- Ethereum price moved higher and hit a high of $895 today
- ETH is now on a bullish trend approaching the pivotal $900 price level
- A major support level has been established at $865
Ethereum Moves Higher, Closing In On $900
Ethereum price moved higher on Tuesday, reaching as high as $895. The lowest point today was $862. Ethereum has now recovered from its price fall last week, which saw a decline below $850 after managing to surpass $900 earlier in the week.
ETH/USD is now on another bullish trend and closing in on $900. A major support level has been established at $865, with resistance at $880. The next hours should see ETH test this resistance level, after which it could move above $900 once again.
The MACD indicator is also showing a weak bullish signal. The worst-case scenario could take ETH price around its 20-day moving average of $875. More optimistically, ETH could move higher above $900 to the $950 level seen early last week.
Overall, ETH price movement over the past seven days is now resembling a U-shape, so another price recovery is on its way.
Looking at the Technical Indicators:
- Hourly MACD — Weak bullish signal
- Major Support Level — $865
- Major Resistance Level – $880
Featured Image: twitter