Ethereum price data analysis 3 July 2019; ETH price is gaining quick

Ethereum; the queen of cryptocurrencies is trading in the bullish zones to hit past all resistance and move above and beyond three hundred dollars ($300) mark but to no avail so far. However, Ethereum price is currently trading at two hundred and ninety-seven dollars ($297) and moving up.

Ethereum price has been struggling against the US dollar. Earlier in the day, the ETH/USD pair went in for a few bull runs to break past the resistance but was unable to find support above three hundred dollars ($300) mark.

Finally, there was an upside break, but there was no momentum above the three hundred dollars ($300) level. Ethereum price did, however, at one point hit a new daily high at three hundred and four dollars ($304) and settled above the 100 hourly simple moving average.

Ethereum price is currently correcting its gains and is trading near the three hundred dollars ($300) level.

The over twenty-three percent (23.6%) Fib retracement level swaying between the two hundred and ninety dollars ($290) and three hundred and four dollars ($304) zones, which are also near the three hundred dollars ($300) mark.

If there are more downsides, the price might test the two hundred and ninety-six dollars ($296) support level. Moreover, there is a new connecting bullish trend line forming with support near two hundred and ninety-seven dollars ($297) on the hourly chart of ETH/USD.

Below the trend line, the next key support is near the two hundred and ninety-five dollars ($295) level. The fifty percent (50%) Fib retracement level of the recent wave from the two hundred and ninety dollars ($290) to three hundred and four dollars ($304) high is also near the (two hundred and ninety-five dollars) $295 level.

Ethereum price data analysis 3 July 2019; ETH price is gaining quick 2Ethereum price chart by Trading View

On the upside, immediate resistance is near the three hundred and four dollars ($304) levels. If there is an upside break above three hundred and five dollars ($305), the price could test the three hundred and ten dollars ($310) resistance.

Any further gains could lead the price towards the key three hundred and twenty-five dollars ($325) resistance area.

Looking at the chart, Ethereum price is clearly showing a few positive signs above the two hundred and ninety-five dollars ($295) support levels.

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