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Ethereum Price Analysis: Rally Pauses But Not Likely Over

Summary:
Ethereum price is gaining pace above the ,500 level against the US Dollar. ETH price is now trading above ,450 and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near ,540 on the 4-hours chart (data feed from Coinbase). The pair could climb further if it clears the ,600 resistance zone. Ethereum price is rising above the ,450 level against the US Dollar. ETH/USD could rise further if it clears the ,600 resistance zone. Ethereum Price Analysis In the past few days, ethereum saw a strong increase above the ,350 level against the US Dollar. ETH price was able to gain pace for a move above the ,450 level and the 55 simple moving average (4-hours). The bulls even cleared the ,500 resistance zone. The price

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  • Ethereum price is gaining pace above the $1,500 level against the US Dollar.
  • ETH price is now trading above $1,450 and the 55 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $1,540 on the 4-hours chart (data feed from Coinbase).
  • The pair could climb further if it clears the $1,600 resistance zone.

Ethereum price is rising above the $1,450 level against the US Dollar. ETH/USD could rise further if it clears the $1,600 resistance zone.

Ethereum Price Analysis

In the past few days, ethereum saw a strong increase above the $1,350 level against the US Dollar. ETH price was able to gain pace for a move above the $1,450 level and the 55 simple moving average (4-hours).

The bulls even cleared the $1,500 resistance zone. The price even spiked above the $1,600 level and formed a high near the $1,603 level. It is now consolidating gains above the $1,500 level. It is consolidating near the 23.6% Fib retracement level of the upward move from the $1,322 swing low to $1,603 high.

It is now trading above $1,450 and the 55 simple moving average (4-hours). An immediate resistance on the upside is near the $1,580 level. The next major resistance is near the $1,600 zone.

Any more gains could even send the price towards the $1,650 resistance zone in the near term. On the downside, an initial support is near the $1,540 level. There is also a key bullish trend line forming with support near $1,540 on the 4-hours chart.

The next major support is now near the $1,500 level. The main support is near the $1,460 level or the 50% Fib retracement level of the upward move from the $1,322 swing low to $1,603 high.

A break below the $1,460 support could push the price to $1,350. Any more losses could lead the price towards $1,300 or even $1,220 in the coming days.

Ethereum Price Analysis: Rally Pauses But Not Likely Over

Ethereum Price

Looking at the chart, Ethereum price is clearly trading above the $1,450 zone and the 55 simple moving average (4-hours). Overall, ether price could climb further if it clears the $1,600 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 – $1,540, followed by the $1,460 zone.

Key Resistance$ Levels – $1,600 and $1,650.

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