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Ethereum price is higher above $ 2,600 zone. ETH can get bullish momentum if it knew the $ 2,800 resistance zone.
- Ethereum started a new increase above the resistance level of $ 2,650.
- The price is traded above $ 2,680 and the 100-hour simple advancing average.
- There was a break above an important bearish trend line with resistance at $ 2,680 on the hourly table ETH/USD (data feed via Kraken).
- The couple could start a decent upward movement if it settles above $ 2,780 and $ 2,800.
Ethereum price eyes more profit
Ethereum -price remained supported above the level of $ 2,500, such as Bitcoin. ETH formed a basis and recently started a new increase above the resistance levels of $ 2,600 and $ 2,620.
There was a break over an important bearish trend line with resistance at $ 2,680 on the ETH/USD per hour. The bulls pumped the pair above the level of $ 2,700. It acted as high as $ 2,794 before there was a small withdrawal. The price fell below the level of $ 2,750.
There was a movement below the 23.6% FIB racement level of the upward wave of the $ 2,550 Swing low to the $ 2,794 high. 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 $ 2,750. The first major resistance is near the level of $ 2,780. 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 $ 2,920 resistance.
An upward break above the $ 2,920 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 $ 2,780, this can start a new decline. The first support for the disadvantage is near the level of $ 2,675 or the 50% FIB retracement level of the upward wave of the $ 2,550 Swing Low to the $ 2,794 High. The first major support is near the $ 2,640 zone.
A clear movement under the support of $ 2,640 can push the price to $ 2,600 support. All losses can send the price in the short term to the support level of $ 2,550. The following key support is $ 2,440.
Technical indicators
Hour MacD – The MACD for ETH/USD loses momentum in the bullish zone.
Hour RSI – The RSI for ETH/USD is now above 50 zone.
Large support level – $ 2,675
Large resistance level – $ 2,780
