The Rise of Ethereum Cannot Be Stopped! Here are the Next Levels, According to the Market Analyst
According to popular analyst Aayush Jindal, ETH price tested the $ 330 level and will likely continue to rise to $ 350.
- Ethereum is increasing and is currently trading well above the $ 300 level.
- The price traded at a new $ 330 monthly high and is currently making a lower correction.
- On the hourly chart of the ETH / USD pair (data flow over Kraken), there is a large increasing channel with support around $ 318.
- According to the analyst, the pair will continue to rise above $ 330 as long as it is above the $ 300 level.
Ethereum price rose sharply and exceeded critical resistances!
There has been a strong increase in Ethereum over the $ 280 resistance in the past few days . ETH price even settled above the $ 300 resistance and 100 hourly simple moving average. The bull action continued and the price settled above the $ 320 and $ 325 resistance levels. The price traded at a new high of $ 330 a month and is currently making a lower correction.
According to the initial support analyst, the move from $ 301 to $ 330 is close to the 23.6% Fib retracement level. According to the first major support analyst, it is near the $ 320 level. Also, a large rising channel is formed on the hourly chart of the ETH / USD pair with support near $ 318. If Ether price breaks channel support, it could fall to the $ 315 support zone, according to the analyst. This level is close to the 50% Fib retracement level of ETH. The next major support is near the $ 312 level, according to the analyst.
Here are the key levels Ethereum can see soon
Increasingly, the price faces a short-term hurdle near the $ 330 level, according to the analyst. According to the analyst, a successful break above the $ 330 resistance could open the doors for a push towards the $ 345 and $ 350 resistance levels.
Downward movement seems to prevent channel support and a big $ 315 move, according to the analyst. If the price cuts the $ 315 support, it could extend its decline, according to the analyst. According to the next major support analyst, it is close to the $ 300 level (pivot zone), below which the price will test the 100 hourly simple moving average at $ 290.
Current view of Ethereum price with technical indicators
Hourly MACD: MACD is accelerating in the bullish zone for ETH / USD.
Hourly RSI: The RSI for ETH / USD is currently well above the 60 level.
Major Support Level: $ 320.
Major Resistance Level – $ 330.