{"id":383036,"date":"2019-05-21T03:08:40","date_gmt":"2019-05-21T03:08:40","guid":{"rendered":"https:\/\/wncen.com\/?p=383036"},"modified":"2024-06-11T13:40:09","modified_gmt":"2024-06-11T13:40:09","slug":"ethereum-eth-price-targets-270-280","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-price-targets-270-280\/","title":{"rendered":"Ethereum (ETH) Price Following Rising Channel: Targets $270, $280"},"content":{"rendered":"
Ethereum price is following bullish path above $245 versus the US Dollar, but struggling vs bitcoin<\/a>. ETH is likely to climb towards $270 or $280 as long as it is trading above the $240 support.<\/em><\/p>\n Yesterday, we saw a downside correction in Ethereum price from the $265 swing high against the US Dollar. The ETH\/USD pair declined below the $250 support level and tested the $240 support. There was a minor spike below the 100 hourly simple moving average, but the pair bounced back above $242. Recently, there was a slow recovery above the $250 level and the 50% Fib retracement level of the last downside from the $265 high to $240 swing low.<\/p>\n The price even traded above the $255 level, but it seems to be facing a strong resistance near the $257-258 area. Besides, the 61.8% Fib retracement level of the last downside from the $265 high to $240 swing low is acting as a solid resistance. If there is an upside break above the $257-258 resistance zone, the price is likely to climb towards the $265 swing high.\u00a0 Any further gains could push the price towards the $270 or $280 resistance area. On the downside, there are many supports near the $245, $240 and $232 levels<\/a>.<\/p>\n Moreover, there is new rising channel forming with support near $245 on the hourly chart of ETH\/USD. The channel support at $245 is also near the 100 hourly simple moving average. Therefore, as long as the price is above the channel support, it could continue to grind higher. Conversely, if there is a downside break, the price might retest the $240 support area.<\/p>\nEthereum Price Analysis<\/h2>\n