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Ethereum -Price shows positive signs above $ 2,650 zone. ETH exceeds Bitcoin and can start a new increase in the short term.
- Ethereum holds profits and strives for more profit.
- The price is traded above $ 2,650 and the 100-hour simple advancing average.
- There is a connecting bullish trend line that forms with support at $ 2,700 on the hourly table ETH/USD (data feed via Kraken).
- The couple could start a decent upward movement if it settles above $ 2,750 and $ 2,780.
Ethereum -Price again traction
Ethereum -Price tried a new increase above the level of $ 2,700, where Bitcoin was defeated. ETH broke the resistance of $ 2,750, but it was unable to erase in the $ 2,850 resistance zone.
A high was formed at $ 2,847 and the price started a new decrease. There was a movement under the support levels of $ 2,750 and $ 2,720. A low point was formed at $ 2,689 and the price now consolidates profits. There was a movement above the 23.6% FIB retracement level of the recent decrease of the $ 2,847 Swing high to $ 2,689 low.
Ethereum price is now traded above $ 2,700 and the 100-hour simple advancing average. There is also a connecting bullish trend line that forms with support for $ 2,700 on the hourly table ETH/USD.
At the top the price seems to have to do with obstacles near the level of $ 2,750. The first major resistance is near the $ 2,765 level or the 50% FIB retracement level of the recent decrease of the $ 2,847 Swing high to $ 2,689 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 the $ 2,850 resistance. An upward break above the $ 2,850 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise in the short term to the $ 3,000 resistance zone or even $ 3,050.
Another decline of 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 $ 2,700. The first major support is near the $ 2,680 zone.
A clear movement under the support of $ 2,680 can push the price to $ 2,620 support. 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 loses Momentum in the bearish zone.
Hour RSI – The RSI for ETH/USD is now below 50 zone.
Major support level – $ 2,700
Large resistance level – $ 2,750
