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Ethereum -Price started a new increase above $ 2,350 zone. ETH now shows positive drawing and can strive for a movement above $ 2,550 zone.
- Ethereum started a new upward movement above the level of $ 2,320.
- The price acts above $ 2,350 and the 100-hour simple advancing average.
- There is a connecting bullish trend line that forms with support at $ 2,440 on the hourly table ETH/USD (data daai via Kraken).
- The couple could start a new increase if it settles above the $ 2,550 resistance zone in the short term.
Ethereum price eyes more profit
Ethereum -Price started a new increase above the support level of $ 2,250, such as Bitcoin. ETH price was able to erase the resistance levels of $ 2,320 and $ 2,350 to go to a positive zone.
The bulls even pushed the price above the 61.8% FIB retracement level of the downward movement of the $ 2,568 swing high to $ 2,115 low. The price is now confronted with obstacles near the $ 2,500 zone. Ethereum price is now traded above $ 2,450 and the 100-hour simple advancing average.
The price is now stuck in the vicinity of the 76.4% FIB racement level of the downward movement of the $ 2,568 swing high to $ 2,115 low. At the top the price can experience the resistance near the level of $ 2,480. The next key resistance is near the level of $ 2,500.
The first major resistance is near the level of $ 2,550. A clear movement above the $ 2,550 resistance can send the price to the $ 2,600 resistance. An upward break above the $ 2,600 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,720 resistance zone or even $ 2,800 in the short term.
Another drop in ETH?
If Ethereum did not know the resistance of $ 2,550, this can start a new decline. The first support on the disadvantage is near the level of $ 2,440 and the trend line. The first major support is near the $ 2,390 zone.
A clear movement under the support of $ 2,390 can push the price to $ 2,310 support. More losses can send the price in the short term to the support level of $ 2,220. The following key support is at $ 2,150.
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 – $ 2,310
Main resistance level – $ 2,550