Ethereum About to Touch Resistance at 242.85

ETHUSD CHART PRICE – ETHUSD DAILY

The price of ETH has rocketed during previous trading session, gaining over 14 usd in just one day, ETH has started the day with a small loss, we see that the Bollinger Bands are getting wider, we should expect high volatility for the rest of the day, it could either test the resistance and bounce back down or have a breakout surpassing the 243 usd, at this point is important to wait for a signal confirmation, the RSI is currently at 59% which is a good number that can be an indicator that the price can continue to rise in the next few hours, perhaps days, the price of ETH has nor been over 255 since February 25th, based on this, we see it very difficult for the price to go near these level in the short term, but with cryptocurrencies you never know what could happen next, once we see a clear path we would place our trade, this is a good opportunity to enter the market, not too early but we could still be able to make a good trade.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.