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Ethereum -Price found support for $ 2,460 and started a new increase. ETH is now rising and can strive for a movement above the $ 2,600 resistance zone.
- Ethereum started a considerable increase above the levels of $ 2,500 and $ 2,520.
- The price acts above $ 2,520 and the 100-hour simple advancing average.
- There was a break over a connecting bearish trend line with resistance at $ 2,540 on the hourly table ETH/USD (data feed via Kraken).
- The couple can become stronger if it knew the $ 2,600 resistance in the short term.
Ethereum -Price finds support
Ethereum Price started a considerable rise after Bitcoin was traded to a new of all time. ETH tested the $ 2,720 zone before there was a downward correction. The price fell under $ 2,500 and tested $ 2,450.
A low point was formed at $ 2,463 and the price is rising again. There was a movement above the $ 2500 resistance. The price exceeded the 23.6% FIB retracement level of the downward movement of the $ 2,729 Swing high to $ 2,463 low. There was also a break over a connecting bearish trend line with resistance at $ 2,540 on the ETH/USD card per hour.
Ethereum price is now traded above $ 2,520 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 50% FIB racement level of the downward movement of the $ 2,729 Swing high to $ 2,463 low.
The next key resistance is near the level of $ 2,630. 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 $ 2,800 resistance zone or even $ 2,850 in the short term.
Are dips supported in 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 $ 2,520. The first major support is near the $ 2,500 zone.
A clear movement under the support of $ 2,500 can push the price to $ 2,460 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.
Major support level – $ 2,500
Large resistance level – $ 2,600