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Ethereum -Price found support for $ 2,500 and started a new increase. ETH is rising now and can strive for a movement above the $ 2,750 resistance zone.
- Ethereum started a considerable increase above the levels of $ 2,550 and $ 2,620.
- The price acts above $ 2,540 and the 100-hour simple advancing average.
- There is a connecting bullish trend line that forms with support at $ 2,550 on the hourly table ETH/USD (data feed via Kraken).
- The couple can become stronger if it knew the $ 2,750 resistance in the short term.
Ethereum -Prize wins strength
Ethereum Price started a considerable rise after Bitcoin was traded to a new of all time. ETH Bulls were active in the vicinity of the $ 2,500 zone and the price climbed over the resistance of $ 2,600.
There was a movement above the levels of $ 2,620 and $ 2,650. The price was even above $ 2,720. A high was formed at $ 2,731 and the price is now consolidating profit above the 23.6% FIB retracement level of the upward movement of the $ 2,442 Swing low to $ 2,731 high.
Ethereum price is now traded above $ 2,675 and the 100-hour simple advancing average. There is also a connecting bullish trend line that forms with support at $ 2,550 on the hour table ETH/USD.
At the top the price can experience the resistance near the level of $ 2,740. The next key resistance is near the level of $ 2,750. The first major resistance is near the level of $ 2,800. A clear movement above the $ 2,800 resistance can send the price to $ 2,840 resistance.
An upward break above the $ 2,840 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,920 resistance zone or even $ 3,000 in the short term.
Are dips limited in ETH?
If Ethereum did not know the resistance of $ 2,750, this can start a new decline. The first support at the disadvantage is near the level of $ 2,675. The first major support is near the $ 2,550 zone and the trend line. It is close to the 61.8% FIB retraction level of the upward movement of the $ 2,442 Swing low to the $ 2,731 high.
A clear movement under the support of $ 2,550 can push the price to $ 2,500 support. More losses can send the price in the short term to the support level of $ 2,450. The following key support is at $ 2,420.
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 – $ 2,550
Large resistance level – $ 2,740