There was another rejection noted near $265.00 in Ethereum vs the US Dollar. ETH/USD is currently declining and approaching towards a couple of important supports near $254.00 and $250.00.

Key Takeaways: ETH/USD

• Ethereum price formed a short term top near the $264.4 level and declined against the US Dollar.
• ETH/USD is currently approaching the $254.00 support and a bullish trend line on the 2-hours chart (data feed from Bitstamp).
• Bitcoin price remains in an uptrend and it could accelerate gains above the $8,300 level.

Ethereum Price Analysis

Recently, bitcoin price gained momentum and broke the $8,100 and $8,200 resistance levels. However, Ethereum price failed to gain traction and formed a short term top near the $264.4 level.

Looking at the 2-hours chart, Ethereum price started a downside correction from the $264.41 high and declined below the $260.00 level. There was a break below the 23.6% Fib retracement level of the last rally from the $236.89 to $264.41.

Besides, there was a break below the $258.00 level, but the price found support near $255.00. Moreover, the price is approaching the $254.00 support and a bullish trend line on the 2-hours chart.

Below the trend line, the main support is near the $250.20 level and the 50 simple moving average (2-hours, purple). The 50% Fib retracement level of the last rally from the $236.89 to $264.41 is also near the $250.65 level to act as a support.

If there is a downside break below the $250.00 support, the price could extend losses and decline towards the $243.50 zone. The 76.4% Fib retracement level of the last rally from the $236.89 to $264.41 is also near $243.40.

Conversely, if the trend line support holds, the price is likely to start a fresh increase in the coming sessions. An initial resistance is near $260.00 and a connecting bearish trend line. A break above the $260.00 barrier might start a strong rally in Ethereum price above the $265.00 level.

Overall, ETH price is trading with a positive bias as long as it is above $250.00, and it could rise again above $260.00 and $265.00.

Recently, there was a sharp dip in bitcoin and Ethereum. ETH/USD declined below the $265.00 support area, but the $258.00 area acted as a strong buy zone and the price is currently sighting important bullish break.

Key Takeaways: ETH/USD

• Ethereum price jumped sharply after testing the $258.00 support area against the US Dollar.
• ETH/USD is currently trading near the $272.00 resistance and below a major bearish trend line on the 2-hours chart (data feed from Bitstamp).
• Bitcoin price is back above the $8,650 level, but facing hurdles near $8,720 and $8,750.

Ethereum Price Analysis

Recently, bitcoin price started a downside correction below $8,700. Similarly, there was a downward move in Ethereum price below the $270.00 and $265.00 support levels, but the $258.00 level acted as a strong buy zone.

Looking at the 2-hours chart, Ethereum price failed on multiple occasions near $277.00 and $280.00. As a result, there was a sharp downside correction below the $270.00 and $265.00 support levels.

The price even broke the 50% Fib retracement level of the last rally from the $246.29 to $280.05. There was a spike below the $260.00 support, but the $258.00 level acted as a strong support and prevented further losses.

More importantly, the price bounced back after testing the $258.00 support and the 50 simple moving average (2-hours, purple). The 61.8% Fib retracement level of the last rally from the $246.29 to $280.05 also acted as a decent support.

The price is now trading above the $265.00 and $270.00 level. However, the bulls are struggling near the $272.00 resistance and below a major bearish trend line on the same chart.

If there is a clear break above the trend line and $274.00, there are chances of a strong rally above the $280.00 and $282.00 resistance levels.

The next important resistances are near the $285.00 and $292.00 levels, above which Ethereum price is likely to test the $300.00 level. On the downside, there are many supports near the $268.00, $265.00 and $258.00 levels.

Overall, ETH price is trading with a positive bias and it is likely to break the $274.00 and $280.00 resistance levels in the coming sessions.

After a sharp rise in bitcoin price, Ethereum price joined the party and rallied above the $230.00 and $250.00 resistances. ETH tested $274.00 and it is currently correcting lower towards key supports.

Key Takeaways: ETH/USD

• Ethereum price surged higher in the past few sessions above $230.00 and $250.00 against the US Dollar.
• ETH/USD is trading above the $244.00 support and a bullish trend line on the 2-hours chart (data feed from Bitstamp).
• XLM and ETC performed really well, with gains more than 15%.

Ethereum Price Analysis

Earlier bitcoin price started a strong uptrend, and then bitcoin cash, ripple and Ethereum gained bullish momentum. ETH price formed a solid support base near the $200.00 level and recently climbed more than 25%.

Looking at the 2-hours chart, Ethereum price settled above the key $200.00 and $210.00 pivot levels. It sparked a sharp rally above the $230.00 resistance and the price settled well above the 50 simple moving average (2-hours, purple).

The upward move was such that the price even broke the $250.00 and $265.00 resistance levels. A new 2019 high was formed at $273.91 and recently the price started a downside correction.

It broke the $265.00 support and traded below the 23.6% Fib retracement level of the rally from $200.50 to $273.91.  However, the recent resistance zone near the $245.00 and $244.00 levels acted as a support and prevented further losses.

Besides, the price is trading above the $244.00 support and a bullish trend line on the same chart. If there is a break below the trend line support, the price could test the next support at $237.00 and the 50% Fib retracement level of the rally from $200.50 to $273.91.

The next important support is near the $228.00 level and another bullish trend line on the same chart. On the upside, Ethereum price could face resistance near the $260.00 and $265.00 levels. If ETH successfully climbs above $265.00 once again, there could be another strong rally above the $275.00 and $280.00 levels.

In the mentioned bullish case, the next stop for Ether buyers might be $292.00 or even $300.00 in the near term.