What Levels Can Ethereum Price See Today?
Ethereum price corrected lows but found strong support at $ 465 against the US Dollar. Ethereum price is currently rising and likely to climb towards $ 500, according to successful analyst Aayush Jindal.
- Ethereum price shows many positive signs and is currently well above the $ 465 support level.
- The price is trading above the $ 480 resistance and the 100 hourly simple moving average.
- There was a break above a major contract triangle with resistance near $ 478 on the hourly chart of ETH / USD (data flow via Kraken).
- The pair could steadily rise towards the $ 495 and $ 500 levels in the near term.
Analyst: Ethereum price signals bullish! Here are the target levels
Ethereum price corrected below the $ 475 level, but the bulls were able to protect the $ 465 zone. Ethereum price seems to form a strong support base above the $ 465 level and the 100 hourly simple moving average. Before the price soared, the last level of volatility was around $ 470. Then there was a break above the $ 475 and $ 480 resistance levels.
More importantly, there was a break above a major contract triangle with resistance near $ 478 on the hourly chart of the ETH / USD pair. Ethereum price climbed above $ 485 and tested the $ 490 zone. Currently, ETH is consolidating gains and is trading near the 23.6% Fib retracement level of the last upward move from $ 470 to $ 489.
Here are the critical levels Ethereum can see in the short term.
The first major support is near the $ 480 level, according to the analyst. This level is near the 50% Fib retracement level of the upward move from $ 470 to $ 489. On the upside, the $ 490 level is a short-term resistance. An open break above the recent high could open the doors for further bullishness towards the $ 495 and $ 500 levels, according to the analyst. The next target for bulls could be $ 520, according to the analyst.
If Ethereum starts a fresh drop at $ 490 or $ 495, it is likely to find support around $ 480. The first major support below $ 480 is close to the $ 472 level as it is close to the 100 hourly simple moving average, according to the analyst. The main support is $ 465, according to the analyst. A successful close below the $ 465 support level could initiate a significant drop and ETH could drop towards the $ 450 level, according to the analyst.
Current outlook of Ethereum price with technical indicators
Hourly MACD: The MACD for ETH / USD is slowly losing momentum in the bullish zone.
Hourly RSI: The RSI for ETH / USD is currently just below the 50 level.
Major Support Level: $ 470.
Major Resistance Level: $ 525.