Ethereum (ETH) Price Smashes Resistance: Stage Set For $300?

THELOGICALINDIAN - Ethereum amount is aggressive college acutely against the US Dollar agnate to bitcoin ETH amount is aloft abounding hurdles and it is acceptable to abide college forth with BTC in the abreast term

Ethereum Price Analysis

After clearing aloft the $265 level, Ethereum amount acquired bullish drive adjoin the US Dollar. The ETH/USD brace bankrupt abounding hurdles abreast the $270 attrition and acclimatized aloft the 100 alternate simple affective average. The advancement move was able back the amount climbed aloft $275 to move into a absolute zone. There was a bright breach aloft the 76.4% Fib retracement akin of the bottomward move from the $275 aerial to $261 beat low.

Moreover, there was a breach aloft a aloft bearish trend band with attrition abreast $270 on the alternate blueprint of ETH/USD. Finally, the amount bankrupt the key $280 attrition and climbed appear the $285 level. It activated the 1.236 Fib addendum akin of the bottomward move from the $275 aerial to $261 beat low. At the moment, the amount is trading with a bullish bent aloft $280.

Moreover, an antecedent abutment is abreast $280, and the 23.6% Fib retracement akin of the contempo assemblage from the $267 low to $285 high. Additionally, there are abounding supports on the downside amid $270 and $280. The $275 akin is additionally abreast the 50% Fib retracement akin of the contempo assemblage from the $267 low to $285 high.

The capital abutment could be $270, which afresh acted as a able resistance. On the upside, an antecedent hurdle is abreast the $285 level, aloft which the amount is acceptable to accretion clip aloft $288 and $290. Aloft $290, the amount is acceptable to analysis the key $300 level.

Looking at the chart, Ethereum amount seems to be ambience up for added assets and it could anon analysis the $300 barrier. If there is a downside correction, the amount is acceptable to acquisition abutment abreast $280 or $275.