Ethereum price is moving higher above the ,750 resistance against the US Dollar. ETH price is now trading above ,750 and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support near ,880 on the 4-hour chart (data feed from Coinbase). The pair could climb further if it stays above the ,750 support zone. Ethereum price is rising above the ,800 level against the US Dollar. ETH/USD could rise further if it clears the ,950 resistance zone. Ethereum Price Analysis In the past few sessions, Ethereum saw a decent increase above the ,650 level against the US Dollar. ETH price was able to gain pace for a move above the ,750 level and the 55 simple moving average (4 hours). The bulls even pushed the price above the
Topics:
Aayush Jindal considers the following as important: Altcoin News, ETH, News, Trading
This could be interesting, too:
Pareesh Phulkar writes P’Nut the Squirrel: Could This Be the Second Coming?
Bilal Hassan writes Sheila Warren to Step Down as CEO of CCI in January
Bilal Hassan writes Sui Partners with Ant Digital to Tokenize ESG Assets
Bilal Hassan writes Riot Platforms Boosts Bitcoin Holdings with 0 Million Purchase
- Ethereum price is moving higher above the $2,750 resistance against the US Dollar.
- ETH price is now trading above $2,750 and the 55 simple moving average (4 hours).
- There is a key bullish trend line forming with support near $2,880 on the 4-hour chart (data feed from Coinbase).
- The pair could climb further if it stays above the $2,750 support zone.
Ethereum price is rising above the $2,800 level against the US Dollar. ETH/USD could rise further if it clears the $2,950 resistance zone.
Ethereum Price Analysis
In the past few sessions, Ethereum saw a decent increase above the $2,650 level against the US Dollar. ETH price was able to gain pace for a move above the $2,750 level and the 55 simple moving average (4 hours).
The bulls even pushed the price above the $2,800 resistance zone. A high is formed near $2,985 and the price is now consolidating gains. It is trading above the $2,850 level. It is near above the 23.6% Fib retracement level of the upward wave from the $2,719 swing low to the $2,985 high.
Ether price is showing positive signs above $2,850 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $2,880 on the 4-hour chart.
Immediate resistance on the upside is near the $2,950 level. The next major resistance is near the $3,000 zone. A clear move above the $3,000 level could send the price toward $3,120. Any more gains could even send the price toward the $3,200 resistance zone or $3,250 in the near term.
On the downside, initial support is near the $2,880 level. The next major support is now near the $2,850 level or 50% Fib retracement level of the upward wave from the $2,719 swing low to the $2,985 high, below which the price might test $2,750. A break below the $2,750 support could push the price to $2,640. Any more losses could lead the price towards $2,550.
Looking at the chart, Ethereum’s price is trading above the $2,850 zone and the 55 simple moving average (4 hours). Overall, Ether’s price could climb further if it stays above the $2,750 support 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 – $2,850, followed by the $2,750 zone.
Key Resistance$ Levels – $2,950 and $3,000.