Ethereum -Price started a new increase above $ 3,500 zone. ETH now shows bullish drawing and can continue to rise to the $ 3,800 zone.
- Ethereum started a new increase above the level of $ 3,350.
- The price is traded near $ 3,500 and the 100-hour simple advancing average.
- There is an important bullish trend line that forms with support for $ 3,490 on the hourly table ETH/USD (data feed via Kraken).
- The couple could start a new increase if it is supported in the short term above $ 3,350 zone.
Ethereum -price increases above $ 3,500
Ethereum -Price started a new increase above $ 3,220 zone, better than Bitcoin. ETH price was given pace for a movement above the $ 3,350 resistance zone to stay in a positive zone.
The bulls even pumped the price above $ 3,500. Finally, it tested the $ 3,620 zone. A high was formed at $ 3,627 and the price is now consolidating profit above the 23.6% FIB retracement level of the upward movement of the $ 2,935 Swing low to $ 3,627 high.
Ethereum price is now traded above $ 3,500 and the 100-hour simple advancing average. There is also an important bullish trend line that forms with support for $ 3,500 on the hourly table ETH/USD.
At the top the price can experience the resistance near the level of $ 3,630. The next key resistance is near the level of $ 3,650. The first major resistance is near the level of $ 3,720. A clear movement above the $ 3,720 resistance can send the price to the $ 3,800 resistance.
An upward break above the $ 3,800 resistance can request more profit in the upcoming sessions. In the aforementioned case, Ether could rise to the $ 3,880 resistance zone or even $ 4,000 in the short term.
Are the disadvantages limited in ETH?
If Ethereum did not know the resistance of $ 3,630, this can start a downward correction. The first support at the disadvantage is near the level of $ 3,550. The first major support is near the $ 3,500 zone and the trend line.
A clear movement under the support of $ 3,500 can push the price to $ 3,420 support. All losses can send the price in the short term to the support level of $ 3,350. The following key support is at $ 3,220.
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 – $ 3,500
Large resistance level – $ 3,650