Ethereum Price Analysis: ETH/USD in a bullish zone, 17 August.

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Ethereum Price Key Features

  • Ethereum price is picking up energy and it could break the $304 resistance for more upsides against the US Dollar.
  • There was a break over a key bearish pattern line with resistance at $295 on the hourly chart of ETH/USD (information feed by means of Kraken).
  • The match may decay a couple of focuses towards $290 and $288 before moving higher in the close term.

Ethereum price is put pleasantly in a bullish zone against the US Dollar, yet it is battling versus bitcoin. ETH/USD may before long break $304 to pick up force.

Ethereum Price Pattern

There were, for the most part, extend moves over the $277 level in Ethereum price amid a previous couple of sessions against the US Dollar. The ETH/USD match shaped an average support close $277 and later began an upside move. It exchanged over the half Lie retracement level of the last drop from the $331 high to $250 low. There were a few bullish candles framed above $280, however, bulls neglected to pick up energy.

All the more imperatively, there was a break over a key bearish pattern line with resistance at $295 on the hourly chart of ETH/USD. The combine is presently exchanging over the $290 level and the 100 hourly basic moving normal. In the event that the ongoing break is valid and purchasers pick up footing, Ethereum price may well move past the $304 resistance. Over this, the following resistance is close to the 76.4% Lie retracement level of the last drop from the $331 high to $250 low. At last, Ethereum price may intend to test the last swing high at $331-332.

ETHUSD Price Chart 17 August
ETHUSD Price Chart 17 August

Taking a gander at the chart, Ethereum price is exchanging with a positive predisposition above $277-280. For the time being, there could be a modest bearish response, however, ethereum price is probably going to discover support close to the $282 and $277 levels.

Hourly MACD – The MACD is giving positive suggestions in the bullish zone.

Hourly RSI – The RSI is presently set well over the 50 level with a bullish point.

Real Support Level – $277

Real Resistance Level – $304

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