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Home»Analysis»Ethereum – Price builds strength – will it finally break higher?
Analysis

Ethereum – Price builds strength – will it finally break higher?

2025-02-20No Comments3 Mins Read
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Este Artículo También Está Disponible and Español.

Ethereum -Price shows positive signs above $ 2,650 zone. ETH rises as a bitcoin and can start a new increase in the short term.

  • Ethereum still shows positive signs above $ 2,620 zone.
  • The price is traded above $ 2,680 and the 100-hour simple advancing average.
  • There was a break above an important contracting triangle with resistance at $ 2,700 on the hourly table ETH/USD (data feed via cracking).
  • The couple could start a decent upward movement if it settles above $ 2,725 and $ 2,755.

Ethereum Price eyes upside down Pause

Ethereum -Price remained supported above the level of $ 2,500 and recently started a considerable upward move, such as Bitcoin. ETH broke the $ 2,620 resistance to go to a bullish zone in the short term.

There was a break above a key contraction -triangle with resistance at $ 2,700 on the ETH/USD card per hour. The price was able to exceed the level of $ 2,720 and tested the 50% FIB retracement level of the downward movement of the $ 2,845 Swing high to $ 2,605 low.

Ethereum price is now traded above $ 2,680 and the 100-hour simple advancing average. At the top the price seems to have to do with obstacles near the level of $ 2,725.

The first major resistance is near the level of $ 2,755 or the 61.8% FIB retracement level of the downward movement of the $ 2,845 Swing high to $ 2,605 low. The most important resistance is now almost $ 2,800 or $ 2,820.

Ethereum -Price
Source: Ethusd on TradingView.com

A clear movement above the $ 2,820 resistance can send the price to $ 2,880 resistance. An upward break above the $ 2,880 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,920 resistance zone or even $ 3,000 in the short term.

See also  'Big Short' Investor Steve Eisman Predicts Fed Will Be Hawkish by 2024, Says US Banks Could Pay the Price

Another decline of ETH?

If Ethereum did not know the resistance of $ 2,755, this can start a new decline. The first support at the disadvantage is near the level of $ 2,700. The first major support is near the $ 2,660 zone.

A clear movement under the support of $ 2,660 can push the price to the support of $ 2,620. All losses can send the price in the short term to the support level of $ 2,550. The following key support is at $ 2,500.

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.

Large support level – $ 2,660

Large resistance level – $ 2,755

Source link

Break builds Ethereum Finally Higher Price strength
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