Ether is showing positive changes in contrast to the US dollar and Bitcoin. Buyers of ETH/USD are on the rise and seemingly waiting for a break above $298.
Technically, the indicators on the 2 hour chart are moving up steadily every hour.
Ethereum prices could break $294 – $298?
In the weekly forecast of ETH/USD, there are many positive signs on the graph today. Stocks retained the day’s gain and could surpass the resistance at $290.
On the positive side, two uptrend lines formed with the support around $285. The above $285 has already hindered earlier growth and has now become a major support for future price developments.
The 23.6% Fibonacci growth of the last tranche from $252.03 to $294.40 is also close to $285.00 to prevent a possible fall. It can be said that the Ether had to clear up the resistance area of $294.00 – $298.00 to gain more traction.
If buyers continue to struggle and wait over $295.00, there may be a 50% Fibonacci retracement of the last session from $252.03 low to $294.40 and keep the $272.00 rhythm.
Here with the 30-minute chart of ETH/USD, there is a triangle with a volatile price at $290.00 and support at $286.00.
A successful bid of $290.00 could boost optimism for Ethereum stockholders. At $298.00, the pair will accelerate to $315.00- $320.00.
Increases in trading volume seem to be a sign of a short-term outlook for the ETH/USD, but a break of $298.00 will shift focus to a rising trend. more, towards the price of $315.00.
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