{"id":425753,"date":"2020-06-01T08:58:27","date_gmt":"2020-06-01T08:58:27","guid":{"rendered":"https:\/\/uniquehot.com\/?p=425753"},"modified":"2024-06-11T13:03:50","modified_gmt":"2024-06-11T13:03:50","slug":"ethereum-eth-break-above-250-seems-likely","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-eth-break-above-250-seems-likely\/","title":{"rendered":"Ethereum Just Saw Key Technical Breakout: Break Above $250 Seems Likely"},"content":{"rendered":"<p><em>Ethereum is trading in a strong uptrend above the $230 pivot zone against the US Dollar. ETH price is likely to continue higher above the $245 and $250 resistance levels.<\/em><\/p>\n<ul>\n<li>Ethereum started a downside correction from the $250 resistance zone.<\/li>\n<li>The price corrected below the $240 level, but it found support near the $230 level.<\/li>\n<li>There is a major bullish trend line forming with support near $232 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is likely to continue higher above the $245 and $250 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Could Revisit $250<\/h2>\n<p>Ethereum price is following a bullish path and it <a href=\"https:\/\/uniquehot.com\/2020\/05\/29\/ethereum-eth-rallies-above-220\/\" target=\"_blank\" rel=\"noopener \">recently surged above the $240 level<\/a>. ETH price gained pace and surged towards the $250 resistance zone, with a close above the 100 hourly simple moving average.<\/p>\n<p>A high was formed near $250 before ether price corrected lower. There was a break below the $240 level, but the $230 level acted as a strong support. A low is formed near $229 and the price is currently rising.<\/p>\n<p>There was a break above the $235 level and a connecting bearish trend line on the hourly <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"nofollow noopener\">chart<\/a> of ETH\/USD. The price spiked above the 50% Fib retracement level of the downward move from the $250 high to $229 low.<\/p>\n<figure id=\"attachment_425755\" aria-describedby=\"caption-attachment-425755\" style=\"width: 1942px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/Ethereum.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-425755\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/Ethereum.png?resize=1942%2C1143\" alt=\"Ethereum Price\" width=\"1942\" height=\"1143\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/Ethereum.png?w=1942 1942w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/Ethereum.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/Ethereum.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/Ethereum.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/Ethereum.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/Ethereum.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/Ethereum.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-425755\" class=\"wp-caption-text\">Ethereum Price<\/figcaption><\/figure>\n<p>However, the price seems to be struggling near the $240 level. It is close to the 61.8% Fib retracement level of the downward move from the $250 high to $229 low. If Ethereum gains pace above the $240 level, it is likely to revisit the $250 resistance zone.<\/p>\n<p>Any further gains could start <a href=\"https:\/\/uniquehot.com\/2020\/05\/31\/ethereum-eht-could-surge-to-300\/\" target=\"_blank\" rel=\"noopener \">another major rally<\/a> and the price might break the $260 and $265 levels in the coming sessions.<\/p>\n<h2>Dips Supported in ETH<\/h2>\n<p>If Ethereum fails to continue above the $240 level or $245, there might be another correction. An initial support is near the $235 level. The first major support is seen near the $232 level.<\/p>\n<p>There is also a major bullish trend line with support near $232 on the same chart. If the price breaks the trend line support and also clears the $230 level, there is a risk of a larger decline in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now well above the 50 level, with a minor bearish angle.<\/p>\n<p>Major Support Level \u2013 $232<\/p>\n<p>Major Resistance Level \u2013 $245<\/p>\n<p><a href=\"https:\/\/www.plus500.com\/?id=121277&amp;pl=2\" target=\"_blank\" rel=\"nofollow noopener\">Take advantage of the trading opportunities with Plus500<\/a><\/p>\n<p>Risk disclaimer: 76.4% of retail CFD accounts lose money.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is trading in a strong uptrend above the $230 pivot zone against the US Dollar. ETH price is likely to continue higher above the $245 and $250 resistance levels. Ethereum started a downside correction from the $250 resistance zone. The price corrected below the $240 level, but it found support near the $230 level. There is a major bullish trend line forming with support near $232 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to continue higher above the $245 and $250 resistance levels. Ethereum Price Could Revisit $250 Ethereum price is following a bullish path and it recently surged above the $240 level. ETH price gained pace and surged towards the $250 resistance zone, with a close above the 100 hourly simple moving average. A high was formed near $250 before ether price corrected lower. There was a break below the $240 level, but the $230 level acted as a strong support. A low is formed near $229 and the price is currently rising. There was a break above the $235 level and a connecting bearish trend line on the hourly chart of ETH\/USD. The price spiked above the 50% Fib retracement level of the downward move from the $250 high to $229 low. However, the price seems to be struggling near the $240 level. It is close to the 61.8% Fib retracement level of the downward move from the $250 high to $229 low. If Ethereum gains pace above the $240 level, it is likely to revisit the $250 resistance zone. Any further gains could start another major rally and the price might break the $260 and $265 levels in the coming sessions. Dips Supported in ETH If Ethereum fails to continue above the $240 level or $245, there might be another correction. An initial support is near the $235 level. The first major support is seen near the $232 level. There is also a major bullish trend line with support near $232 on the same chart. If the price breaks the trend line support and also clears the $230 level, there is a risk of a larger decline in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now well above the 50 level, with a minor bearish angle. Major Support Level \u2013 $232 Major Resistance Level \u2013 $245 Take advantage of the trading opportunities with Plus500 Risk disclaimer: 76.4% of retail CFD accounts lose money.<\/p>\n","protected":false},"author":67,"featured_media":425757,"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":[1946,8686,78803],"class_list":["post-425753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","category-analysis","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Just Saw Key Technical Breakout: Break Above $250 Seems Likely<\/title>\n<meta name=\"description\" content=\"Ethereum is trading in a strong uptrend above the $230 pivot zone against the US Dollar. 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ETH price is likely to continue higher above the $245 and $250\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/ethereum-eth-break-above-250-seems-likely\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-01T08:58:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:03:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/shutterstock_784986886-scaled.jpg?fit=2560%2C1707\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Aayush Jindal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@twitter.com\/AayushJs\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aayush Jindal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-eth-break-above-250-seems-likely\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-eth-break-above-250-seems-likely\/\"},\"author\":{\"name\":\"Aayush Jindal\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/1f8631be4d0868de3fd2f21f17d9ae70\"},\"headline\":\"Ethereum Just Saw Key Technical Breakout: Break Above $250 Seems Likely\",\"datePublished\":\"2020-06-01T08:58:27+00:00\",\"dateModified\":\"2024-06-11T13:03:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-eth-break-above-250-seems-likely\/\"},\"wordCount\":405,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-eth-break-above-250-seems-likely\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/shutterstock_784986886-scaled.jpg?fit=2560%2C1707\",\"keywords\":[\"ethereum\",\"ethusd\",\"ETHUSDT\"],\"articleSection\":[\"Cryptocurrency Market News\",\"Ethereum\",\"Technical analysis\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/uniquehot.com\/news\/ethereum-eth-break-above-250-seems-likely\/#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-eth-break-above-250-seems-likely\/\",\"url\":\"https:\/\/uniquehot.com\/news\/ethereum-eth-break-above-250-seems-likely\/\",\"name\":\"Ethereum Just Saw Key Technical Breakout: Break Above $250 Seems Likely\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-eth-break-above-250-seems-likely\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum-eth-break-above-250-seems-likely\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/shutterstock_784986886-scaled.jpg?fit=2560%2C1707\",\"datePublished\":\"2020-06-01T08:58:27+00:00\",\"dateModified\":\"2024-06-11T13:03:50+00:00\",\"description\":\"Ethereum is trading in a strong uptrend above the $230 pivot zone against the US Dollar. 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