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Ethereum -Price started a recovery wave of the $ 2,000 support zone. ETH is rising now and can strive for a movement above the $ 2,350 resistance zone.
- Ethereum started a new upward movement above the $ 2,220 support zone.
- The price acts above $ 2,220 and the 100-hour simple advancing average.
- There is an important rising channel that forms with support at $ 2,200 on the hourly table ETH/USD (data feed via cracking).
- The couple must delete the resistance levels of $ 2,275 and $ 2,350 to start a considerable increase.
Ethereum Price Eyes A comeback -eyes
Ethereum -Price started a new decrease below $ 2,350 zone, such as Bitcoin. ETH received a bearish momentum under the support levels of $ 2,220 and $ 2,250.
A layer was formed at $ 2.003 and the price is now trying a recovery wave. There was a movement above the resistance levels of $ 2,150 and $ 2,200. It even tested the 50% FIB racement level of the downward movement of the $ 2,550 Swing high to the $ 2,003 low.
Ethereum price is now traded above $ 2,200 and the 100-hour simple advancing average. There is also an important rising channel that forms with support for $ 2,200 on the ETH/USD card per hour. At the top the price seems to have to do with obstacles near the level of $ 2,275.
The first major resistance is near the level of $ 2,340 and the 61.8% FIB retracement level of the downward movement of the $ 2,550 Swing high to the $ 2,003 low. A clear movement above the $ 2,340 resistance can send the price to $ 2,420 resistance.
An upward break above the $ 2,420 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,500 resistance zone or even $ 2,550 in the short term.
Another drop in ETH?
If Ethereum did not know the resistance of $ 2,275, this can start a new decline. The first support on the disadvantage is near the level of $ 2,240. The first major support is near the $ 2,220 zone.
A clear movement under the support of $ 2,130 can push the price to the $ 2,080 support. All losses can send the price in the short term to the support level of $ 2,050. The next key support is at $ 2,000.
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 – $ 2,220
Large resistance level – $ 2,275