Ethereum (ETH) Short Term Price Analysis

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Ethereum has grown by about 3% in total today, reaching $ 365. The cryptocurrency has been slowly rising since it recovered from $ 320 last week. Against Bitcoin, Ethereum is facing strong resistance in a decreasing trend line.

Etheruem Bulls Are Back to 2019 Highlights

Key Support Levels: $ 350, $ 336, $ 325.

Key Resistance Levels: $ 378, $ 390, $ 400.

Last week, Ethereum slid below the 100-day EMA as it slid to support at $ 320. Bulls from there defended this level of support on Thursday.

Ethereum followed Bitcoin and continued to rise slowly over the weekend and eventually managed to rise above the 2019 high at $ 364 today.

Notwithstanding the bullish, it is worth noting that there is some evidence in the lower timeline chart below that there is some downward difference between price action and the RSI indicator that is beginning to form. As the price action rises, the RSI indicator makes a lower rise known as a bearish divergence.

ETH-USD Short Term Price Prediction

If the downward trend continues, the market will inevitably go down. In this case, the initial support level is $ 350. Following this, support is $ 336 (100-day EMA), $ 324 (.618 Fib Retracement) and $ 320.

On the other hand, if buyers continue to move beyond $ 365, resistance is first found at $ 378 (bearish .382 Fib Retracement). Resistors above this are at $ 390 and $ 400.

ETH / BTC – Falling Trendline Resistance

Key Support Levels: 0.033 BTC, 0.032 BTC, 0.0315 BTC.

Key Resistance Levels: 0.0347 BTC, 0.0352 BTC, 0.0361 BTC.

See Also
Regulated Ethereum Futures Coming

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