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Ethereum -Price started a new increase above $ 2,750 zone. ETH now corrects profits and can test the $ 2,680 support zone.
- Ethereum started a new increase above the level of $ 2,800.
- The price acts above $ 2,750 and the 100-hour simple advancing average.
- There was a break under an important bullish trend line that formed with support at $ 2,800 on the hourly table ETH/USD (data feed via Kraken).
- The couple can start a new increase if it remains above the support of $ 2,680 in the short term.
Ethereum -Prize corrects profits
Ethereum -Price started a new increase after it had found support near the $ 2,550 level, where Bitcoin was defeated. ETH price was able to erase the resistance levels of $ 2,650 and $ 2,720.
The bulls pushed the price above $ 2,800. ETH was even above $ 2,850. A high was formed at $ 2,880 and the price now corrects the profits. There was a movement below the 23.6% FIB racement level of the upward movement of the $ 2,483 Swing low to the $ 2,880 high.
By the way, there was a break under an important bullish trend line that formed with support for $ 2,800 on the ETH/USD graph per hour. Ethereum price is now traded above $ 2,750 and the 100-hour simple advancing average.
At the top the price can experience the resistance near the level of $ 2,800. The next key resistance is near the level of $ 2,840. The first major resistance is near the level of $ 2,880. A clear movement above the $ 2,880 resistance can send the price to $ 2,920 resistance.
An upward break above the $ 2,920 resistance can request more profit in the coming sessions. In the declared case, Ether could rise in the short term to the $ 3,000 resistance zone or even $ 3,120.
More losses in ETH?
If Ethereum did not know the resistance of $ 2,820, this can start a new decline. The first support at the disadvantage is near the level of $ 2,755. The first major support is near the $ 2,680 zone and the 50% FIB retracement level of the upward movement of the $ 2,483 swing low to $ 2,880 high.
A clear movement under the support of $ 2,680 can push the price to $ 2,620 support. 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 loses momentum in the bullish zone.
Hour RSI – The RSI for ETH/USD is now below 50 zone.
Major support level – $ 2,680
Large resistance level – $ 2,880