ICOCalendar.Today

  • ICO Directory πŸ“–
  • ICT Token πŸ”₯
  • Blockchain News πŸ—ž
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project πŸ’£
  • Submit Press Release πŸ‘
  • ICO Directory πŸ“–
  • ICT Token πŸ”₯
  • Blockchain News πŸ—ž
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project πŸ’£
  • Submit Press Release πŸ‘

Key Factors Suggest Ether at Major Breakout Point: $240 Presents Challenge

7/21/2020

Comments

 

Ethereum’s Ether is recovering and trading above the $235 resistance against the US Dollar. ETH seems to be preparing for a crucial upside break above $238 and $240.

  • Ether is recovering from the $232 support and trading above $235.
  • The price is now approaching the main $238 and $240 resistance levels.
  • There is a major bearish trend line forming with resistance near $238 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a strong increase if it clears the $238 and $240 resistance levels.

Ether Price Approaching Next Break

After another rejection near $240, Ether price corrected lower against the US Dollar. ETH traded below the $236 support level, but it remained well bid above the $232 level.

A low was formed near $234 and the price recently corrected higher. It broke the $235 and $236 resistance levels. There was a break above the 50% Fib retracement level of the recent drop from the $240 swing high to $234 low.

The price is now trading above the $237 level and the 100 hourly simple moving average. However, it is now facing hurdles near the $238 level. There is also a major bearish trend line forming with resistance near $238 on the hourly chart of ETH/USD.

Ether Price

Ethereum's Ether testing $238. Source: TradingView.com

The 76.4% Fib retracement level of the recent drop from the $240 swing high to $234 low is also close to the $238 level. If the bulls gain strength above the trend line and $238, there are chances of a steady rise towards $240 and $242. Any further gains could open the doors for a strong rally towards the $250 and $252 levels.

Fresh Decline in ETH?

On the downside, there is a major support forming near the $236 level and the 100 hourly simple moving average. The next major support is near the $234 level and a connecting bullish trend line.

If Ether fails to stay above the $234-$235 support zone, there is a risk of a sharp decline. The next major support is near the weekly pivot level at $230, followed by $228.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now gaining strength in the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently rising and it is well above the 50 level.

Major Support Level – $235

Major Resistance Level – $240

Take advantage of the trading opportunities with Plus500

Risk disclaimer: 76.4% of retail CFD accounts lose money.



Via https://www.newsbtc.com/2020/07/21/ether-at-major-breakout-point-240/?utm_source=rss&utm_medium=rss&utm_campaign=ether-at-major-breakout-point-240
Comments

    Blockchain News

    Leading global blockchain news provider. A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography.
    BLOCKCHAIN NEWS

    Archives

    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    November 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017

    RSS Feed

​About

  • About us​
  • ICT Token
  • News​​
  • Testimonies
  • Terms of Service​​
  • ​​We on Google News​ 🤑
  • ​We in the media
  • ​Partners

Let's connect!

News Feeds

  • Blockchain News
  • Jobs Board 👨‍🎓
  • Bitcoin News
  • Ethereum News
  • Binance News
  • ​Tron News
  • Cardano News
  • EOS News
  • Tezos News
  • Stock Markets
  • COVID-19 News
  • Crypto News
  • Chainlink News
  • Litecoin News
  • Dash News
  • Monero News
  • ETC News
  • NEO News
  • Maker News
  • DeFi News
  • ZCash News
  • Algorand News
© 2017-2020 ICOCalendar.Today. All Rights Reserved.