Categories: Ethereum

Ethereum price analysis: Bulls remain in full control of the market

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  • ETH/USD has gone up from $272.20 to $279 in the early hours of Friday.
  • The bulls will want to gather enough momentum to get past resistance at $285.

ETH/USD bulls remain in full control of the market as the price went up from $272.20 to $279 in the early hours of Friday. This means that bulls have been in control of the ETH/USD market for three days in a row. In the first two hours of Friday, the price of ETH/USD shot up from $272.20 to $282.30. Since then, the bears stepped in and the price has gone down to $279 over the next two hours. The bulls will want to gather enough momentum to get past resistance at $285.

ETH/USD daily chart

The daily ETH/USD has reached the upper curve of the 20-day Bollinger band. The widening of the Bollinger jaw indicates higher market volatility. The market has found support on the upward trending line and is trending above the 200-day simple moving average (SMA 200) curves, SMA 50 and SMA 20 curves.

The relative strength index (RSI) indicator is trending around 63.60. The Elliot oscillator is back in the bullish zone while the moving average convergence/divergence (MACD) indicator has had five straight bullish sessions, indicating that the market momentum is bullish.

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The bulls will want to gather enough momentum to get past resistance at $285. […]

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