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Ethereum -Price started a new increase compared to the $ 2,080 zone. ETH is now back above $ 2,400 and is confronted with obstacles near the $ 2,550 level.
- Ethereum started a considerable increase above the $ 2,350 resistance zone.
- The price acts above $ 2,350 and the 100-hour simple advancing average.
- There was a break over an important bearish trend line with resistance at $ 2,240 on the hourly table ETH/USD (data feed via Kraken).
- The couple must delete the resistance levels of $ 2,500 and $ 2,550 to stay higher.
Ethereum Price Rallies 10%
Ethereum -price extended losses under $ 2,200 before the bulls appeared, such as Bitcoin. ETH tested the $ 2,080 zone and recently started a strong increase. There was a movement above the resistance levels of $ 2,200 and $ 2,320.
There was a break over an important bearish trend line with resistance at $ 2,240 on the ETH/USD card per hour. The pair even rose above the resistance level of $ 2,500. A high was formed at $ 2,550 and the price now corrects some profit.
There was a movement below the 23.6% FIB racement level of the upward movement of the $ 2,173 Swing low to the $ 2,550 high. Ethereum price is now traded above $ 2,350 and the 100-hour simple advancing average.
At the top the price seems to have to do with obstacles near the level of $ 2,500. The first major resistance is near the level of $ 2,520. The most important resistance is now almost $ 2,550. A clear movement above the $ 2,550 resistance can send the price to $ 2,650 resistance.
An upward break above the $ 2,650 resistance can request more profit in the coming sessions. In the declared case, Ether could rise to the $ 2,780 or even $ 2,850 resistance zone in the short term.
Another decline of ETH?
If Ethereum did not know the resistance of $ 2,550, this can start a new decline. The first support at the disadvantage is near the level of $ 2,400. The first major support is near the $ 2,360 zone or the 50% FIB retracement level of the upward movement of the $ 2,173 Swing low to $ 2,550 high.
A clear movement under the support of $ 2,360 can push the price to $ 2,320 support. More losses can send the price in the short term to the support level of $ 2,220. The following key support is at $ 2,080.
Technical indicators
Hour MacD – The MACD for ETH/USD loses momentum in the bullish zone.
Hour RSI – The RSI for ETH/USD is now above 50 zone.
Major support level – $ 2,360
Main resistance level – $ 2,550
