Ethereum price is trading with a positive bias above the $300.00 pivot level. ETH price seems to be sighting a solid increase towards $340.00 or even $350.00 in the coming days.

  • Ethereum price recovered nicely after settling above the $300.00 pivot level.
  • ETH/USD is following a connecting bullish trend line with support at $307.50 on the 30-minute chart.
  • The price is currently moving higher and it is likely to break the $315.00 and $320.00 resistances.

Ethereum Price

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Ethereum Price Analysis (ETH to USD)

After a downside correction, bitcoin and Ethereum found support near $10,500 and $292.00 respectively. ETH price recovered nicely and traded above the $300.00 pivot level to move back in a positive zone.

Ethereum Price Analysis (ETH to USD) Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair settled above the $300.00 and $302.00 levels to start a fresh increase. Besides, there was a break above the 61.8% Fib retracement level of the last decline from the $322.00 high to $292.09 low.

The price is now trading well above the $308.00 level and the 25 simple moving average (30-min). An immediate resistance is near the $315.00 level.

Moreover, the 76.4% Fib retracement level of the last decline from the $322.00 high to $292.09 low is also near the $315.28 level to act as a resistance. Above the $315.00 resistance area, the price could climb towards the $320.00 hurdle.

The current price action suggests that the price is likely to surpass the key $320.00 resistance level. In the mentioned bullish scenario, Ethereum price may perhaps start a decent rise towards the key $340.00 or $350.00 resistance level.

On the downside, an initial support is near the $310.50 level and the 25 simple moving average (30-min). There is also a connecting bullish trend line forming with support at $307.50 on the same chart.

Overall, Ether price is trading nicely above $305.00 and $307.00 and it could soon break the $315.00 and $320.00 resistance levels. Conversely, a downside break below $300.00 might push ETH back towards the $292.00 swing low.

The market data is provided by TradingView, Bitfinex.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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