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Ethereum — Opinion — Blockchain — ETHUSD

Ethereum Price Analysis: ETH/USD moving into a positive zone.

,   and  Coinnounce Team
Ethereum price is traveling south versus the US Dollar and Bitcoin. ETH/USD could keep on moving down until the point that pu
Ethereum price is traveling south versus the US Dollar and Bitcoin. ETH/USD could keep on moving down until the point that purchasers take a solid stand.

Ethereum Price Key Features

  • Ethereum price picked up footing and exchanged over the $277 and $280 resistance levels against the US Dollar.
  • Yesterday’s examined imperative bearish pattern line was cleared with resistance close $273 on the hourly outline of ETH/USD (information feed through Kraken).
  • The pair exchanged as high as $288.58 and it is as of now adjusting lower towards $278-280.

Ethereum price is gradually moving into a positive zone against the US Dollar and bitcoin. ETH/USD must remain over the $275 support to ricochet back in the close term.

Ethereum Price Support Zone

Recently, we talked about an imperative resistance zone close to the $277 level for Ethereum price against the US Dollar. The ETH/USD combine figured out how to increase bullish energy as of late and prevailing with regards to clearing the $277 resistance. There was additionally a break and close over the $280 level in addition to the 100 hourly straightforward moving normal. It opened the entryways for more picks up and ethereum price cleared the $282 resistance.

The most critical move was over yesterday’s vital bearish pattern line with resistance close $273 on the hourly graph of ETH/USD. The match exchanged as high as $288.58 and it is right now amending lower. It has moved underneath the 23.6% Lie retracement level of the ongoing wave from the $269 low to $288 high. It could keep on moving down towards the $280 and $277 support levels where purchasers are probably going to develop. Additionally, the half Lie retracement level of the ongoing wave from the $269 low to $288 high is near $279. At long last, the 100 hourly SMA is situated close to the $276 level and a bullish pattern line.

ETHUSD Price Chart 28 August
ETHUSD Price Chart 28 August

Taking a gander at the graph, Ethereum price may well right lower towards $277, however, plunges are probably going to stay supported. On the upside, the price needs to move over the $285 and $288 levels to proceed towards the $295 and $300 levels.

Hourly MACD – The MACD is put in the bullish zone.

Hourly RSI – The RSI is currently well over the 50 level.

Significant Support Level – $277

Significant Resistance Level – $288

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