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Ethereum -Price started a new increase of the $ 2,350 zone. ETH is now more than 35% and consolidating profits near the $ 2,500 zone.
- Ethereum started a new increase over the resistance of $ 2,350.
- The price is traded above $ 2,400 and the 100-hour simple advancing average.
- There is a connecting bullish trend line that forms with support at $ 2,480 on the hourly table ETH/USD (data daai via Kraken).
- The couple could continue to rise if it breaks the resistance level of $ 2,600.
Ethereum -price rises and knew $ 2,500
Ethereum -Price remained supported and started a new increase above $ 2,200, which defeated Bitcoin. ETH was given pace for a movement above the $ 2,350 resistance zone.
The bulls could push the price above the $ 2,500 resistance zone. The price achieved more than 35% and recently surpassed the $ 2,550 resistance zone. A high was formed at $ 2,606 and the price is now consolidating the profits. There was a small decrease below the 23.6% FIB racement level of the upward movement of the $ 2,272 Swing low to the $ 2,606 high.
Ethereum price is now traded above $ 2,500 and the 100-hour simple advancing average. In addition, there is a connecting bullish trend line that forms with support for $ 2,480 on the ETH/USD graph per hour.
At the top the price seems to be confronted with obstacles near the level of $ 2,550. The next key resistance is near the level of $ 2,600. The first major resistance is near the level of $ 2,620. A clear movement above the $ 2,620 resistance can send the price to $ 2,650 resistance.
An upward break above the $ 2,650 resistance can request more profit in the coming sessions. In the declared case, Ether could rise to the $ 2,720 resistance zone or even $ 2,780 in the short term.
Are dips limited in ETH?
If Ethereum did not know the resistance of $ 2,550, this can start a new downward correction. The first support on the disadvantage is near the level of $ 2,470. The first major support is near the $ 2,440 zone and the 50% FIB retracement level of the upward movement of the $ 2,272 swing low to $ 2,606 high.
A clear movement under the support of $ 2,440 can push the price to $ 2,350 support. More losses can send the price in the short term to the support level of $ 2,270. The following key support is at $ 2,220.
Technical indicators
Hour MacD – The MACD for ETH/USD loses momentum in the bullish zone.
Hour RSI – The RSI for ETH/USD is now above 50 zone.
Major support level – $ 2,440
Main resistance level – $ 2,550
Credit : www.newsbtc.com
