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HomeAltcoin NewsEthereum Price Analysis: ETH Aims Larger Rally Above $450

Ethereum Price Analysis: ETH Aims Larger Rally Above $450

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  • Ethereum price is rising and it is trading well above the $430 level against the US Dollar.
  • ETH price is likely to accelerate higher above the $448 and $450 levels.
  • There was a break above a major bearish trend line with resistance near $394 on the 4-hours chart (data feed from Coinbase).
  • The pair is currently trading with a positive angle above $440 and the 55 simple moving average (4-hours).

Ethereum price is gaining bullish momentum above $440 against the US Dollar. It seems like ETH/USD is aiming a larger rally above the $450 resistance in the near term.

Ethereum Price Analysis

After forming a support base above $400, Ethereum price started a fresh increase against the US Dollar. ETH price broke a few key hurdles near the $420 level to move into a positive zone.

To start the current upward move, there was a break above a major bearish trend line with resistance near $394 on the 4-hours chart. During the rise, the pair broke a couple of bullish patterns to surge above the $430 resistance level.

It is currently trading with a positive angle above $440 and the 55 simple moving average (4-hours). The recent high was near $444 and it seems like the bulls are aiming more upsides above $450.

If there is a downside correction, the price might find bids near the $438 level. It is close to the 23.6% Fib retracement level of the recent increase from the $418 low to $444 high. The next major support is near the $430 level (the recent breakout zone).

The 50% Fib retracement level of the recent increase from the $418 low to $444 high is also near the $430 level to provide support. A larger decline below the $430 support could lead ether price towards the $415 support level in the near term.

On the upside, the price is facing hurdles near $448 and $450. A successful break above the $450 resistance zone could open the doors for a larger rally. The next key hurdles for the bulls are near $462 and $465.

Ethereum Price
Ethereum Price

Looking at the chart, Ethereum price is clearly climbing higher and trading nicely above the $440 level. Overall, the price is likely to accelerate higher above the $448 and $450 levels as long as it is above $430.

Technical indicators

4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is currently well above the 50 level.

Key Support Levels – $438, followed by the $430 zone.

Key Resistance Levels – $450 and $465.

Aayush Jindal
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

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