HYIP Investment Programs or HYIPs that carry some degree of risk but can produce high yields if they are successful.... more
Like the misleading opening of a well-crafted thriller, the blockchain bustle in the banking sector is sending a... more
Bitcoin Price Key Highlights Bitcoin price recently broke below a short-term ascending trend line, indicating that a... more
While Bitcoin remains firmly planted at the top of the crypto pile the race for second, third and fourth continues. The... more
Key Highlights ETH price rocketed above the $1200 before creating a dip and rip situation against the US Dollar. A... more
Payment SystemsLast VotesTop Monitored- City Build Trade2066 days
- Uncharterd Wealth1010 days
- Instant Hour536 days
- Bpayment.Biz531 days
- Ceribo405 days
- Zonders Pro389 days
- BTC Traders370 days
- Infinity Coins366 days
- Trust Cash244 days
- Day Deposit239 days
Ethereum Price Technical Analysis – ETH/USD Resumes Uptrend
Key Highlights
ETH price rocketed above the $1200 before creating a dip and rip situation against the US Dollar.
A crucial bullish trend line with current support at $1060 prevented declines on the hourly chart of ETH/USD (data feed via SimpleFX).
The pair has resumed its uptrend and it looks set for a move above the $1220 level.
Ethereum price is forming bullish moves against the US Dollar and Bitcoin. ETH/USD corrected sharply and is currently poised to resume uptrend above $1220.
Ethereum Price Support
Yesterday, we discussed that ETH price is poised to break the $1200 level against the US Dollar. The price made a nice upside move and traded above the $1200 level. A new all-time high was formed at $1222.46 before sellers appeared. There was a major downside reaction and the price tumbled below the $1100 and $1000 support levels. However, the downside move was protected by the $950 support.
More importantly, a crucial bullish trend line with current support at $1060 prevented declines on the hourly chart of ETH/USD. The trend line support at $1060 along with the 100 hourly simple moving average acted as a decent support. The pair bounced and moved above the 50% Fib retracement level of the last drop from the $1222.46 high to $956.85 low. The current price action is positive since the price has moved above the $1150 level.
Ethereum Price Technical Analysis ETH USD
Moreover, the price is now placed above the 76.4% Fib retracement level of the last drop from the $1222.46 high to $956.85 low. Therefore, there are high chances of it breaking the $1222 high in the near term. If all goes well, the price could even accelerate above the $1250 level. On the downside, the $1120 support is an initial buy zone. However, the most important support is at $1060 and the 100 hourly SMA.
Hourly MACD – The MACD is moving back higher in the bullish zone.
Hourly RSI – The RSI is once again moving toward the 70 level.
Major Support Level – $1060
Major Resistance Level – $1220
Charts courtesy – SimpleFX
→ BTC Traders 
