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Ethereum -Price started a new increase above $ 1,550 zone. ETH now corrects the profits of $ 1,680 and finding bids near the $ 1500 level.
- Ethereum started a considerable increase above the levels of $ 1,550 and $ 1,600.
- The price acts under $ 1,580 and the 100-hour simple advancing average.
- There is a new connecting Beerarish trend line that forms with resistance to $ 1,550 on the hourly table ETH/USD (data feed via Kraken).
- The couple can start a new increase if it knew the $ 1,580 resistance zone.
Ethereum -Price finishes profit
Ethereum -Price formed a base above $ 1,400 and started a new increase, such as Bitcoin. ETH was given pace for a movement above the resistance levels of $ 1,480 and $ 1,550.
The bulls even pumped the price above $ 1,600 zone. A high was formed at $ 1,687 and the price recently started a disadvantage correction. There was a movement under the $ 1,600 support zone. The price fell below the 50% FIB racement level of the upward movement of the $ 1,385 Swing low to the $ 1,687 high.
Ethereum price is now being traded under $ 1,580 and the 100-hour simple advancing average. At the top the price seems to have to do with obstacles near the level of $ 1,550. There is also a new connecting Beerarish trend line that forms with resistance at $ 1,550 on the ETH/USD card per hour.
The next key resistance is near the level of $ 1,580. The first major resistance is near the level of $ 1,620. A clear movement above the $ 1,620 resistance can send the price to $ 1,680 resistance. An upward break above the $ 1,680 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 1,750 resistance zone or even $ 1,800 in the short term.
More losses in ETH?
If Ethereum did not know the resistance of $ 1,580, this can start a downward correction. The first support at the disadvantage is near the level of $ 1,520. The first major support is near the $ 1,500 zone and the 61.8% FIB retracement level of the upward movement of the $ 1,385 Swing low to $ 1,687 high.
A clear movement under the support of $ 1500 can push the price to the support of $ 1,455. All losses can send the price in the short term to the support level of $ 1,420. The following key support is $ 1,380.
Technical indicators
Hour MacD – The MACD for ETH/USD loses momentum in the bullish zone.
Hour RSI – The RSI for ETH/USD is now below 50 zone.
Major support level – $ 1,500
Large resistance level – $ 1,580
