Ethereum Price Analysis: ETH/USD Waiting To See The Full Picture

6 mag 2018

Key points

• The price of ETH grew rapidly and broke through the resistance level of $800.
  Based on the four-hour ETH / USD chart (data from Bitstamp), there is an uplink with support at $800.
  The pair is in a strong bullish trend, can continue to move to $850 and $880.
  

The price of Ethereum demonstrates good signs of further growth in both the US dollar and Bbitcoin. If the bulls cope with support at $800 and $782 in ETH/USD pair, then we expect a further increase in the price of ETH.

There was a sharp shift upward from the $620 support zone in the price of ETH against the US dollar. The price of the beginning of the rally and moved above the resistance levels of $650, $680 and $720. Buyers took control and the price even rose above $800. The current uptrend is very strong with support for swings around levels of $800 and $660.
The above chart also assumes that the price will cost above $800. On the other hand, the gap above the recent high of $838 may, perhaps, push the price above the level of $850 in the short term. The MACD is currently reducing its bullish slope. The StochRSI is still in the overbought zone with no major sign of a downside correction