Ethereum price is slowly rising and is trading above the $ 460 resistance against the US Dollar. If Ethereum price clears the $ 470 resistance zone, it will likely rise to $ 495 or $ 500, according to successful analyst Aayush Jindal.
- Ethereum price is showing positive signs above the $ 450 and $ 455 support levels.
- The price is currently trading above the $ 460 resistance and well above the 100 hourly simple moving average.
- There is a major bullish trend line formed with support near $ 444 on the hourly chart of ETH / USD (data feed via Kraken).
- If there is a clear break above the $ 470 resistance zone, the pair could start a strong rally.
Ethereum price may rise again: successful analyst Aayush Jindal
After building a support base above $ 440, Ethereum price has been on a steady uptrend. ETH price broke the $ 450 and $ 455 resistance levels to move into a positive zone. The upward move caused the price to break above the key $ 460 resistance plus well above the 100 hourly simple moving average. A high level has formed around $ 467 and the price is currently consolidating gains.
The initial support is near the $ 460 zone (multitouch zone), according to the analyst. At the same time, it is near the 23.6% Fib retracement level of the recent upward move from the $ 441 low to $ 467. The first key support is near the $ 455 level where bulls are most likely to emerge, according to the analyst. The 50% Fib retracement level of the recent upward move from the $ 441 low to $ 467 low is also near the $ 455 level. There is also a major bullish trend line formed with support near $ 444 on the hourly chart of ETH / USD.
Here are the critical levels that Ethereum could see soon
On the upside, the $ 468 and $ 470 levels are major hurdles. A successful close above the $ 470 resistance level could open the doors for a sharp increase, according to the analyst. The next key resistance is seen near the $ 480 level. Any further gains could require a move towards the $ 495 and $ 500 levels, according to the analyst.