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Ethereum -price started a new increase above $ 2,450 zone. ETH now corrects the $ 2,520 profits and can slip to test the $ 2,320 zone.
- Ethereum started a new upward movement above the level of $ 2,350.
- The price is traded above $ 2,400 and the 100-hour simple advancing average.
- There was a break under a connecting bullish trend line with support for $ 2,450 on the hourly table ETH/USD (data special via Kraken).
- The couple can start a new increase if it remains stable above $ 2,320 zone in the short term.
Ethereum -Price Dips under the support
Ethereum -Price started a new increase above the support level of $ 2,320, such as Bitcoin. ETH price was able to erase the resistance levels of $ 2,350 and $ 2,450 to go to a positive zone.
The bulls even pushed the price above the 76.4% FIB retracement level of the downward movement of the $ 2,569 swing high to $ 2,115 low. However, the bulls were active above the level of $ 2,500. A high was formed at $ 2,520 and the price now corrects some profit.
There was a movement below the 23.6% FIB racement level of the upward movement of the $ 2,114 swing low to $ 2,520 high. By the way, there was a break under a connecting bullish trend line with support for $ 2,450 on the ETH/USD card per hour.
Ethereum price is now traded above $ 2,400 and the 100-hour simple advancing average. At the top the price can experience the resistance near the level of $ 2,500. The next key resistance is near the level of $ 2,520.
The first major resistance is near the level of $ 2,550. A clear movement above the $ 2,550 resistance can send the price to the $ 2,600 resistance. An upward break above the $ 2,600 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,720 resistance zone or even $ 2,800 in the short term.
More losses in ETH?
If Ethereum did not know the resistance of $ 2,520, this can start a new decline. The first support at the disadvantage is near the level of $ 2,400. The first major support is near the $ 2,320 zone.
A clear movement under the support of $ 2,320 can push the price to $ 2,250 support. More losses can send the price in the short term to the support level of $ 2,200. The following key support is at $ 2,150.
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.
Large support level – $ 2,320
Large resistance level – $ 2,520