Ethereum price gained pace above the ,100 and ,200 resistance levels against the US Dollar. ETH price is now trading well above ,100 and the 55 simple moving average (4-hours). There is a major bullish trend line forming with support near ,200 on the 4-hours chart (data feed from Coinbase). The pair could either decline heavily or it might start a fresh increase above ,300 in the near term. Ethereum price is struggling to hold gains above ,200 against the US Dollar. ETH/USD could decline heavily if it fails to stay above ,200 and ,150. Ethereum Price Analysis There was a decent increase in ethereum above the ,000 support zone against the US Dollar. ETH price broke the ,100 level and settled above the 55 simple moving average (4-hours). The bulls
Topics:
Aayush Jindal considers the following as important: Altcoin News, ETH, Ethereum, News, Trading
This could be interesting, too:
Chimamanda U. Martha writes Avail Teams Up with Leading Blockchain Platforms for Data Integration
Steve Muchoki writes Aligned Layer Successfully Raised M in Series A Funding Round Led by Hack VC
Mayowa Adebajo writes BNB Chain to Move Native Liquid Staking Feature to BSC
Temitope Olatunji writes Renzo (REZ) Addresses Community Backlash with Airdrop Adjustment and Token Stabilization Efforts
- Ethereum price gained pace above the $2,100 and $2,200 resistance levels against the US Dollar.
- ETH price is now trading well above $2,100 and the 55 simple moving average (4-hours).
- There is a major bullish trend line forming with support near $2,200 on the 4-hours chart (data feed from Coinbase).
- The pair could either decline heavily or it might start a fresh increase above $2,300 in the near term.
Ethereum price is struggling to hold gains above $2,200 against the US Dollar. ETH/USD could decline heavily if it fails to stay above $2,200 and $2,150.
Ethereum Price Analysis
There was a decent increase in ethereum above the $2,000 support zone against the US Dollar. ETH price broke the $2,100 level and settled above the 55 simple moving average (4-hours).
The bulls gained strength and the price climbed above the $2,300 level. A high was formed near $2,388 and the price is now correcting lower. It broke the $2,320 and $2,300 support levels. There was a break below the 23.6% Fib retracement level of the recent increase from the $2,018 swing low to $2,388 high.
It is now trading near the $2,200 support and the 55 simple moving average (4-hours). There is also a major bullish trend line forming with support near $2,200 on the 4-hours chart.
If there is a downside break below the trend line, the price could test the $2,150 support. The 55 SMA is also near $2,150. Any more losses might lead the price towards the $2,000 support zone. Any more losses could set the pace for a drop towards the $1,850 support zone in the near term.
An immediate resistance is near the $2,250 level. The next major resistance is near the $2,275 level (the last key breakdown zone). Any more gains could set the pace for a move towards the $2,400 level. The next major resistance is near the $2,500 level.
Ethereum Price
Looking at the chart, Ethereum price is clearly trading well above the $2,100 zone and the 55 simple moving average (4-hours). Overall, ether price could either decline heavily or it might start a fresh increase above $2,300 in the near term.
Technical indicators
4 hours MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is still above the 50 level.
Key Support Levels – $2,200, followed by the $2,150 zone.
Key Resistance Levels – $2,275 and $2,400.