Ethereum price found support near ,280 and started a fresh increase against the US Dollar. ETH price is currently trading well above ,700 and the 55 simple moving average (4-hours). There was a break a major bearish trend line with resistance near ,550 on the 4-hours chart (data feed from Coinbase). The pair is likely to continue higher towards the ,920 and ,000 resistance levels in the near term. Ethereum price is gaining pace from ,300 against the US Dollar. ETH/USD is likely to continue higher and it may soon revisit the ,000 zone in the near term. Ethereum Price Analysis After a major downside correction, Ethereum found support near the ,280 level against the US Dollar. ETH started a fresh increase and cleared the ,500 resistance to move into a
Topics:
Aayush Jindal considers the following as important: Altcoin News, ETH, Ethereum, News, Trading
This could be interesting, too:
Steve Muchoki writes Binance Founder Changpeng Zhao Apologizes in Letter to Presiding Judge Ahead of Upcoming Sentencing
Temitope Olatunji writes Figment Soars with Record-Breaking Growth in Q1 2024 and Expanded Staking Services
Chimamanda U. Martha writes Strike Launches Crypto Payment Services in Europe
Godfrey Benjamin writes Ripple IPO: David Schwartz Makes Key Expose on His Stock Option
- Ethereum price found support near $1,280 and started a fresh increase against the US Dollar.
- ETH price is currently trading well above $1,700 and the 55 simple moving average (4-hours).
- There was a break a major bearish trend line with resistance near $1,550 on the 4-hours chart (data feed from Coinbase).
- The pair is likely to continue higher towards the $1,920 and $2,000 resistance levels in the near term.
Ethereum price is gaining pace from $1,300 against the US Dollar. ETH/USD is likely to continue higher and it may soon revisit the $2,000 zone in the near term.
Ethereum Price Analysis
After a major downside correction, Ethereum found support near the $1,280 level against the US Dollar. ETH started a fresh increase and cleared the $1,500 resistance to move into a positive zone.
There was also a break a major bearish trend line with resistance near $1,550 on the 4-hours chart. The pair surged above the 50% Fib retracement level of the downward move from the $2,040 swing high to $1,287 low. The upward move even gained pace above the $1,600 resistance.
The price is currently trading well above $1,700 and the 55 simple moving average (4-hours). An immediate resistance is near the $1,860 zone.
The 76.4% Fib retracement level of the downward move from the $2,040 swing high to $1,287 low is also near the $1,860 zone to act as a resistance. If there is a clear break above $1,860, the price is likely to accelerate higher towards the $1,920 and $1,950 resistance levels.
The next major resistance is near the $2,000 level. Any more gains might call for a new all-time high above $2,050. Conversely, the price might start a downside correction from $1,860. An initial support is near the $1,800 level. The main support is now forming near the $1,720 zone, below which there is a risk of a drop towards the $1,600 level.
Ethereum Price
Looking at the chart, Ethereum price is clearly trading well above $1,700 and the 55 simple moving average (4-hours). Overall, ether price is likely to continue higher towards the $1,920 and $2,000 resistance levels in the near term.
Technical indicators
4 hours MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is now above the 50 level.
Key Support Levels – $1,800, followed by the $1,720 zone.
Key Resistance Levels – $1,860 and $2,000.