Ethereum Price Analysis: ETH/USD quite a slow rise, 24 August.

Ethereum Price Key Features

  • Ethereum price stayed supported close $265 and it gradually moved over the $270 level against the US Dollar.
  • There is a transient rising channel shaping with support at $271 on the hourly chart of ETH/USD (information feed by means of Kraken).
  • The combine may confront leaps on the upside close to the $284 and $285 resistance levels.

Ethereum price is generally exchanging a range against the US Dollar and bitcoin. ETH/USD could gradually ascend towards the $290 level with extending moves.

Ethereum Price Resistances

Subsequent to exchanging as low as $259.17, Ethereum price discovered support against the US Dollar. The ETH/USD match began moving higher with most range moves over the $270 level. It cleared the 38.2% Lie retracement level of the last drop from the $301 swing high to $260 swing low. Be that as it may, the upside move confronted a great deal of resistance close $280, $281, and 100 hourly straightforward moving normal.

In addition, the half Lie retracement level of the last drop from the $301 swing high to $260 swing low likewise went about as a solid resistance. Ethereum price is as of now exchanging a range over the $270 level, however, there are a couple of positive signs also. There is likewise a transient climbing channel framing with support at $271 on the hourly chart of ETH/USD. On the upside, the price needs to break the $281 resistance and move over the 100 hourly SMA to pick up footing. Over this, the price is probably going to test the $290 resistance in the close term. On the drawback, the channel support is at $271, underneath which, the price may decrease back to $260.

ETHUSD Price Chart 24 August
ETHUSD Price Chart 24 August

Taking a gander at the chart, Ethereum price is probably going to battle close to the $281 resistance and the 100 hourly SMA. Having said that, the price may well gradually and relentlessly ascend towards the $290 level in the close term.

Hourly MACD – The MACD is gradually moving in the bullish zone.

Hourly RSI – The RSI is put simply over the 50 level.

Significant Support Level – $271

Significant Resistance Level – $281