Ether has been trading in green for a while now and it managed to find support at the $525 level showing strong recovery against the USD. There was a significant bullish trendline with $518 support. From all indications, the Ether to USD trading pair will keep trading higher for the next few trading sessions and it may go above the $545 level.
Ethereum (ETH) Price Analysis According to Aayush Jindal from News BTC
The Ether to USD pair is showing strong signs of a bullish outlook and Ethereum is trading positivity against the USD. If Ethereum keeps trading this way, it will accumulate gains up to the $545 and $548 levels soon. The price of Ether initially had a downside correction that was below the $530 level and found support at the $520-525 support zone. There was a decent base near the 50% Fib level of the last swing from $485 and $548. The $520 level and the 10 day simile moving average didn't experience any break.
Ethereum (ETH) Price Today
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Ethereum initiated an upward move and the Ether to USD trading pair moved above the $530 resistance level. The price broke above the 50% Fib level of the last wave from $548 to $517. At the time of writing, the price was trading close to the $545-548 resistance level. If it breaks above this level, more gains will come up to the $555 level in the short-term.
Yesterday, there was a significant bullish trendline that had support at the $518 level and the $525 support level may prevent any further declines.
Ethereum Technical Analysis for June 21
From the price chart, the Ether to USD pair is trading well above the $530 level and will most likely pass the $548 level soon. If the trend continues, the price will get to the $555 level.
The MACD on the hourly chart is in the bullish territory and the relative strength index is above 55. The significant support level is at $518 and the significant resistance level is at $548.
The reason for the price hike might be Vitalik Buterin's recent comment about upcoming upgrades.
Posted from my blog with SteemPress : https://smartereum.com/20089/ethereum-price-analysis-the-ether-to-usd-pair-finds-support-at-525-and-may-keep-trading-higher/
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