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Ethereum Price Analysis ETH/USD Rising Above $500, 18 July.

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Ethereum Price Key Highlights

  • Ethereum price surged higher and cleared a couple of critical protections to close $500 against the US Dollar.
  • Yesterday’s featured critical bullish pattern line is dynamic with support at $480 on the hourly graph of ETH/USD (information feed by means of Kraken).
  • The combine is put pleasantly over the $500 level and it is probably going to quicken higher in the close term.

Ethereum price is picking up force against the US Dollar and Bitcoin. ETH/USD is surging and it could before long break the $525 level for more upsides.

Ethereum Price Trend

Recently, there was a minor drawback remedy from the $480 obstruction in Ethereum price against the US Dollar. The ETH/USD combine revised lower and tried the $465 support region. It tried the 38.2% Fib retracement level of the last wave from the $443 low to $480 high. Purchasers showed up, secured promote misfortunes, and drove the ETH price back above $480. The ethereum price increased bullish energy and even broke the $500 opposition.

It exchanged as high as $513.65 and is at present redressing lower. It tried the 23.6% Fib retracement level of the last leg from the $465 low to $513 high. It appears like the $500 level is currently going about as a support and avoiding decreases. Beneath $500, the following support is close to the $490 level. Moreover, yesterday’s featured critical bullish pattern line is dynamic with support at $480 on the hourly graph of ETH/USD. By and large, the Ethereum price stays very much supported for more increases above $480. In the beginning, the present Ethereum price arrangement shows that the price could break the $513 high in the coming hours.

ETHUSD Price Chart 18 July
ETHUSD Price Chart 18 July

Taking a gander at the outline, Ethereum price is probably going to quicken towards the $525 level. Over this, the following stop for purchasers could be around $550. For the time being, there may well be a couple of descending spikes, which are probably going to discover offers close $500 and $480.

Hourly MACD – The MACD is set pleasantly in the bullish zone.

Hourly RSI – The RSI is right now well over the 70 level.

Major Support Level – $500

Major Resistance Level – $525

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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