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Ethereum -Price started a new rise in $ 2,000 zone. ETH is now more than 25% and consolidating profits near the $ 2,200 zone.
- Ethereum started a fresh wave above $ 2,000 resistance.
- The price acts above $ 2,120 and the 100-hour simple advancing average.
- There is a connecting bullish trend line that forms with support at $ 2,150 on the hourly table ETH/USD (data feed via Kraken).
- The couple can continue to rise if it breaks the resistance level of $ 2,250.
Ethereum -price rises above $ 2,000
Ethereum -Price remained supported and started a new rise above $ 1,880, which defeated Bitcoin. ETH was given pace for a movement above the $ 1,950 resistance zone.
The bulls could push the price above the $ 2,000 resistance zone. The price achieved more than 25% and recently surpassed the $ 2,200 resistance zone. A high was formed at $ 2,241 and the price is now consolidating profit above the 23.6% FIB retracement level of the upward movement of the $ 1,752 Swing low to $ 2,241 high.
Ethereum price is now traded above $ 2,200 and the 100-hour simple advancing average. By the way, there is a connecting bullish trend line that forms with support for $ 2,150 on the ETH/USD card per hour.
At the top the price seems to have to do with obstacles near the level of $ 2,240. The next key resistance is near the level of $ 2,250. The first major resistance is near the level of $ 2,320. A clear movement above the $ 2,320 resistance can send the price to $ 2,450 resistance. An upward break above the $ 2,450 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,500 resistance zone or even $ 2,550 in the short term.
Another decline of ETH?
If Ethereum did not know the resistance of $ 2,250, this can start a new downward correction. The first support on the disadvantage is near the level of $ 2,200. The first major support is near the $ 2,150 zone and the trend line.
A clear movement under the support of $ 2,150 can push the price to $ 2,075 support. All losses can send the price in the short term to the support level of $ 2.020. The next key support is at $ 2,000.
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 – $ 2,150
Large resistance level – $ 2,250