dips Remain Attractive<\/h2>\n If the price fails to continue above the $288 resistance, it may perhaps correct a few points. However, Ethereum is likely to remain well bid above the $275 and $270 levels.<\/p>\n
An intermediate support is near the 50% Fib retracement level of the recent rise from the $259 low to $286 high. The main support on the downside is near the $266 level and the 100 hourly SMA, below which the bulls are likely to struggle in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly moving into the bearish zone.<\/p>\nHourly RSI – <\/strong>The RSI for ETH\/USD is currently rising and it is well above the 60 level.<\/p>\nMajor Support Level \u2013 $272<\/p>\n
Major Resistance Level \u2013 $288<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum jumped back above $260 and $270 against the US Dollar. ETH price is now consolidating above $275 and it could soon surpass the $288 resistance area. Ethereum is back in a positive zone, with a strong bullish bias above $275 against the US Dollar. The price is likely to accelerate gains towards the $300 level in the near term. There is a short term contracting triangle forming with resistance near $284 on the hourly chart of ETH\/USD (data feed via Kraken). Bitcoin price is up around 4% and it is now trading nicely above the $10,000 resistance area. Ethereum Price Could Soon Test $300 Since the start of the month, we discussed the chances of Ethereum hitting the $300 level against the US Dollar. Recently, ETH price corrected sharply towards the $230 support and broke the 100 hourly simple moving average. However, it remained well bid above $230 and started a strong rise. It is back above the $260 and $270 resistance levels. Moreover, it surpassed the $280 resistance and settled above the 100 hourly simple moving average. It even spiked above $285, but failed to revisit the $288 resistance area. A swing high is formed near $286 and the price is currently consolidating gains. There was a break below the 23.6% Fib retracement level of the recent rise from the $259 low to $286 high. More importantly, there is a short term contracting triangle forming with resistance near $284 on the hourly chart of ETH\/USD. If Ethereum clears the triangle resistance, there are high chances of more gains above the $288 resistance area. In the mentioned case, the price is likely to continue higher towards the $295 and $300 levels. Any further gains could lead the price towards the $308 level. Dips Remain Attractive If the price fails to continue above the $288 resistance, it may perhaps correct a few points. However, Ethereum is likely to remain well bid above the $275 and $270 levels. An intermediate support is near the 50% Fib retracement level of the recent rise from the $259 low to $286 high. The main support on the downside is near the $266 level and the 100 hourly SMA, below which the bulls are likely to struggle in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly moving into the bearish zone. Hourly RSI – The RSI for ETH\/USD is currently rising and it is well above the 60 level. Major Support Level \u2013 $272 Major Resistance Level \u2013 $288<\/p>\n","protected":false},"author":67,"featured_media":415136,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,13625,4],"tags":[8323,1946],"class_list":["post-415134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","category-analysis","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n
Ethereum Trend Overwhelmingly Bullish: Here\u2019s Why ETH Could Rally Past $300<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n