Ethereum price started a new increase above $ 2,520 zone. ETH is now back above $ 2,550 and will soon strive for more profit.
- Ethereum started a new increase above the level of $ 2,550.
- The price is traded above $ 2,565 and the 100-Urly simple advancing average.
- There was a break over an important bearish trend line with resistance at $ 2,520 on the hourly table ETH/USD (data feed via Kraken).
- The couple could start a new increase if it is supported above $ 2,520 zone in the short term.
Ethereum price eyes more profit
Ethereum -price started a new increase above $ 2,520 zone, such as Bitcoin. ETH price was given pace for a movement above the $ 2,550 resistance zone and entered a positive zone.
The bulls could push the price above the 50% FIB retraction level of the downward movement of the $ 2,636 swing high to $ 2,475 low. Moreover, there was a break over an important bearish trend line with resistance at $ 2,520 on the ETH/USD card per hour.
Ethereum price is now traded above $ 2,565 and the 100-hour simple advancing average. At the top the price can experience the resistance near the level of $ 2,600. It is close to the 76.4% FIB racement level of the downward movement of the $ 2,636 Swing high to the $ 2,475 low.
The next key resistance is near the level of $ 2,620. 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 declared case, Ether could rise to the $ 2,750 resistance zone or even $ 2,800 in the short term.
Another decline of ETH?
If Ethereum did not know the resistance of $ 2,600, this can start a new decline. The first support at the disadvantage is near the level of $ 2,550. The first major support is near the $ 2,520 zone.
A clear movement under the support of $ 2,520 can push the price to $ 2,500 support. All losses can send the price in the short term to the support level of $ 2,420. The following key support is at $ 2,350.
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 – $ 2,520
Large resistance level – $ 2,600