Ethereum Price Analysis: ETH/USD gaining slow momentum, 22 August.

Ethereum Price Key Features

  • Ethereum price discovered support close $271-272 and began an upward move against the US Dollar.
  • Yesterday’s featured key bearish pattern line with resistance at $281 was broken on the hourly chart of ETH/USD (information feed through Kraken).
  • The match exchanged over the $290 and $295 levels, yet dealers showed up close to the $300 level.

Ethereum price is gradually picking up energy against the US Dollar and bitcoin. ETH/USD is currently put pleasantly in a positive zone over the $284 level.

Ethereum Price Support

Subsequent to exchanging as low as $268.13, Ethereum price shaped a base for an upward move against the US Dollar. The ETH/USD match began exchanging higher and picked up force over the $278 and $284 resistance levels. The price additionally flooded over the $290 level and settled over the 100 hourly straightforward moving normal. All the more critically, Ethereum price moved past the half Lie retracement level of the last decay from the $306 high to $268 low.

Moreover, yesterday’s featured key bearish pattern line with resistance at $281 was ruptured on the hourly chart of ETH/USD. The combine is presently put pleasantly over the $284 level, which is a positive sign. The ongoing upside move discovered merchants close to the $300-301 zone. Ethereum price withdrew and is as of now exchanging underneath the $295 level. Venders pushed the price beneath the 23.6% lie retracement level of the last wave from the $268 low to $301 high. On the drawback, the following support is close to the $288 level and the 100 hourly SMA. Underneath this, the following significant support is close to the $284 level, which is likewise a rotate level.

ETHUSD Price Chart 22 August
ETHUSD Price Chart 22 August

Taking a gander at the chart, Ethereum price is exchanging with bullish moves above $282. On the upside, the price needs to move over the $295 and $300 resistances for more picks up in the close term.

Hourly MACD – The MACD has moved back strongly in the bullish zone.

Hourly RSI – The RSI is presently well over the 55 level.

Significant Support Level – $284

Significant Resistance Level – $301

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