Of course Ethereum: the coin price will rise to $270☺

Of course Ethereum: the coin price will rise to $270☺

Key points

  • Course Ethereum will be in the green range as long as the value of the coin will not fall below $220.

  • On the four-hour chart has formed a bullish trend with the support level of around $224 (according to the exchange Kraken).

  • Buyers are trying to break through the resistance barrier at $252, but, so far unsuccessfully.

The price of ETH may be reduced, but only slightly, as the $220 is a strong support zone.

Right now the market is a delicate balance.

This week , the cryptocurrency fell to $170, then began a gradual appreciation of the asset, which was broken through the barriers of resistance at $200, $210 and $240. Course ETH reached $255 and is retracing towards $220.

During the last increase the cost of ETH $197 to $255 cryptocurrency was trading above 23.6% Fibonacci level. At around $226, which coincides with the average moving rate for 100 hours, is a strong resistance barrier, moreover, the four-hour chart has formed a bullish trend with support at $224. Therefore, even in the event of a change of tendency from large losses Ethereum protected areas support $226 and $224.

According to the graph, at the level of $270 has formed a strong resistance zone that the bullish trend has gained momentum necessary to break through barriers at $255 and $270, after that the road to $300 will be opened.

The MACD 4 hours – slightly in the zone of the bearish trend.

rong>Index RSI in 4 hours – below 50.

The main support level of $224.

Major resistance is $270.

Of course Ethereum for a week prepared in accordance with technical indicators and current situation on the market!

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