TA: Why Ethereum (ETH) Looks Ready For Another Leg Higher Over $3K

2021-8-6 08:08

Ethereum started a strong rally above the $2,550 resistance against the US Dollar. ETH price is now consolidating gains and it could rise further towards $3,000.

Ethereum gained pace after it broke the key $2,550 resistance zone. The price is now trading well above $2,600 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $2,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher as long as it is above the $2,550 support zone. Ethereum Price Starts Fresh Rally

Ethereum formed a support base above the $2,450 zone. As a result, there was a fresh increase and ETH price climbed above the $2,550 resistance zone to enter a bullish zone, outpacing bitcoin.

There was also a break above a major bearish trend line with resistance near $2,600 on the hourly chart of ETH/USD. The pair gained pace above the $2,600 level and it settled nicely above the 100 hourly simple moving average.

A high was formed near $2,770 and the price is now correcting gains. It broke the $2,700 support level. Ether price even declined below the 23.6% Fib retracement level of the recent rally from the $2,461 swing low to $2,770 high.

Source: ETHUSD on TradingView.com

It is now consolidating above the $2,665 support zone. On the upside, an immediate resistance is near the $2,720 level. The next key resistance is near the $2,750 level. A clear break and close above the $2,750 and $2,770 resistance levels might start another increase. In the stated case, the price could rally above $2,800. The next stop for the bulls may possibly be near the $3,000 level.

Dips Limited in ETH?

If ethereum fails to continue higher above the $2,750 and $2,770 resistance levels, it could start an extended downside correction. An immediate support on the downside is near the $2,665 level.

The next major support is near the $2,620 level. It is near the 50% Fib retracement level of the recent rally from the $2,461 swing low to $2,770 high. Any more losses could lead the price towards the $2,550 support zone and the 100 hourly simple moving average.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now well above the 50 level.

Major Support Level – $2,620

Major Resistance Level – $2,750

origin »

Bitcoin price in Telegram @btc_price_every_hour

Ethereum (ETH) на Currencies.ru

$ 1804.44 (-0.41%)
Объем 24H $17.255b
Изменеия 24h: 0.78 %, 7d: 11.85 %
Cегодня L: $1792.6 - H: $1815.5
Капитализация $217.766b Rank 2
Цена в час новости $ 2771.02 (-34.88%)

ethereum 550 resistance eth could gains consolidating

Источник: newsbtc.com

ethereum 550 → Результатов: 53


Crypto Tidbits: Bitcoin Holds $9k, Ethereum DeFi Gains Traction, Trump Talked BTC in 2018

Another week, another round of Crypto Tidbits. It’s been a relatively mild week for the Bitcoin market, much unlike previous ones. The cryptocurrency started the week around $9,300 and ended the week right around that level, with BTC changing hands between $8,900 and $9,550 for the past seven days. Each attempt at breaking out of the […]

2020-6-20 03:00


Фото:

Мнение: мошенники нашли новый способ отмывать деньги через Ethereum

В сети Ethereum зафиксирована еще одна транзакция с необычно высокой комиссией. С адреса, который, предположительно имеет отношение к майнинг-пулу MiningPoolHub неизвестный перевел 3221 ETH с комиссией 2310 ETH (почти $550 тыс.

2020-6-12 12:35


What Pushed Bitcoin Up 65% in 2 Months? Top Fund Manager Explains

Since the middle of December, Bitcoin has been on an absolute tear higher, rallying from $6,400 to $10,550 earlier this week, per data from TradingView. This marks a surge of over 60%, meaning that the cryptocurrency outpaced a majority of other multi-billion-dollar assets save for Ethereum, XRP, and Tesla. This strong surge comes shortly after...

2020-2-15 07:00


Анализ основных криптовалютных пар на 11.06.2018

BTC/USD После того, как под воздействием бычьего импульса цена Bitcoin вышла из флэта, пара на снижении потеряла почти 13% и вчера установила минимум в точке 6627. 70 USD. Падение не было неожиданным, хотя такой интенсивности мало кто ожидал.

2018-6-11 10:42

дальше еще 4 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Smart Money Might Be Repeating This Playbook — ETH Soared 173% Last Time

After a fairly good performance in April, the Ethereum price has reversed almost all its recent gains over the past month. As it crumbled under the weight of the bears heading into the weekend, the altcoin eventually found a cushion of support just above $2,000 in the early hours of Saturday. However, the Ethereum token seems […]

Ethereum Cools Off Below $2,450 – Lower Leverage Sets The Stage For A Breakout

Ethereum is testing resistance as the market heats up and buyers attempt to force a decisive break above the level that has capped the recovery for nearly a month. The price action is building toward a resolution — and top analyst Darkfost has examined the derivatives data behind the current setup in a way that adds structural context to both the consolidation and what it might take to end it.

Ethereum Leverage Ratio Sees Sharp Drop: What It Means

Data shows the Estimated Leverage Ratio has seen a sharp decline for Ethereum on Binance, a sign that traders have been pulling back on risk. Ethereum Leverage Ratio Has Dropped To A Value Of 0.57 As pointed out by an analyst in a CryptoQuant Quicktake post, speculative activity in the Binance Ethereum derivatives market has […]

Ethereum Is Finally Rewarding Risk Again – But the Direction Has Changed

Ethereum is pushing against the $2,400 level but has not been able to close above it, caught in a market that is heating up around it, while the price action remains tentative. The broader environment is increasingly constructive, but ETH is still navigating the lingering effects of the correction that defined the first quarter of […]