Ethereum Price Watch – ETH/USD Shoots Higher, Reaches Seven-Day High

Ethereum

Ethereum price watch: Ethereum edges higher today.

Key Highlights:

  • Ethereum price moved up by about 5% on Tuesday morning, reaching a seven-day high of $548.80.

  • ETH/USD is currently on a major bullish run to test a resistance at $550.

  • The cryptocurrency market continued its recovery from last week, adding $12 billion in 24 hours.

Ethereum Price Watch: ETH/USD Edges Higher, Hits Weekly High

Ethereum price edged higher on Tuesday morning, hitting a weekly high of $548.80. Currently, ETH/USD is in the $530-$540 price range. A major support has been established at the lower band of this trading range at $530.

Enter Your E-mail Address To Subscribe

* indicates required





I want e-mail alerts, updates, and offers and agree to the CryptoCurrencyNews privacy policy.


ETH/USD has been on a major bullish run since the open, testing a major resistance at $550. A break above that is unlikely as there are some signs of pullback toward the support. However, the entire cryptocurrency market is still on a path to recovery from last week, adding $12 billion in the past 24 hours, and further bull runs are almost inevitable. On the downside, a movement below $530 could take Ethereum price down to a retracement level of $505.

Ethereum price watch
Source: Tradingview

As for the technicals, the MACD is showing a weak bearish signal, while the RSI indicator puts Ethereum in a severely oversold territory. Trading volume has slowed down in the past few hours.

Looking at the Technical Indicators:

  • Hourly MACD — Bearish signal

  • Hourly RSI — Ethereum is in oversold territory

  • Major Resistance Level — $550

  • Major Support Level — $530

>> EOS Freezes Seven Accounts: Chaos Ensues

Featured Image: Depositphotos/© rclassenlayouts

Sponsored Crypto Content

Products You May Like

Articles You May Like

Secondhand resale is getting cutthroat as platforms such as Depop and Poshmark boom
Bitcoin bulls remain bullish, but macro and crypto-specific hurdles have BTC pinned below $30K
Inclusive Capital’s Ubben named to Vistry board as homebuilder looks to leverage recent acquisition
Bitcoin ATM maker shuts cloud service after user hot wallets compromised
Home sales spike 14.5% in February as the median price drops for the first time in over a decade

Leave a Reply

Your email address will not be published. Required fields are marked *