{"id":427744,"date":"2020-06-18T08:28:11","date_gmt":"2020-06-18T08:28:11","guid":{"rendered":"https:\/\/wncen.com\/?p=427744"},"modified":"2024-06-11T13:06:12","modified_gmt":"2024-06-11T13:06:12","slug":"ethereum-eth-risk-of-bullish-break-grows-above-240","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-risk-of-bullish-break-grows-above-240\/","title":{"rendered":"Ethereum Might Not Go Down Quietly: Risk of Bullish Break Grows Above $240"},"content":{"rendered":"<p><em>Ethereum is stable above the $230 and $225 support levels against the US Dollar. ETH price seems to be eyeing a major bullish break above $238 and $240.<\/em><\/p>\n<ul>\n<li>Ethereum is currently attempting an upside break above $234 and the 100 hourly simple moving average.<\/li>\n<li>The price is likely to remain well bid above the $230 and $225 support levels.<\/li>\n<li>There is a key bullish flag pattern forming with resistance near $234 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a steady rise if it clears the $238 and $240 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Holding Key Supports<\/h2>\n<p>After a <a href=\"https:\/\/wncen.com\/2020\/06\/17\/ethereum-topside-bias-vulnerable-unless-eth-surges-past-240\/\" target=\"_blank\" rel=\"noopener \">failed attempt to clear the $238 resistance<\/a>, Ethereum price extended its decline against the US Dollar. ETH broke the $232 and $230 support levels, and settled below the 100 hourly simple moving average.<\/p>\n<p>There was a break below the 23.6% Fib retracement level of the upward move from the $218 low to $237 high. However, the decline was protected by the $228 support zone.<\/p>\n<p>A low was formed near $228 and it seems like the 50% Fib retracement level of the upward move from the $218 low to $237 high acted as a strong support. Ether price is currently rising and trading above $230.<\/p>\n<figure id=\"attachment_427745\" aria-describedby=\"caption-attachment-427745\" style=\"width: 1828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-15.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1828\" height=\"868\" class=\"size-full wp-image-427745\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-15.png?resize=1828%2C868\" alt=\"Ethereum Price\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-15.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-15.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-15.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-15.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-15.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-15.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-15.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-427745\" class=\"wp-caption-text\">Ethereum Price Testing $235: Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>It is currently attempting an upside break above $234 and the 100 hourly simple moving average. There is also a key bullish flag pattern forming with resistance near $234 on the hourly chart of ETH\/USD. An upside break above the channel resistance at $234 and a close above the 100 hourly simple moving average could open the doors for a test of $238 or $240.<\/p>\n<p>To continue higher, the price must settle above the $240 resistance. In this scenario, the price could continue higher towards the $250 and $255 levels.<\/p>\n<h2>Fresh Bearish Wave in ETH?<\/h2>\n<p>If Ethereum continues to struggle near the $238 resistance or $240, it could decline again. An initial support is near the $230 level. The <a href=\"https:\/\/wncen.com\/2020\/06\/15\/ethereum-eth-could-retest-200\/\" target=\"_blank\" rel=\"noopener \">main support<\/a> is now near the $225 level.<\/p>\n<p>A clear break below the $225 support may perhaps decrease the chances of a bullish break above $240 in the coming sessions. The next support is at $218, followed by $215.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is slowly moving in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now just above the 50 level, with a bullish angle.<\/p>\n<p>Major Support Level \u2013 $230<\/p>\n<p>Major Resistance Level \u2013 $238<\/p>\n<p><a href=\"https:\/\/www.plus500.com\/?id=121277&amp;pl=2\" target=\"_blank\" rel=\"noopener nofollow\">Take advantage of the trading opportunities with Plus500<\/a><\/p>\n<p>Risk disclaimer: 76.4% of retail CFD accounts lose money.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is stable above the $230 and $225 support levels against the US Dollar. ETH price seems to be eyeing a major bullish break above $238 and $240. Ethereum is currently attempting an upside break above $234 and the 100 hourly simple moving average. The price is likely to remain well bid above the $230 and $225 support levels. There is a key bullish flag pattern forming with resistance near $234 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a steady rise if it clears the $238 and $240 resistance levels. Ethereum Price Holding Key Supports After a failed attempt to clear the $238 resistance, Ethereum price extended its decline against the US Dollar. ETH broke the $232 and $230 support levels, and settled below the 100 hourly simple moving average. There was a break below the 23.6% Fib retracement level of the upward move from the $218 low to $237 high. However, the decline was protected by the $228 support zone. A low was formed near $228 and it seems like the 50% Fib retracement level of the upward move from the $218 low to $237 high acted as a strong support. Ether price is currently rising and trading above $230. It is currently attempting an upside break above $234 and the 100 hourly simple moving average. There is also a key bullish flag pattern forming with resistance near $234 on the hourly chart of ETH\/USD. An upside break above the channel resistance at $234 and a close above the 100 hourly simple moving average could open the doors for a test of $238 or $240. To continue higher, the price must settle above the $240 resistance. In this scenario, the price could continue higher towards the $250 and $255 levels. Fresh Bearish Wave in ETH? If Ethereum continues to struggle near the $238 resistance or $240, it could decline again. An initial support is near the $230 level. The main support is now near the $225 level. A clear break below the $225 support may perhaps decrease the chances of a bullish break above $240 in the coming sessions. The next support is at $218, followed by $215. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly moving in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now just above the 50 level, with a bullish angle. Major Support Level \u2013 $230 Major Resistance Level \u2013 $238 Take advantage of the trading opportunities with Plus500 Risk disclaimer: 76.4% of retail CFD accounts lose money.<\/p>\n","protected":false},"author":67,"featured_media":427748,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,13625,4],"tags":[1946,8686,78803],"class_list":["post-427744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","category-analysis","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Might Not Go Down Quietly: Risk of Bullish Break Grows Above $240<\/title>\n<meta name=\"description\" content=\"Ethereum is stable above the $230 and $225 support levels against the US Dollar. 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ETH price seems to be eyeing a major bullish break above $238 and $240.","og_url":"https:\/\/wncen.com\/news\/ethereum-eth-risk-of-bullish-break-grows-above-240\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2020-06-18T08:28:11+00:00","article_modified_time":"2024-06-11T13:06:12+00:00","og_image":[{"width":1000,"height":574,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_638895124.jpg?fit=1000%2C574","type":"image\/jpeg"}],"author":"Aayush Jindal","twitter_card":"summary_large_image","twitter_creator":"@twitter.com\/AayushJs","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Aayush Jindal","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/ethereum-eth-risk-of-bullish-break-grows-above-240\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/ethereum-eth-risk-of-bullish-break-grows-above-240\/"},"author":{"name":"Aayush Jindal","@id":"https:\/\/wncen.com\/#\/schema\/person\/1f8631be4d0868de3fd2f21f17d9ae70"},"headline":"Ethereum Might Not Go Down Quietly: Risk of Bullish Break Grows Above $240","datePublished":"2020-06-18T08:28:11+00:00","dateModified":"2024-06-11T13:06:12+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/ethereum-eth-risk-of-bullish-break-grows-above-240\/"},"wordCount":407,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/ethereum-eth-risk-of-bullish-break-grows-above-240\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_638895124.jpg?fit=1000%2C574","keywords":["ethereum","ethusd","ETHUSDT"],"articleSection":["Cryptocurrency Market News","Ethereum","Technical analysis"],"inLanguage":"en-US","copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/ethereum-eth-risk-of-bullish-break-grows-above-240\/","url":"https:\/\/wncen.com\/news\/ethereum-eth-risk-of-bullish-break-grows-above-240\/","name":"Ethereum Might Not Go Down Quietly: Risk of Bullish Break Grows Above $240","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/ethereum-eth-risk-of-bullish-break-grows-above-240\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/ethereum-eth-risk-of-bullish-break-grows-above-240\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_638895124.jpg?fit=1000%2C574","datePublished":"2020-06-18T08:28:11+00:00","dateModified":"2024-06-11T13:06:12+00:00","description":"Ethereum is stable above the $230 and $225 support levels against the US Dollar. 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Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. 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