ETH/USD Jumps Above $300 but Can the Bulls Clear $350 Level?

ETH Price Prediction – July 26

The Ethereum is seen jumping above $300 for the first time since last year December.

ETH/USD Market

Key Levels:

Resistance levels: $360, $370, $380

Support levels: $265, $255, $245

ETHUSD – Daily Chart

ETH/USD hits the recent high at $320.37 and retreated to $311.60 at the time of writing. The coin is gaining close to 2% in the recent 24 hours of trading. The performance of the Ethereum market at the moment indicates the establishment of an uptrend very soon. It’s just a matter of time for this coin to reach the $350 level.

In the last six days, ETH has recorded this month’s highest value moving from $233 to $320 by crossing both the 9-day and 21-day moving averages at the time of writing. The on-going trend may move a little bit higher in the coming week, and the coin may likely cross the upper boundary of the channel to touch the nearest resistance at $325.

However, if the bulls put more effort, it could hit additional resistance levels at $360, $370, and $380 respectively. Meanwhile, the support levels to watch out for are $265, $255, and $245. The RSI (14) indicator is moving within the overbought zone, indicating more bullish signals.

Against Bitcoin, the daily chart shows that Ethereum’s price is trading well in a strong uptrend around 3273 SAT, after which the coin went back to touch the low of 3062 SAT. The coin is currently trading around 3147 SAT, as soon as the price is above the 3200 SAT, there is a possibility that additional benefits will be obtained in the long term. The next resistance key above the 3300 SAT is close to the 3400 SAT level. If the price keeps rising, it could even break the 3500 SAT and above in future sessions.

ETHBTC – Daily Chart

Meanwhile, if the bears regroup now, 2800 SAT and 2700 SAT supports may play out before rolling to 2600 SAT and this may create a new monthly low for the pair. However, the daily outlook is still looking bullish as the price actions remain in a consolidation mode. The RSI (14) is far above the 80-level within the overbought zone and this may cause the coin to remain on the positive side.

Source: https://insidebitcoins.com/news/ethereum-price-prediction-eth-usd-jumps-above-300-but-can-the-bulls-clear-350-level