Ethereum (ETH) Price Surges 20%, Hits $270: $300 Could Be Next
technical analysis

Ethereum (ETH) Price Surges 20%, Hits $270: $300 Could Be Next

THELOGICALINDIAN - Ethereum amount surged decidedly appear 270 against the US Dollar and jumped acutely vs bitcoin ETH is in a above balderdash run and it seems like the amount ability alike hit 300

Ethereum Price Analysis

Yesterday, we saw a aciculate access in Ethereum amount aloft $220 attrition adjoin the US Dollar. The ETH/USD brace acquired clip aloft the $225 attrition and rallied aloft the additional ambition discussed this week. It bankrupt the key $240 and $250 attrition levels to move added into a absolute zone. The uptrend was such that the amount acquired added than 20% and alike activated the $270 level. The amount is currently able-bodied aloft the $260 akin and placed accurately aloft the 100 alternate simple affective average.

A beat aerial is formed at $270 and the amount is still assuming a lot of absolute signs. If there is a downside correction, an actual abutment is at $262. It represents the 23.6% Fib retracement akin of the recent surge from the $237 beat low to $270 high. If there is an continued downside correction, the amount could analysis the $254 abutment level. The 50% Fib retracement akin of the contempo billow from the $237 beat low to $270 aerial is additionally abreast the $254 support. Besides, there is a new key bullish trend band basic with abutment abreast $244 on the alternate blueprint of ETH/USD.

Therefore, if the amount corrects lower, it is acceptable to acquisition a lot of buyers abreast the $262 or $254 support. On the upside, the $270 akin is an actual resistance. If there is an upside breach aloft $270, the amount could assemblage appear the $285 level. However, the capital ambition for the beasts could be $300 in the advancing sessions.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum amount is acutely surging and it is acceptable to breach the $270 attrition level. The abutting few hours could be important as the amount is acceptable to barter in a ambit afore it climbs aloft $270 and $275.

ETH Technical Indicators

Hourly MACDThe MACD for ETH/USD is currently placed heavily in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now in the overbought zone, with no above alteration signal.

Major Support Level – $254

Major Resistance Level – $285