{"id":389023,"date":"2019-07-08T03:08:27","date_gmt":"2019-07-08T03:08:27","guid":{"rendered":"https:\/\/wncen.com\/?p=389023"},"modified":"2024-06-11T13:45:09","modified_gmt":"2024-06-11T13:45:09","slug":"ethereum-eth-price-breaks-key-resistance-outpaces-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-price-breaks-key-resistance-outpaces-bitcoin\/","title":{"rendered":"Ethereum (ETH) Price Breaks Key Resistance, Outpaces Bitcoin"},"content":{"rendered":"
Ethereum price is showing a lot of positive signs versus the US Dollar and bitcoin<\/a>. ETH price is currently trading nicely above $300 and it could continue higher.<\/em><\/p>\n In the past few sessions, there was a slow and steady rise in Ethereum from the $286 swing low against the US Dollar. The ETH\/USD pair formed a decent support base above the $285 level and recently traded above the $290 and $295 resistance levels. Moreover, there was a close above the $300 level and the 100 hourly simple moving average. It opened the doors for more gains above the $305 level.<\/p>\n A new weekly high was formed near $311 and the price is currently correcting lower. It broke the $305 level and the 23.6% Fib retracement level of the recent wave from the $290 low to $311 high. However, the recent decline seems limited, with supports near $302 and $300. At the outset, the $302 level is acting as a solid support. Moreover, the 50% Fib retracement level of the recent wave from the $290 low to $311 high is near the $300 level to act as a strong support.<\/p>\n More importantly, there is a major bullish trend line forming with support near $292 on the hourly chart of ETH\/USD. The pair remains well supported on the downside near the $300, $295 and $292 levels. The 61.8% Fib retracement level of the recent wave from the $290 low to $311 high is also near $298. Therefore, dips remain well supported on the downside<\/a> in the near term.<\/p>\n On the upside, if there is a break above the $308-310 resistance, the price could accelerate higher. The next major hurdle for the bulls is near the $308 level, above which the price could accelerate towards the $325 level.<\/p>\nEthereum Price Analysis<\/h2>\n