$300: Ethereum Bulls Aim Big After Recent 12% Surge To $250

Ethereum price surged more than 12% and broke many hurdles near $230 and $240 against the US Dollar. ETH is likely to continue higher towards the $300 handle in the near term.

Top Investors Think Bitcoin Can Breach $20,000 In Coming 12 Months: Here’s Why
Saturday April 04, 2020

Despite the crypto crash that transpired last month, emotions are running hot; leading investors think Bitcoin will near its $20,000 all-time high, established at the end of 2017, in the near future. Here’s why...

The post Top Investors Think Bitcoin Can Breach $20,000 In Coming 12 Months: Here’s Why appeared first on 12bitplay - Bitcoin Play.

Ethereum declined below the $225 and $220 support levels against the US Dollar.
The key targets of $240 and $250 were achieved (as discussed in the weekly forecast).
There was a break above a major contracting triangle with resistance near $223 on the hourly chart of ETH/USD (data feed via Kraken).
Bitcoin price is back above the $10,000 resistance and traded to a new 2020 high above $10,200.

Ethereum Rallies 20% But Fails To Surpass 100-day SMA
Tuesday April 07, 2020

Ethereum surged close to 20% and climbed above the $170 resistance against the US Dollar. However, ETH price is struggling to gain momentum above the 100-day simple moving average. Ethereum is up close to...

The post Ethereum Rallies 20% But Fails To Surpass 100-day SMA appeared first on 12bitplay - Bitcoin Play.

Ethereum Price Starts Strong Increase
After a short term downside correction, Ethereum found support near the $218 area against the US Dollar. A support base was formed above $220 and recently ETH price started a fresh increase.
There was a sharp upward move above the $225 and $230 resistance levels. The bulls even push the price above the $230 swing high and the 100 hourly simple moving average.
During the rise, there was a break above a major contracting triangle with resistance near $223 on the hourly chart of ETH/USD. Ethereum cleared the $240 resistance and traded close to the $250 area.
Ethereum Price
A new 2020 high is formed near $248 and the price is currently correcting gains. An initial support is near the $242 level. It coincides with the 23.6% Fib retracement level of the recent rally from the $218 low to $248 high.
On the upside, the $248 and $250 levels are initial hurdles for Ethereum bulls. If they push the price above the $250 barrier, it could set the pace for more upsides towards $265. The next major resistance above $265 is seen near the $300 level.
Dips Remain Supported
If there is a downside correction, the bulls are likely to remain active above the $230 level. The first key support is near the $235 and $233 levels.
Besides, the 50% Fib retracement level of the recent rally from the $218 low to $248 high is at $233. Any further losses may perhaps lead Ethereum price towards the $225 support area and the 100 hourly SMA.
Overall, the bulls remain in control above $230 and $240. Therefore, if the price surges above the $250 level, the bulls are likely to aim a test of the $300 mark in the coming sessions.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is now strongly in the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently correcting lower from the overbought zone.
Major Support Level – $233
Major Resistance Level – $250 The post appeared first on NewsBTC.

This Indicator Shows Bitcoin May Soon See a Massive Influx of Buy Orders
Thursday April 02, 2020

After a period of facing some downwards pressure, Bitcoin bulls have been able to step up and lead the crypto higher, pushing it back into the mid-$6,000 region. This recent price action seems to...

The post This Indicator Shows Bitcoin May Soon See a Massive Influx of Buy Orders appeared first on 12bitplay - Bitcoin Play.

You may also like...