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Ethereum to Maintain Uptrend | Analysts Predict $300

Following Bitcoin’s rally in recent weeks, there has been a tremendous upward momentum for major cryptocurrencies such as Ethereum that have gained significantly from their yearly lows to the current prices.

Ethereum Headed to $300

Analysts indicate that Ethereum is likely to maintain the current momentum and thus extending its rally towards $300 mark in the near term.

Currently, Ethereum is up about 2% from its $245 daily low and it trading at $251. When considering Ethereum’s price action over time the digital currency has significantly gained from its lows in 2018 of just below $90 and further up the 90-day lows of about $130.  The recent momentum of Ethereum is a result of Bitcoin’s recent rally that saw the price of Bitcoin surge to almost $8400 from lows of around $3000.

The upward surge of Ethereum has allowed it to establish some kind of bullish technical formations which will enable it to surge even higher in the future. The most remarkable formation being sought-after is “golden cross” which will lead to Ethereum surging even further.

In a tweet, Etherdamus confirmed to his over 10,000 followers that Ethereum’s golden cross had been confirmed and in the near future it is expected to show some bullish signs.

Analysts believe Ethereum will maintain upward momentum

Ethereum is thus destined for great highs following this momentum and one analyst holds that there is a potential of the cryptocurrency testing $270 and a break above this mark likely to lead to significant new highs.

Another popular analyst on Twitter, The Cryptomist set a price target of around $269 in the near term from the current support region of $249.

The upward movement of Ethereum and other Altcoins in the near term depends on whether BTC will continue rallying to new highs or it finds resistance and consolidates at its present price levels. A pullback is likely to effects the current market momentum of cryptocurrencies.

Analysts and traders will soon understand where Bitcoin and crypto markets are headed next.

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Ethereum Price Watch – ETH/USD Shoots Higher, Reaches Seven-Day High – Crypto Currency News

Ethereum price watch: Ethereum edges higher today.

Key Highlights:

  • Ethereum price moved up by about 5% on Tuesday morning, reaching a seven-day high of $548.80.

  • ETH/USD is currently on a major bullish run to test a resistance at $550.

  • The cryptocurrency market continued its recovery from last week, adding $12 billion in 24 hours.

Ethereum Price Watch: ETH/USD Edges Higher, Hits Weekly High

Ethereum price edged higher on Tuesday morning, hitting a weekly high of $548.80. Currently, ETH/USD is in the $530-$540 price range. A major support has been established at the lower band of this trading range at $530.

ETH/USD has been on a major bullish run since the open, testing a major resistance at $550. A break above that is unlikely as there are some signs of pullback toward the support. However, the entire cryptocurrency market is still on a path to recovery from last week, adding $12 billion in the past 24 hours, and further bull runs are almost inevitable. On the downside, a movement below $530 could take Ethereum price down to a retracement level of $505.

Ethereum price watch
Source: Tradingview

As for the technicals, the MACD is showing a weak bearish signal, while the RSI indicator puts Ethereum in a severely oversold territory. Trading volume has slowed down in the past few hours.

Looking at the Technical Indicators:

  • Hourly MACD — Bearish signal

  • Hourly RSI — Ethereum is in oversold territory

  • Major Resistance Level — $550

  • Major Support Level — $530

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Ethereum Price Watch – ETH/USD Crashes Below $500, Faces Tough Climb – Crypto Currency News

Key Highlights:

  • Ethereum continued its decline on Thursday, crashing below the pivotal $500 level to a one-month low.

  • ETH/USD is currently on a downward trend testing a major support level at $460.

  • A major resistance level has been established at $490.

ETH/USD Facing Tough Climb

Following a sharp decline in the cryptocurrency market this past weekend, Ethereum continued its decline on Thursday morning, crashing below the pivotal $500 price level and hitting a one-month low of $459. The digital currency is currently trading at close to $466 and trapped between the $460-$470 price range.

ETH/USD has now formed a bearish trend testing a major support level at $460. A resistance point has been established just below the $500 mark at $490. The candlestick patterns indicate that ETH/USD could drop even lower later in the day.

On the downside, a break below the support could see Ethereum price end up at near $440. On the upside, a reversal could send ETH/USD back toward $480 in the short term. However, it may take a major bullish run later this week to get Ethereum over the $500 hurdle.

Source: Tradingview

The technicals indicate that a correction is on the horizon. The recent MACD crossover sends a bullish signal, and there’s an increasing buying pressure as shown by the RSI score and rising trading volume.

Looking at the Technical Indicators:

  • Hourly MACD — Bullish signal

  • Hourly RSI — Ethereum is in overbought territory

  • Major Resistance Level — $490

  • Major Support Level — $460

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Ethereum Price Watch | ETH/USD Moves Past $600, Upside Break Ahead

Key Highlights:

  • Ethereum moved past the pivotal $600 price level on Thursday morning, reaching a high of $617.16 on the Coinbase exchange.

  • The $600 level is also seen as a major support, from which a bullish trend line has formed.

  • ETH/USD is heading for an upside break to test a resistance at $615.

ETH/USD Heading For Upside Break

On Thursday morning, Ethereum price broke past the pivotal $600 level and stayed above that for the past hours, reaching a high of $617.16 on the Coinbase exchange. The $600 price level is also considered a major support for ETH/USD as of now.

Most of the price movements today were on the positive side. Although a major price dip occurred earlier, ETH/USD was able to stay above $600, and a reversal quickly followed. After testing the $600 support, ETH/USD formed a bullish trend line, looking to test a resistance at $615. On the upside, a successful break above that could send Ethereum price to $635 later this week. On the other hand, a downside move could erase the recent gains and test the $600 support once again.

Ethereum Price Watch

Source: Tradingview

The MACD lines currently show a bearish signal for ETH/USD. The RSI score is near 50, hence Ethereum is neither in an overbought nor oversold territory. Trading volume has gradually picked up during the past couple of hours.

Looking at the Technical Indicators:

  • Hourly MACD — Bearish signal

  • Hourly RSI — Neutral signal

  • Major Resistance Level — $615

  • Major Support Level — $600

Featured Image: Depositphotos/© spaxiax

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