Key Highlights:

Ethereum (available on Coinbase) price moved higher and hit a high of $895 today
ETH is now on a bullish trend approaching the pivotal $900 price level
A major support level has been established at $865

Ethereum (available on Coinbase) Moves Higher, Closing In On $900

Ethereum (available on Coinbase) price moved higher on Tuesday, reaching as high as $895. The lowest point today was $862. Ethereum (available on Coinbase) has now recovered from its price fall last week, which saw a decline below $850 after managing to surpass $900 earlier in the week.

ETH/USD is now on another bullish trend and closing in on $900. A major support level has been established at $865, with resistance at $880. The next hours should see ETH test this resistance level, after which it could move above $900 once again.

Source: Tradingview

The MACD indicator is also showing a weak bullish signal. The worst-case scenario could take ETH price around its 20-day moving average of $875. More optimistically, ETH could move higher above $900 to the $950 level seen early last week.

Overall, ETH price movement over the past seven days is now resembling a U-shape, so another price recovery is on its way.

Looking at the Technical Indicators:

Hourly MACD — Weak bullish signal
Major Support Level — $865
Major Resistance Level – $880

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In addition to writing financial content and analysis, Jackson has worked as a business journalist at Stockwatch and research analyst at various organizations. He obtained his MA Economics from Concordia University in Montreal and BA Economics from the University of British Columbia, with special emphasis on environmental and industrial economics.