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Ethereum -Price found support for $ 2,320 and started a new increase. ETH is rising now and can strive for a movement above the $ 2,650 resistance zone.
- Ethereum started a considerable increase above the levels of $ 2,450 and $ 2,500.
- The price is traded above $ 2,500 and the 100-hour simple advancing average.
- There was a break above a connecting bearish trend line with resistance at $ 2,530 on the hourly table ETH/USD (data feed via Kraken).
- The couple can get strength if it knew the resistance of $ 2,650 in the short term.
Ethereum -Price again traction
Ethereum -Price started a downward correction below the level of $ 2,450, in contrast to Bitcoin. ETH traded under the support levels of $ 2,400 and $ 2,350. However, the bulls were active near the $ 2,300 zone.
A low point was formed at $ 2,308 and the price started a new rise. There was a movement above the levels of $ 2,450 and $ 2,500. The price exceeded the 61.8% FIB retracement level of the downward movement of the $ 2,583 Swing high to the $ 2,308 low.
By the way, there was a break over a connecting Bearish trend line with resistance at $ 2,530 on the ETH/USD card per hour. Ethereum price is now traded above $ 2,540 and the 100-hour simple advancing average. The price is also above the 76.4% FIB racement level of the downward movement of the $ 2,583 Swing high to the $ 2,308 low.
At the top the price can experience the resistance near the level of $ 2,580. The next key resistance is near the level of $ 2,600. The first major resistance is near the level of $ 2,650. A clear movement above the $ 2,650 resistance can send the price to $ 2,720 resistance.
An upward break above the $ 2,720 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,780 resistance zone or even $ 2,840 in the short term.
Another decline of ETH?
If Ethereum did not know the resistance of $ 2,650, this can start a new decline. The first support at the disadvantage is near the level of $ 2,520. The first major support is near the $ 2,450 zone.
A clear movement under the support of $ 2,450 can push the price to $ 2,420 support. All losses can send the price in the short term to the support level of $ 2,320. The following key support is at $ 2,250.
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 – $ 2,450
Large resistance level – $ 2,650