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Ethereum Price Analysis: ETH/USD sits on top of the upward trending line

FX Street
Updated:
  • ETH/USD bulls took back control, following a bearish Wednesday.
  • The RSI is trending along horizontally at 64.58, next to the overbought zone.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD regained control after a bearish Thursday as the price went up from $243.25 to $245. The price bounced up from the support provided by the upward trending line. The MACD shows sustained bullish momentum. The RSI is trending along horizontally at 64.58, next to the overbought zone, indicating that while the bulls may have eked out an advantage, they are not in complete control.

Support and Resistance

ETH/USD bulls face stiff resistance at $248. On the downside, the price has healthy support at $238, $231.86 and SMA 20

Key levels

 

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