BTC
USD 11,946.12
ETH
USD 397.55
XRP
USD 0.30
LTC
USD 62.97
BCH
USD 327.82
EOS
USD 3.36
XLM
USD 0.11
XMR
USD 90.27
Download Nulled WordPress Themes
Download WordPress Themes Free
Download WordPress Themes Free
Download Premium WordPress Themes Free
udemy paid course free download
download redmi firmware
Free Download WordPress Themes
lynda course free download

ETH Battling $285 Resistance And Must Pass This To Head To $300

  • Ethereum rose by 3.5% today as the cryptocurrency returns to the $285 resistance level.
  • Ethereum is now the strongest performing top 10 cryptocurrency project over the last week of trading.

Etheruem saw a 3.5% price increase over the past 24 hours of trading which allowed it to climb higher above $270 to return to the previous 2020 resistance at around $285. The cryptocurrency has stalled its growth here but it can be expected to push higher in the short term.

ETH is now the strongest performing top-10 ranked cryptocurrency project after increasing by a total of 11.4%. The closes other project was Tezos, ranked in 10th place, which increased by 10.3%

Ethereum Price Analysis

ETH/USD – Daily CHART – SHORT TERM

cg-ethusd-feb19
ETH/USD – SHORT TERM – Source: TradingView

Market Overview

ETH managed to find strong support at around $256 over the past few days, allowing the cryptocurrency to rebound higher. The coin recently bounced back into the resistance at $285 as it attempts to reach $300.

Short term prediction: BULLISH

Ethereum is still bullish over the short term and has to break beneath $220 to turn bearish and this is very unlikely to happen.

If the buyers manage to break above $285, the next level of resistance lies at $290 – provided by a 1.272 Fib Extension level. Above this, resistance lies at $298 (1.414 Fib Extension & bearish .5 Fib Retracement).

If the bulls can continue to break $300, resistance can be expected at $310, $315, $320, and $330.

On the other hand, if the sellers push lower from here, the first level of support lies at $271. This is followed with additional support at $256 (.236 Fib Retracement), $250, $240, and $235.

The RSI is above the 50 level to show the bulls still remain in control over the market momentum, however, it looks to be falling slightly which could be a signal that the bullish momentum is fading. We will closely watch the RSI to see which direction it heads toward next.

Key Levels

Support: $256, $250, $247, $240, $235, $230.

Resistance: $271, $278, $285, $290, $298, $300, $310, $314, $334.

References

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More