Ethereum price took two major attempts to overcome the $250 mark first against the US Dollar. The pair is aiming for the $300 mark after increasing past $280.
Ethereum Price Against US Dollar – ETH/USD Hurdle with Resistance
As mentioned in the previous daily Etherum analysis, the price will be attempting maybe twice or three times until the $300 mark is tested and possibly overcome. On its second session ETH price cleared the $250 struggle as its broke the 61.8% Fib retracement level since the previous descending flow from $281.31 to $199.74.
Clear bullish pattern indicators are forming as the pair ETH/USD is trading above the 76.4% Fib Retracement level of the above mentioned decline. A very important break above a bearish trend line took place at $262 on the hourly chart. The price is trading at $286.18 with almost 20 percentage point gain in the last 12-hours.
If the predictions are right and the momentum does not loos foot, a break attempt over the $300 could be happening in the near term. For now as longs as the pair trades over the $255 mark an optimistic feeling on gain should be taking place.
- Hourly MACD – The MACD is now placed well in the bullish zone.
- Hourly RSI – The RSI is heading into the overbought levels.
- Support Level – $260
- Resistance Level – $300