Ethereum -Price started a new increase above $ 3,220. ETH is now consolidating and can keep an eye on more profit above the $ 3,270 resistance zone.
- Ethereum started a new increase above $ 3,120 zone.
- The price is traded above $ 3,200 and the 100-hour simple advancing average.
- There was a break over an important bearish trend line with resistance at $ 3,200 on the hourly table ETH/USD (data feed via Kraken).
- The couple can start a different increase if it remains above the level of $ 3,200.
Ethereum -Price Restores
Ethereum -Price started a considerable increase in the $ 3,020 zone, such as Bitcoin. ETH was able to surpass the resistance levels of $ 3,120 and $ 3,150 to go to a positive zone.
There was a break above an important bearish trend line with resistance at $ 3,200 on the hourly table ETH/USD. The pair surpassed the 50% FIB retracement level of the downward movement of the $ 3,427 wing high to $ 3,020 swing low.
However, De Beren are now active in the vicinity of the resistance levels of $ 3,270 and $ 3,280. Ethereum price is now traded above $ 3,200 and the 100-hour simple advancing average.
At the top the price seems to have to do with obstacles near the $ 3,270 level and the 61.8% FIB retracement level of the downward movement of the $ 3,427 wing high to $ 3,020 swing low. The first major resistance is near the level of $ 3,330. The most important resistance is now almost $ 3,360. A clear movement above the $ 3,360 resistance can send the price to $ 3,450 resistance.
An upward break above the $ 3,450 resistance can request more profit in the upcoming sessions. In the indicated case, Ether could rise to the $ 3,550 resistance zone or even $ 3,650 in the short term.
Another drop in ETH?
If Ethereum did not know the resistance of $ 3,270, this can start a new decline. The first support on the disadvantage is near the level of $ 3,220. The first major support is near the $ 3,200.
A clear movement under the support of $ 3,200 can push the price to $ 3,120 support. All losses can send the price in the short term to the support level of $ 3,050. The next key support is at $ 3,000.
Technical indicators
Hour MacD – The MACD for ETH/USD is gaining force in the bullish zone.
Hour RSI – The RSI for ETH/USD is now above 50 zone.
Major support level – $ 3,200
Large resistance level – $ 3,270
