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Ethereum -Price shows positive signs above $ 2,650 zone. ETH rises as a bitcoin and can start a new increase in the short term.
- Ethereum still shows positive signs above $ 2,620 zone.
- The price is traded above $ 2,680 and the 100-hour simple advancing average.
- There was a break above an important contracting triangle with resistance at $ 2,700 on the hourly table ETH/USD (data feed via cracking).
- The couple could start a decent upward movement if it settles above $ 2,725 and $ 2,755.
Ethereum Price eyes upside down Pause
Ethereum -Price remained supported above the level of $ 2,500 and recently started a considerable upward move, such as Bitcoin. ETH broke the $ 2,620 resistance to go to a bullish zone in the short term.
There was a break above a key contraction -triangle with resistance at $ 2,700 on the ETH/USD card per hour. The price was able to exceed the level of $ 2,720 and tested the 50% FIB retracement level of the downward movement of the $ 2,845 Swing high to $ 2,605 low.
Ethereum price is now traded above $ 2,680 and the 100-hour simple advancing average. At the top the price seems to have to do with obstacles near the level of $ 2,725.
The first major resistance is near the level of $ 2,755 or the 61.8% FIB retracement level of the downward movement of the $ 2,845 Swing high to $ 2,605 low. The most important resistance is now almost $ 2,800 or $ 2,820.
A clear movement above the $ 2,820 resistance can send the price to $ 2,880 resistance. An upward break above the $ 2,880 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.
Another decline of ETH?
If Ethereum did not know the resistance of $ 2,755, this can start a new decline. The first support at the disadvantage is near the level of $ 2,700. The first major support is near the $ 2,660 zone.
A clear movement under the support of $ 2,660 can push the price to the support of $ 2,620. All losses can send the price in the short term to the support level of $ 2,550. The following key support is at $ 2,500.
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 – $ 2,660
Large resistance level – $ 2,755