Ethereum (ETH) Price Surging: Bulls Eyeing Fresh 2024 High
technical analysis

Ethereum (ETH) Price Surging: Bulls Eyeing Fresh 2024 High

THELOGICALINDIAN - Ethereum amount is already afresh accepting bullish drive against the US Dollar agnate to bitcoin ETH is eyeing added assets and it seems like the amount could revisit the 280 beat high

Ethereum Price Weekly Analysis

This accomplished week, Ethereum amount acquired a able bullish drive aloft the $250 attrition adjoin the US Dollar. The ETH/USD brace rallied aloft the $260 and $270 attrition levels. The advancement move was such that the amount traded to a new 2019 aerial abreast $281. Later, there was a able downside alteration in both bitcoin and Ethereum. ETH amount beneath acutely beneath the $260 and $250 abutment levels. It traded abutting to the $225 akin and backward able-bodied aloft the 100 simple affective boilerplate (4-hours).

A beat low was formed afresh abreast $223 and a new abutment abject was formed. Moreover, there is a acute bullish trend band in abode with abutment abreast $236 on the 4-hours blueprint of ETH/USD. As a result, the brace climbed college and bankrupt the $240 resistance. There was a breach aloft the 23.6%% Fib retracement akin of the aftermost abatement from the $281 beat aerial to $223 low. It opened the doors for added assets aloft the $250 level. The amount is now testing the 50% Fib retracement akin of the aftermost abatement from the $281 beat aerial to $223 low.

A bright breach aloft the $255 attrition is acceptable to set the clip for added gains. The abutting actual attrition is abreast $258, aloft which the amount will best acceptable retest the $281 beat high. The abutting important attrition is abreast the $288 and $292 levels. On the downside, the capital abutment for the beasts are abreast $240 and $225.

Ethereum Price Weekly Analysis ETH Chart

The aloft chart indicates that Ethereum is placed accurately aloft the key supports abreast $240 and $225. Therefore, there are aerial affairs of a able advancement move was aloft the $255 and $260 attrition levels. The abutting ambition for the beasts could be $300.

Technical Indicators

4 hours MACD – The MACD for ETH/USD is currently accepting clip in the bullish zone.

4 hours RSI – The RSI for ETH/USD is now able-bodied aloft the 50 akin and it could ascend appear 80.

Major Support Level – $225

Major Resistance Level – $280