Technical Analysis Ethereum Price - ETH / USD Calm Before the Storm?

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Ethereum prices are still high against the US dollar and Bitcoin, and Power trading ETH / USD in the range above $ 290 before making the next move.

Key points

The price of ETH remains below $ 308-310 resistance against the US dollar.
There is a trend line connecting $ 308 with formation on the hour of bearish ETH / USD bearish chart (data feed via SimpleFX).
No torque movements to and fro between $ 290-308 before the next movement in the short term.

Ethereum prices are still high against the US dollar and Bitcoin, and Power trading ETH / USD in the range above $ 290 before making the next move.

Etereum Resistance Price

Recently, there was a bullish move to the US $ 308 in the ETH price against the US dollar. The price traded as high as $ 308.61, where he faced the sellers and moved down. During the downward movement, it broke with a bullish bearish support at $ 301.14 on the hourly chart. There was even a break below the Fibonacci retracement level of 23.6% from the last wave of the $ 276.83 $ 308.61 lower to higher.

However, the downward movement was protected by the Fibonacci retracement level of 38.2% from the last wave of the $ 276.83 $ 308.61 lower to higher. The price is now again, moving more towards the resistance of $ 308. There is a downtrend trend line resistance at $ 308 with training on the ETH / USD time chart. This trend line can prevent earnings above $ 310 once again. Mentioned in the case, there could be a new test zone of $ 300 to 295 before the price returns to its bullish trend.

On the negative side, the 50% Fib retracement level of the last wave of a minimum of $ 276.83 for $ 308.61 is good support at $ 292.72. Buy dips to support $ 292 and a simple 100-hour moving average can be considered in the short term.

The MACD clock - MACD is reducing the bullish tilt and can move in the bearish zone.

Hours RSI - RSI is trying to break above the 50 level, which is a positive sign.

Higher level of support - $ 292

Increased resistance level - $ 308