Ethereum Price Weekly Analysis: ETH Skyrockets, Dips Remain Supported

2019-2-10 07:28

ETH price formed a solid support at $100 and started a strong uptrend against the US Dollar. There was a break above a crucial bearish trend line with resistance at $104 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair traded as high as $122 and it is currently consolidating gains with range moves.

Ethereum price climbed higher sharply versus the US Dollar and Bitcoin. ETH/USD is now placed in a bullish zone above the $114 and $112 support levels in the near term.

Ethereum Price Analysis

This past week, we saw a fresh drop in ETH price towards the $102 and $100 support levels against the US Dollar. The ETH/USD pair found a strong buying interest near the $100 level and later started a strong upward move. It broke many resistances such as $104, $107, $112, $114 and $116. More importantly, there was a close above the $112 barrier and the 100 simple moving average (4-hours). It seems like a double bottom pattern was formed at $100, resulting in a bullish break above $110.

Moreover, there was a break above a crucial bearish trend line with resistance at $104 on the 4-hours chart of ETH/USD. The pair traded towards the $125 level and formed a high near $122. Later, the price started consolidating gains below the $120 level. It tested the 23.6% Fib retracement level of the last wave from the $100 low to $122 high. The current price action is positive above the $116 level. If there is a downside extension, the price may test $114 and the 100 simple moving average (4-hours). Besides, the 50% Fib retracement level of the last wave from the $100 low to $122 high is also near $111 level to act as a strong support.

The above chart indicates that ETH price is now placed nicely in a bullish zone above the $114 and $112 support levels. On the upside, the key resistances are $124, $125 and $132.

Technical Indicators

4-hours MACD – The MACD for ETH/USD is slowly reducing its bullish slope.

4-hours RSI – The RSI for ETH/USD is currently well above the 60 level.

Major Support Level – $114

Major Resistance Level – $124

The post Ethereum Price Weekly Analysis: ETH Skyrockets, Dips Remain Supported appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 2425.45 (-0.11%)
Объем 24H $17.748b
Изменеия 24h: -1.78 %, 7d: -7.45 %
Cегодня L: $2366.56 - H: $2431
Капитализация $292.065b Rank 2
Цена в час новости $ 117.81 (1958.78%)

eth price supported skyrockets analysis weekly dips

Источник: newsbtc.com

eth price → Результатов: 126


Фото:

Ethereum posts a new all-time high: What’s next for ETH?

Ethereum (ETH) reentered price discovery mode just four days after reaching an all-time high of $1,764 on Friday. What’s the reason behind the current price increase, and should you buy some ETH now? Fundamental analysis: DeFi sector and institutional inflows push the price up The second-largest cryptocurrency by market capitalization continued its price increase throughout […] The post Ethereum posts a new all-time high: What’s next for ETH? appeared first on Invezz.

2021-2-9 20:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum price briefly touches $2,700 as ETH comes to life

In an exciting turn of events for cryptocurrency enthusiasts, the Ethereum price has briefly touched the $2,700 mark. This resurgence is particularly noteworthy given the broader market dynamics and the strong performance of Bitcoin (BTC), which is nearing its all-time high of $73,794.

Cardano price prediction: will this ghost chain rebound?

Cardano price has been left in the dust this year, as investors focused on its lagging market share across the blockchain industry and its high valuation. ADA has plunged by over 35% this year, while Bitcoin has soared by 65% and moved to its highest level on record.