Ethereum price is gaining pace above the ,550 level against the US Dollar. ETH price is now trading above ,500 and the 55 simple moving average (4-hours). There is a connecting bullish trend line forming with support near ,610 on the 4-hours chart (data feed from Coinbase). The pair could climb further if it clears the ,680 resistance zone. Ethereum price is rising above the ,550 level against the US Dollar. ETH/USD could rise further if it clears the ,680 resistance zone. Ethereum Price Analysis In the past few days, ethereum saw a strong increase above the ,450 level against the US Dollar. ETH price was able to gain pace for a move above the ,550 level and the 55 simple moving average (4-hours). The bulls even cleared the ,600 resistance zone. The
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- Ethereum price is gaining pace above the $1,550 level against the US Dollar.
- ETH price is now trading above $1,500 and the 55 simple moving average (4-hours).
- There is a connecting bullish trend line forming with support near $1,610 on the 4-hours chart (data feed from Coinbase).
- The pair could climb further if it clears the $1,680 resistance zone.
Ethereum price is rising above the $1,550 level against the US Dollar. ETH/USD could rise further if it clears the $1,680 resistance zone.
Ethereum Price Analysis
In the past few days, ethereum saw a strong increase above the $1,450 level against the US Dollar. ETH price was able to gain pace for a move above the $1,550 level and the 55 simple moving average (4-hours).
The bulls even cleared the $1,600 resistance zone. The price even spiked above the $1,650 level and formed a high near the $1,680 level. It is now consolidating gains above the $1,600 level. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $1,500 swing low to $1,680 high.
It is now trading above $1,550 and the 55 simple moving average (4-hours). An immediate resistance on the upside is near the $1,650 level. The next major resistance is near the $1,680 zone.
Any more gains could even send the price towards the $1,750 resistance zone in the near term. On the downside, an initial support is near the $1,610 level. There is also a connecting bullish trend line forming with support near $1,610 on the 4-hours chart.
The next major support is now near the $1,590 level. The main support is near the $1,580 level or the 50% % Fib retracement level of the upward move from the $1,500 swing low to $1,680 high.
A break below the $1,580 support could push the price to $1,520. Any more losses could lead the price towards $1,450 or even $1,320 in the coming days.
Ethereum Price
Looking at the chart, Ethereum price is clearly trading above the $1,550 zone and the 55 simple moving average (4-hours). Overall, ether price could climb further if it clears the $1,680 resistance zone.
Technical indicators
4 hours MACD – The MACD for ETH/USD is now 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 – $1,610, followed by the $1,580 zone.
Key Resistance$ Levels – $1,650 and $1,680.