BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Ethereum Breaks Out Above Resistance, Targeting $280

Ethereum Breaks Out Above Resistance, Targeting $280


The Ethereum price has steadily increased since its March 13th bottom. It has also risen much faster than BTC creating bullish momentum in the corresponding ETH/BTC price.

However, ETH/BTC is quickly approaching a crucial resistance area. Well-known trader @PostyXBT outlined an Ethereum chart that shows the price approaching an important resistance level from March.
He stated that he will not turn bullish until that level has been breached. He does not expect that to happen in the near future:
$ETH #ETHBTC Can’t get too excited until Aprils range highs are flipped into support. It’s that simple for me. If we see some more BTC volatility, I don’t expect this anytime soon.
Source: Twitter
The aforementioned resistance level is found at ₿0.026 and the bulls are rapidly approaching it. In addition, Ethereum is following a steep resistance line that will coincide with the resistance area by the middle of June.
There is no bearish divergence in the RSI yet, so the upward move is likely to continue, at least until the price reaches the aforementioned resistance area.
Ethereum Chart By Tradingview
The short-term chart aligns with this view since ETH is in the process of breaking out from a descending resistance line and moving towards the outlined resistance area. The breakout will be confirmed by an hourly close above this line.
Ethereum Chart By Tradingview
Ethereum/Dollar
ETH/USD is also following an ascending support line. Since May 27th, the price has successfully moved above both the $215 and $245 resistance areas and is currently approaching the next one around $285.
Yesterday’s breakout occurred with above-average volume, a sign that the price is likely to continue moving upwards. Furthermore, the 50 and 200-day moving averages (MA) have made bullish crosses, and the price is trading above both of them.
Therefore, as long as ETH stays above $245, it is likely to move towards $280.
Ethereum Chart By Tradingview
The post Ethereum Breaks Out Above Resistance, Targeting $280 appeared first on BeInCrypto .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News


Buy Bitcoin online in ANY country, supporting 80+ Payment methods!