- Ethereum price rose slightly today, breaking above the $950 level
- ETH is now holding a major support at $915
- A major resistance of $938 must be tested for its next move up
Ethereum Sees Slight GainsAfter breaking above yesterday’s $920 resistance level, ETH price went up slightly today. The coin did manage to break the $950 level briefly before pulling back to its current price near $930. ETH is currently holding down a major support at $915, while a resistance of $938 is something investors need to monitor for its next move up. Today’s price action is pivotal for ETH to return to $1,000. A series of daily highs and resistance points were broken through this week, but now ETH needs to consistently trade at around $950 in order to go back to four digits. However, for the rest of the day, a triangle pattern is forming that could take ETH price to a range of $920 to $935.
Source: TradingviewOn the positive side, the MACD and RSI indicators are sending strong bullish signals. There is a crossover happening on the MACD graph, and an RSI score of about 40 means there is still room for growth.
Looking at the Technical Indicators:
- Hourly MACD — ETH is in a bullish area
- RSI — The relative strength index shows ETH has more room to run
- Major Resistance Level — $938
- Major Support Level — $915