Ethereum price remained well bid above the $300.00 level and recently climbed higher. ETH price is signaling more upsides above $318.50, while bitcoin is already up more than 11%.

  • Ethereum price climbed higher above the $308.00 and $312.00 resistance levels.
  • ETH/USD cleared a few bullish continuation patterns near $309.00 and $313.00 on the 30-minute chart.
  • The price traded as high as $318.52 and it remains well supported for more gains.

Ethereum Price

Ethereum Price Analysis (ETH to USD)

After yesterday’s rise, Ethereum price settled above the $300.00 pivot level. There was a short term downside correction, but ETH/USD remained well bid and recently climbed above the $308.00 and $312.00 resistance levels, following a strong rise in bitcoin towards $12,750.

Ethereum Price Analysis (ETH to USD)

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the settled above the $300.00 pivot level and traded nicely above the $305.00 support area plus and 25 simple moving average (30-min).

There was a minor dip from the $312.53 high, but the price found support near the $305.00-306.00 area. Later, it started a fresh increase and broke the last swing high near the $312.50 level.

During the rise, the price cleared a few bullish continuation patterns near $309.00 and $313.00 on the same chart. It traded to a new weekly high at $318.52 and recently corrected below the 23.6% Fib retracement level of the recent leg from the $306.06 low to $318.52 high.


On the downside, there are many supports near the $312.50 and $311.50 levels. The 25 simple moving average (30-min) is also positioned near the $311.50 level.

Moreover, the 50% Fib retracement level of the recent leg from the $306.06 low to $318.52 high is likely to act as a strong support near the $312.20 level. Therefore, if there is a downside correction, the price is likely to find buyers near the $312.50 or $311.50 levels.

On the upside, the recent high near $318.50 is an initial resistance. If Ethereum surpasses the $318.50 swing high, it will most likely climb above the $322.00 and $325.00 resistance levels. The next target for ETH/USD could be near the $330.00 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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