Analytics / Forex and Crypto News
Ethereum price has continued to show strong growth since the end of March. In 7 days, the price of Ethereum has increased by 22%, and since March 25, this growth has been 58%. Ethereum has become more productive compared to Bitcoin.
On the price chart, the ETH/USD pair broke through the resistance area limited by the levels of 2300-2400. And at the time of publication, the ETH/USD pair is trading in the area of 2430. Ethereum has reached a new all-time high at 2485, but still can’t touch the mark of 2500 to see the bearish reaction.
Now the price of Ethereum has formed support at the level of 2400. Further, there is support at the level of 2330. At the same time, the 100-hour moving average provides support in the area of 2250.
Only resistance at 2450 is holding back the ETH/USD pair from testing the level of 2500. A successful close above 2450 is likely to set the pace for a move towards the 2500 level.
If the ETH/USD pair fails to overcome this level, it will try the 2400 support again for strength. Major support around 2330 provides enough support to keep the price from falling.