Categories: Ethereum

Ethereum price analysis: ETH/USD pullback hits a dead-end at $300; trendline hints upside breakout

Click here to view original web page at
  • Ethereum is still respecting a three-months-long ascending trendline that started at the beginning of April.
  • The RSI and MACD emphasize the bullish status of the market despite the hurdle at $300.

Ethereum recovery has come to a sudden end short of $300 pivotal level. The call by the bulls to push the digital asset back to the glory above $350 was dealt a blow following the dip back to m$270 support on Tuesday.

Despite the correction, Ethereum is still respecting a three-months-long ascending trendline that started at the beginning of April. This means that the market is still in a bullish phase. Moreover, Peter Brandt told investors recently that there is no bullish market that does not have corrections. He added that this downside will eventually correct itself.

Meanwhile, Ethereum is trading at $294 as bulls battle to hold on to the 1% gains on Wednesday. The intraday charts show that the prevailing trend is bearish. According to the technical indicators, starting with the Moving Average Convergence Divergence (MACD), upward correction should be expected in the coming sessions. The indicator’s divergence suggests that buying pressure is gradually increasing.

The 50 Simple Moving Average (SMA) 4-h is above the 100 SMA longer term trend indicator to show that the bulls have the influence. The Relative Strength Index (RSI) is in an upward direction above the average and emphasizes the bullish status of the market despite the hurdle at $300. Trading above $300 will allow Ethereum to focus on $320 and $360 levels in the sessions ahead of the weekend.

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.

The RSI and MACD emphasize the bullish status of the market despite the […]


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

Recent Posts

Bitcoins and Cryptocurrency: Myths and realities

Part 2: The Journey This is a story of secret beginnings. A story of a brilliant idea, born of trying… Read More

5 hours ago

Twitter is Losing its S%# Over This $4 Million Golden Toilet

An solid gold toilet from Churchill's birthplace goes missing. | Source: AP Photo, File Golden toilets don’t come around very… Read More

5 hours ago

eToro Aims to Put Derivatives on the Blockchain With Lira Programming Language

eToro , an Israel-based exchange platform, revealed a new programming language designed to simplify derivatives trading.Speaking ahead of the Ethereal… Read More

5 hours ago

Gartner sees blockchain as ‘transformational’ across industries, in 5-10 years

Credit: Dreamstime Research firm Gartner, whose past evaluations of blockchain have been conservative to say the least , expects the… Read More

11 hours ago

The Future Lies in Blockchain: Circle CEO Jeremy Allaire Backs China’s Cryptocurrency and Facebook’s Libra

The year is 2017. Cryptocurrencies and their underlying blockchain technology are sternly poised to take over the world. Investors, all… Read More

11 hours ago

Ethereum-based Staked Not Efficient, Claims DeFi Builder

Much like banks, there is competition with the Ethereum decentralized finance (DeFi) ecosystem; each protocol and ecosystem offers different benefits… Read More

11 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