Ethereum price tested the $285.00-290.00 support area on a few occasions. ETH price is slowly moving higher and it could continue to rise above $305.00 and $310.00.

  • Ethereum price is trading nicely above the key $285.00 and $290.00 support levels.
  • ETH/USD surpassed a key bearish trend line with resistance near $298.00 on the 30-minute chart.
  • The price might continue to rise as long as there is no downside break below $285.00.

Ethereum Price

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Ethereum Price Analysis (ETH to USD)

In the past two days, there were bearish moves in bitcoin and Ethereum. ETH price failed to climb above the $325.00 level and recently declined below the $300.00 handle. However, the key $285.00 and $290.00 support levels remained intact.

Ethereum Price Analysis (ETH to USD) Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair traded as low as $286.85 and recently started a fresh recovery. It broke the $292.00 resistance and the 25 simple moving average (30-min).

Moreover, there was a break above the 23.6% Fib retracement level of the downward move from the $325.12 high to $286.85 low. The price even surpassed a key bearish trend line with resistance near $298.00 on the same chart.


It is now trading near the $300.00 resistance level and it seems to be struggling to gain momentum. On the upside, an immediate resistance is near the $305.00-306.00 area.

The 50% Fib retracement level of the downward move from the $325.12 high to $286.85 low is also near the $306.00 level to act as a resistance. However, the main resistance is near the $308.00-310.00 area.

If there is a successful break above the $310.00 level, the price could continue higher towards the $325.00 swing high. Conversely, if Ethereum price struggled to break the $305.00 or $308.00 resistance, there could be another drop.

An initial support is near the $290.00 level, below which Ethereum could retest the $285.00 support. More importantly, if ETH fails to stay above the $285.00 support, there is a risk of more downsides in the near term. The next major support is near the $272.00 level.

The market data is provided by TradingView, Bitfinex.

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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.

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