Ethereum Price Forecast: Ether Rising Steadily Toward $300 Ethereum Price Analysis News

Ethereum (ETH) Technical Analysis & Price Prediction - June 28, 2018

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Ethereum Price Forecast: Ether Rising Steadily Toward $300

Ether’s price is rising inside a bullish path above $270.00 against the US dollar. ETH/USD may possibly trade toward $290.00 and $300.00 in the near term.

Ether formed a base near $270.00 and the price moved higher against the US dollar.

There was a break above a contracting triangle with resistance at $277.00 on the hourly chart of ETH/USD.

ETH/BTC tested the 0.0415BTC support area and seems like it could test 0.0400BTC.

Technically, the hourly chart indicators climbed into the bearish territory.

developed above the $270.00 level in ETH/USD. The pair traded above the $280.00 level, but there was a lack of bullish momentum for a test of $290.00.

On the other hand, ETH/BTC faced renewed selling pressure as it tested the 0.0415BTC support. The next major support on the downside is near the 0.0400BTC level.

Starting with the hourly chart of ETH/USD, a base formed near the $270.00 level. The pair climbed above a contracting triangle with resistance at $277.00, which opened the doors for more gains.

More importantly, there was a break above the 50 percent Fibonacci retracement level of the last decline from the $298.17 high to $259.56 low. The price traded above the $280.00 level, but it seems like Ether buyers

Should there be a downside correction, the price could test the broken trendline at $276.00, Ethereum Price Analysis News , there is a lot of bearish price action visible below the $300.00 resistance.

It seems like there is a crucial contracting triangle in place with resistance near the $285.00 level. On the downside, the triangle support is at $260.00, below which the price may well decline sharply.

Overall, Ether is trading with a few positive signs above $270.00, but the price has to surpass many hurdles near $290.00 and $300.00 to climb into a positive zone.

Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis. He strives to provide entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession and loves blogging.

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Ether’s price is trading in ranges against the US dollar. ETH/USD is trading with a bullish angle above the $270.00 support and could soon break the $280.00 resistance.

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