Ethereum Price Analysis: Blasts Through Short-Term Hurdle – Stays In The Green


Ethereum Price Analysis
Source: TradingView

Ethereum Price Analysis: Blasts Through Short-Term Hurdle – Stays In The Green

  • ETH/USD managed to break through a key barrier and extended gains the gains to brushing shoulders with $174.00.
  • Expect Ethereum to stay above the buyers’ congestion zone between $166.00 and $168.00.

Ethereum is the bulls among a sloth of bears. In a market that been retracing, ETH/USD managed to break through a key barrier and extended gains not only past $170 but also stepped above $174. The gains come after the bullish zone between $166.00 and $168.00 stood its ground during the weekend trading sessions.

ETH/USD 15′ chart

Ethereum Price Prediction
Chart source: Tradingview

Last week we saw Ethereum spring up in an engulfing candle that sent it close to $180 instead of forming a high at $179.02 before the bears stepped on the reverse gear. ETH/USD fell into a downtrend below the trendline. There were drops and climbs around the 200 Exponential Moving Average (EMA) on Saturday and Sunday. However, the breakout on Monday has no signs of stepping below $170 in the coming sessions. Besides, the 200EMA will function as support above $170.

The reversal that has left as the only upright standing crypto among the top digital assets. It stands out in the green on the intraday charts where most cryptos are navigating a sea of red waters.

14-day RSI outlook

The Relative Strength Index in the 15-minute timeframe is trending sideways slightly below the overbought. A trendline connecting the previous lows since yesterday shows a steadily rising trend. As long as the indicator signal stays above this trendline we can expect Ethereum to stay above the buyers’ congestion zone between $166.00 and $168.00 while any correction into the overbought could see ETH/USD zooming above $180 (supply zone).

Also Read: Cryptocurrency Moving Wealth to Dark Havens, Must be Shut Down: Joseph Stiglitz

On the other hand, the moving average convergence divergence (MACD) uptrend has slowed down but the signal line is horizontal inside the positive region at +1.0057. The higher level confirms that the bulls are in charge and likely to continue influencing the price in the near-term.

Ethereum Key Technical Indicators

EMA200 15’: $170.7578.

Key Support Zone: $166 – $168.

Initial resistance: $174.00.

Key supply zone: $178 – $180.

RSI 15’: 61.86.

MACD 15’: 1.0057.

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Ethereum Price Analysis: Blasts Through Short-Term Hurdle - Stays In The Green
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Ethereum Price Analysis: Blasts Through Short-Term Hurdle - Stays In The Green
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ETH/USD managed to break through a key barrier and extended gains the gains to brushing shoulders with $174.00. Expect Ethereum to stay above the buyers’ congestion zone between $166.00 and $168.00.
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Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Author: John Isige

John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

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John Isige 127 Articles

John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

Follow John @