Ethereum finally managed to break the critical resistance line – ETH over $ 300

Ethereum finally managed to break the critical resistance line - ETH over $ 300

Ethereum emission will be reduced 10-fold

The price of Ethereum in recent days is quite volatile, Ethereum, which fell to 286 dollars in the last days, finally managed to break the critical resistance line and went back to over $ 300.

Ethereum finally cuts the critical resistance line

Etherum received strong support at $ 285, as stated in our analysis yesterday. With support from this level, ETH easily surpassed the $ 290 – 295 resistance levels, respectively. However, the 100-day moving average was passing near the $ 300 level. Exceeding this level allowed the asset to gain more than $ 305.

The new weekly peak hit $ 311, and the price went into a correction at this level. As of 10.15, the Ethereum is trading at $ 105. There’s a support level of 302 and $ 300. However, in the price movement from $ 311 to $ 290, Fib is a major support level of $ 300 compared to 50%.

On the hourly chart, the $ 292 level on the ETH / USD chart constitutes the support line. The price has created self-support levels at 300 – 295 and 292 levels.

In case of an upward price movement, it will face 308 – 310 resistance. Exceeding these levels is likely to accelerate the price of Ethereum further. The first obstacle to the Ethereum bulls is the $ 308 level. After exceeding this level, the price of the asset will move rapidly to $ 325.

Ethereum finally managed to break the critical resistance line - ETH over $ 300

When we look at the graph, we see that the Ethereum price shows strong signs above $ 300. With this latest move, he not only outperformed Bitcoin, but also made the most money in the Top 10 crypto. It is possible that ETH will start the $ 310 journey again as soon as the price movement ends.

ETH technical data

Hourly MACD – The hourly MACD on the ETH / USD parity decreases the upward trend and intersects with the trend line. At this point it gives signs of decline.

Hourly RSI – The hourly RSI for the ETH / USD pair is currently facing a correction below 80.

Great support level – $ 300

Large resistance level – $ 310

About Shawn Morrison 266 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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