Ethereum Price Watch – ETH/USD Gains Slightly, Breaks $950

Ethereum Price Watch

Key Highlights:

  • 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 Gains

After 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.

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Ethereum Price Watch

Source: Tradingview

On 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

Featured Image: Depositphotos/© znm666

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