Price Analysis

Ethereum Marks a Fresh 7-Month and Intraday Steep High at $257

  • Ethereum records an unrivalled growth of 16% over a period of 24 hours as it grows from $221 to a 7-month high of $257.72
  • ETH/USD on the daily chart is seen facing resistance above $257 with wide volatility forecasted along with this steep intraday rise
  • The coin is on a continual upswing since the beginning of the year 2020 with complete momentum and support from the daily moving averages
  • For the current trading price, ETH coin is facing support at $240, $225 and $200

Ethereum price shows an impressive intraday hike after having faced a dearth of momentum in the latter half of the bygone year when it had hit bottom below $120. However, the current year for Ethereum seems to have started with a bang as the crypto market gains the required push and the king of cryptocurrencies aces at the fresh 2020 high, until the time of writing.

ETH Price Prediction

Ethereum Price News
ETH/USD Chart by TradingView

Analyzing the daily movement, we see that the ETH price trend is on a continual and steep upswing these days. With “death crossover,” yet constant support ETH is trading at $252.14 after having corrected from the fresh 7-month high. The supports have been awaiting accordingly as the 20-day Bollinger Bands laid project volatility in the upcoming days.

As pointed out, we see a “death crossover” as the 200-day daily MA crosses above 50-day daily MA, and the 10-day MA supports at $218.30.

Eth price news
ETH/USD Chart by TradingView

Moreover, the intraday trend has been quite a thing to watch as the price of Ethereum has shown multiple price leaps and recorded over 16% growth.

The technical indicators laid confirm about the intraday bullish crossover as the MACD of ETH hits above the Signal line, while, the RSI is at 60.18 and withholds no trading extremities at present.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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