Categories: Ethereum

Ethereum price prediction: This recovery is range-bound – Confluence Detector

Click here to view original web page at
  • Calm descends upon Ethereum following a stormy night in the cryptocurrency market.
  • Ethereum recovery likely to in a range between $248.89 and $259.30.

Ethereum has managed to come out of the red with subtle gains on the intraday chart. From the levels covered in the cryptocurrency market update earlier today, ETH/USD is battling to hold tight above $250. The 15-minutes chart shows calmness following the correction from highs above $260 yesterday. The declines on the day could not find support at $255 and $245 but the bulls made $240 a stronghold, in turn, barricading the declines.

Meanwhile, the confluence detector tool places the first Signiant resistance at $259.30. Some of the confluence at this level are Bollinger Band 1-day middle, the 23.6% Fib level 1-minute, the 61.8% Fib level weekly, the 100 SMA 4-hour and the 50 SMA 1-hour. Ethereum upside is likely to be limited at this level in the coming days but a break above $260 will have to deal with other hurdles at $261.90, $264.50 and $277.51.

In the event the price fails to correct above $250 due to exhaustion taking a toll on the buyers and Ethereum reversing downwards, the initial support is seen at $248.89: SMA 5 4-hour, 5 SMA 15’, previous low 15’, Bollinger Band 1-hour middle, 10 SMA 15’ and the previous high 4-hour. Further correction south will find support at $241.08 and at $238.48.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Ethereum recovery likely to in a range between $248.89 and $259.30.

Ethereum has managed to […]


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by
Tags: ethether

Recent Posts

Bitcoin Price Forecast: BTC/USD Volume Could Indicate A Breakout

Bitcoin’s daily volume spike could create a necessary condition for a breakout. Traded price ranges continue to constrict. Bitcoin’s Bullish… Read More

4 hours ago

Billionaire Tim Draper: Bitcoin Will Hit $250,000 By 2022

Billionaire venture capitalist Tim Draper told BlockTV that in the next several years, Bitcoin could reach $250,000 per coin. "$250,000… Read More

4 hours ago

Maduro Mandates Petro-Financed Public Housing Scheme in Venezuela

Embattled Venezuelan leader Nicolas Maduro looks to expand Petro adoption through a new housing initiative. | Image: REUTERS /THIRD PARTY.… Read More

4 hours ago

Malware InnfiRAT Targets Bitcoin And Crypto Wallets

The malware named InnfiRAT could be stealing bitcoins and cryptocurrency wallet information. It is usually downloaded through email attachments and… Read More

4 hours ago

Bitcoin (BTC) Interest in China Driven by Price Action News

Share Tweet Send Share Baidu search trends in 2019 show Chinese bitcoin interest being driven largely by price action news.… Read More

4 hours ago

Crypto and the Latency Arms Race: Crypto Exchanges and the HFT Crowd

Max Boonen is founder and CEO of crypto trading firm B2C2 . This post is the second in a series… Read More

4 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More