Ethereum

Ethereum failed to surpass $2,600 and started a fresh decline against the US Dollar. ETH price is holding the $2,400 support, but it is likely to face sellers near $2,550. Ethereum made two attempts to gain strength above $2,625, but failed. The price is now trading well below $2,550 and the 100 hourly simple moving average. There was a break below a key rising channel with support near $2,520 on the hourly chart of ETH/USD (data feed via Kraken). The pair mut stay above $2,400 to avoid more downsides in the near term. Ethereum Price Trims Gains Ethereum climbed above the $2,550 and $2,580 resistance levels. However, ETH failed to gain strength above $2,620, resulting in a bearish reaction. There was a break below the $2,580 and $2,550 support levels. Besides, there a break below a key rising channel with support near $2,520 on the hourly chart of ETH/USD. The pair settled below the $2,550 support and the 100 hourly simple moving average. Ether even declined below the 50% Fib retracement level of the of the upward move from the $2,313 low to $2,626 high. It tested the $2,420 support zone. It seems like the 61.8% Fib retracement level of the of the upward move from the $2,313 low to $2,626 high is acting as a support. Ether is now recovering, but it is likely to face resistance near $2,520. The first major resistance is near the $2,550 level and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com The next key resistance is near the $2,620 level, above which the price might climb higher towards the $2,720 level in the near term. The main hurdle for a larger increase is now at $2,800. Downsides Break in ETH? If Ethereum fails to clear the $2,520 and $2,550 resistance levels, it could continue to move down. An initial support on the downside is near the $2,420 level. The first major support is near the $2,400 level and the recent low. A downside break below the $2,400 support zone could lead the price towards the $2,350 support. Any more losses could possibly call for a test of the $2,310 support in the coming sessions. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is currently rising towards the 50 level. Major Support Level – $2,400 Major Resistance Level – $2,550

Ethereum started a steady increase and cleared the $2,550 resistance against the US Dollar. ETH price is now struggling to climb higher above $2,650 and the 100 hourly SMA. Ethereum gained pace for a move above the $2,500 and $2,550 resistance levels. The price is struggling to settle above $2,600 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair must settle above $2,600 and the 100 hourly SMA to continue higher in the near term. Ethereum Price is Facing Hurdles Ethereum settled above the $2,450 level and extended its upward move. ETH broke the $2,500 and $2,550 resistance levels to move into a positive zone. There was a break above the 50% Fib retracement level of the of the key decline drop from the $2,850 swing high to $2,310 low. The price even spiked above the $2,600 level and the 100 hourly simple moving average. However, ether failed to remain stable above $2,600. It is now trading below the $2,600 level and the 100 hourly simple moving average. It seems like there is a bullish trend line forming with support near $2,500 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com On the upside, the price must settle above the $2,600 level and the 100 hourly SMA. The next key resistance is near the $2,650 level. It is close to the 61.8% Fib retracement level of the of the key decline drop from the $2,850 swing high to $2,310 low. A clear upside break above $2,600 and $2,650 could start a strong increase in the near term. The next major resistance could be $2,720, above which the price might revisit the $2,880 level. Dips Limited in ETH? If Ethereum fails to clear the $2,600 and $2,650 resistance levels, it could correct lower. An initial support on the downside is near the $2,550 level. The first major support is near the $2,500 level and the trend line. A downside break below the trend line could increase selling pressure and ether might drop towards $2,400. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is currently near the 50 level. Major Support Level – $2,500 Major Resistance Level – $2,650

Ethereum extended its decline and it traded close to $2,300 against the US Dollar. ETH price is now recovering and it could start a strong increase if it clears $2,550. Ethereum extended its decline below the $2,400 and $2,300 support levels. The price is now well below $2,600 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $2,480 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely forming an inverse head and shoulders pattern with resistance near $2,550. Ethereum Price Could Rise Steadily Ethereum failed to stay above the key $2,550 support level, and it extended its decline. ETH traded below the $2,440 and USD 2,400 support levels. It even broke $2,350 level and settled well below the 100 hourly simple moving average. A low is formed near $2,313 and the price is now correcting higher. It broke the $2,400 resistance level. Ether also climbed above the 23.6% Fib retracement level of the of the recent drop from the $2,850 swing high to $2,313 low. However, the price is now facing a strong resistance near $2,500. There is also a major bearish trend line forming with resistance near $2,480 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com It seems like ether is likely forming an inverse head and shoulders pattern with resistance near $2,550. The 50% Fib retracement level of the of the recent drop from the $2,850 swing high to $2,313 low is also near the $2,580 level. If there is a clear break above the trend line and a follow up move above $2,550, the price could start a strong increase in the near term. The next major resistance could be $2,640. More Losses in ETH? If Ethereum fails to clear the $2,500 and $2,550 resistance levels, it could extend its decline. An initial support on the downside is near the $2,400 level. The first major support is near the $2,350 level. A downside break below $2,350 and the recent low could accelerate losses. The next major support is near the $2,220 level or $2,200. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is currently approaching the 50 level. Major Support Level – $2,350 Major Resistance Level – $2,550

Ethereum started a fresh decline from the $2,850 resistance against the US Dollar. ETH price is down over 5% and it is struggling to stay above $2,420. Ethereum declined sharply after there was a clear break below the $2,650 support. The price is now well below $2,650 and the 100 hourly simple moving average. There was a break below a key rising channel with support near $2,760 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down unless there is a strong recovery above $2,550 and $2,650. Ethereum Price Breaks Key Support Ethereum attempted a major upside break above the $2,800 level. However, ETH failed to clear the $2,850 level and started a fresh decline. There was a break below a key rising channel with support near $2,760 on the hourly chart of ETH/USD. The pair declined sharply below the $2,650 support and it settled well below the 100 hourly simple moving average. Ether gained bearish momentum and it even broke the key $2,550 support zone. There was a spike below $2,450, but the price remained stable above the $2,420 support. A low is formed near $2,433 and the price is now consolidating losses. Source: ETHUSD on TradingView.com An initial resistance on the upside is near the $2,520 level. The 23.6% Fib retracement level of the of the recent decline from the $2,849 high to $2,433 low is also near $2,530. The first major resistance is near the $2,550 level. The main resistance is now forming near $2,650. It is close to the 50% Fib retracement level of the of the recent decline from the $2,849 high to $2,433 low. A clear upside break above the $2,650 level could set the pace for a steady increase. More Losses in ETH? If Ethereum fails to clear the $2,550 and $2,650 resistance levels, it could extend its decline. An initial support on the downside is near the $2,450 level. The first major support is near the $2,420 level. A downside break below $2,420 could open the doors for a larger decline. The next major support is near the $2,200 zone, where the bulls are likely to take a stand. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is currently below the 30 level. Major Support Level – $2,420 Major Resistance Level – $2,550

Ethereum started a fresh increase from the $2,550 support zone against the US Dollar. ETH price is rising, and it is likely to accelerate higher if it breaks $2,880. Ethereum is showing positive signs above the $2,750 resistance zone. The price is well above the $2,700 support and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $2,750 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a strong increase if there is no break below the 100 hourly SMA and $2,700. Ethereum Price Is Eyeing More Upsides After retesting the key $2,550 support zone, ethereum started a fresh increase above the $2,650 resistance zone. ETH gained pace above the $2,700 and $2,720 levels. The price gained pace above the 50% Fib retracement level of the of the downward move from the $2,814 swing high to $2,548 low. There was also a break above a major bearish trend line with resistance near $2,750 on the hourly chart of ETH/USD. The pair is now well above the $2,700 support and the 100 hourly simple moving average, unlike bitcoin. Ether is also above the 76.4% Fib retracement level of the of the downward move from the $2,814 swing high to $2,548 low. An immediate resistance is near the $2,814 high. Source: ETHUSD on TradingView.com The first major resistance is near the $2,850 level. The main hurdle is near the $2,880 level. A clear upside break above the $2,880 level could set the pace for a larger increase. In the stated case, the price could test the $3,000 level. Dips Supported in ETH? If Ethereum fails to clear the $2,800 and $2,850 resistance levels, it could start a downside correction. An initial support on the downside is near the $2,750 level. The main support is now forming near the $2,650 level and the 100 hourly SMA. A downside break below $2,650 and the 100 hourly SMA could open the doors for a larger decline. The next major support sits near the $2,550 zone, below which the price is likely to move into a bearish zone. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is currently above the 50 level. Major Support Level – $2,650 Major Resistance Level – $2,850

Ethereum extended its rise and traded close to $2,900 against the US Dollar. ETH price is correcting gains and it is likely to remain strong above the 100 hourly SMA Ethereum failed to clear the $2,900 level and it corrected lower from $2,885. The price is still holding the $2,700 support and the 100 hourly simple moving average. There was a break below a short-term bullish trend line with support near $2,750 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a strong increase as long as there is no break below the 100 hourly SMA and $2,650. Ethereum Price Is Holding Support Yesterday, ethereum started a fresh increase above the $2,650 resistance zone. ETH gained pace above the $2,700 and $2,750 levels. There was also a break above the $2,800 level and the 100 hourly simple moving average. However, the price failed to continue higher above $2,900. A high was formed near $2,886 and the price recently started a fresh decline. There was a break below the $2,800 support zone. Ether price even traded below the 23.6% Fib retracement level of the upward move from the $2,530 swing low to $2,996 high. There was a break below a short-term bullish trend line with support near $2,750 on the hourly chart of ETH/USD. The pair is now testing the 50% Fib retracement level of the upward move from the $2,530 swing low to $2,996 high. Source: ETHUSD on TradingView.com It is also holding the $2,700 support and the 100 hourly simple moving average. An initial resistance on the upside is near the $2,780 and $2,800 levels. The first major resistance is near the $2,850 level. The main breakout resistance is now forming near the $2,900 level. A close above the $2,900 level will most likely call for a test of the $3,000 barrier in the near term. Dips Supported in ETH? If Ethereum fails to clear the $2,800 and $2,850 resistance levels, it could extend its decline. An initial support on the downside is near the $2,700 level. The main support is now forming near the $2,680 level and the 100 hourly SMA. A downside break below $2,680 and $2,650 could open the doors for a larger decline. In the stated case, ether price might revisit USD 2,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is currently below the 50 level. Major Support Level – $2,650 Major Resistance Level – $2,850

Ethereum is stable above the $2,500 support zone and the 100 hourly SMA against the US Dollar. ETH price is likely to rally if there is a clear break above $2,700. Ethereum is trading in a positive zone above the $2,500 and $2,520 support levels. The price is now trading above $2,600 and the 100 hourly simple moving average. There was a break above a short-term contracting triangle with resistance near $2,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a steady increase if it breaks the $2,750 resistance zone in the near term. Ethereum Price Is Showing Positive Signs Yesterday, ethereum gained pace above the $2,500 resistance zone. ETH broke the $2,600 resistance zone and it settled nicely above the 100 hourly simple moving average. The price even traded close to the $2,750 level and a high was formed near $2,746. Recently, there was a downside correction below the $2,700 level. Ether declined below the 23.6% Fib retracement level of the upward move from the $2,275 swing low to $2,746 high. The price tested the $2,500 support zone and the 100 hourly simple moving average. It also tested the 50% Fib retracement level of the upward move from the $2,275 swing low to $2,746 high. Source: ETHUSD on TradingView.com It is now rising and it reclaimed the $2,600 level. There was a break above a short-term contracting triangle with resistance near $2,600 on the hourly chart of ETH/USD. The pair is now facing resistance near the $2,650 level. The first major resistance is near the $2,700 level. The main breakout resistance is now forming near the $2,750 level. A close above the $2,750 level could start a major increase towards the $2,850 level or even $3,000 in the near term. Dips Supported in ETH? If Ethereum fails to clear the $2,700 and $2,750 resistance levels, it could start a downside correction. An initial support on the downside is near the $2,550 level. The main support is now forming near the $2,500 level and the 100 hourly SMA. A downside break below $2,500 may possibly put a lot of pressure on the bulls. The next key support is near the $2,450 level and a connecting bullish trend line. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is currently above the 50 level. Major Support Level – $2,500 Major Resistance Level – $2,750

Ethereum gained pace above the $2,550 resistance zone against the US Dollar. ETH price is trading in a positive zone and it could rally if it breaks the $2,750 resistance. Ethereum is slowly moving higher and it broke the key $2,500 resistance zone. The price is now trading well above $2,500 and the 100 hourly simple moving average. There is a key rising channel forming with support near $2,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate higher if it breaks the main $2,750 resistance zone in the near term. Ethereum Price Is Gaining Momentum Ethereum started a decent upward move from the $2,400 support zone. ETH climbed above the $2,480 and $2,500 resistance levels. There was also a clear break above the $2,650 resistance zone. A high was formed near $2,746 before the price started a downside correction. There was a break below the $2,700 and $2,650 levels. Ether declined below the 23.6% Fib retracement level of the upward move from the $2,277 swing low to $2,746 high. It is now trading well above $2,500 and the 100 hourly simple moving average. There is also a key rising channel forming with support near $2,640 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com On the upside, an immediate resistance is near the $2,700 level. The first major resistance is near the $2,750 level and the recent higher. A close above the $2,750 level could start a major increase towards the $2,850 level. The next major resistance is near the $3,000 zone. Dips Limited in ETH? If Ethereum fails to clear the $2,700 and $2,750 resistance levels, it could start a downside correction. An initial support on the downside is near the $2,600 zone and the channel trend line. A downside break below the channel support could push the price towards the $2,500 support and the 100 hourly SMA. The 50% Fib retracement level of the upward move from the $2,277 swing low to $2,746 high is also near the $2,510 level. The next key support is near the $2,450 level. Any more losses could lead the price towards the $2,400 support in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is currently above the 50 level. Major Support Level – $2,500 Major Resistance Level – $2,750

In a flash, Ethereum is back to trading under $3,000 after just weeks ago reaching a high well over $4,000. The wider crypto market correction got the best of ETH and the rest of altcoins especially, and even managed to take down Bitcoin. However, if past market cycles are any indication of future results, the crash could be the first touch of an ascending trendline that sends the top-ranked altcoin to around $10,000 per ETH. How DeFi and NFTs Make For A Very Different Bull Run Than ICOs During the 2017 bull market, both Bitcoin and Ethereum soared as money flowed into the market. Much of that capital trickled its way down to ICOs, which only further fueled the FOMO for ETH. Eventually, they also led to the collapse of the second-ranked cryptocurrency and the start of the Ethereum bear market. Today things are very different. The most important altcoin in the space carries the rest of the market on its back. Sure that leads to high fees and slower transactions, but that’s because DeFi is such a big deal and so are NFTs. Related Reading | The Bearish Signal Ethereum Bulls Need To Fear These two transcendent technologies are also thanks to Ethereum, and while other chains could take the lead, first-mover advantage is hard to beat. Even though the altcoin collapsed in price recently, the pullback was technical and fundamentals remain plenty bullish. This could result in the latest selloff being the bottom, and after some gyrating in an ascending pattern, a breakout to $10,000 could be next for ETH. The ascending triangle would target $10K ETH | Source: ETHUSD on TradingView.com Analyst: Repeating Triangle Fractal Could Send Ethereum To $10K The pattern in reference is an ascending triangle pattern, pictured above. The pattern also matches the final consolidation phase of the last bull market, before Ethereum ran to all-time highs and the bear market started. Related Reading | Here’s Where The Ethereum Rally Could Pause, According To Bitcoin Blueprint Ether has a lot more going for it this time around, but after a run from $4,000 to $10,000, the market might need a reset – much like the market needed to reset after the rise from $500 to $4,000 over the last year. The path Ether could take if the fractal confirms | Source: ETHUSD on TradingView.com According to one trader who also sees the pattern playing out, the target of the structure will be $10,000 per ETH. Adding in an ascending pitchfork channel and some bars from the last breakout projected forward, and the price action would fit. The path Ethereum takes would only be visible in hindsight, but if accurate, the crypto market has one more leg up before the bull market is over. Featured image from iStockPhoto, Charts from TradingView.com

Ethereum failed to continue above $2,900 against the US Dollar. ETH price corrected gains and it is now trading near a major support at $2,640 and the 100 hourly SMA. Ethereum broke the $2,850 resistance, but it failed to gain pace above $2,900. The price is now testing the $2,650 support and the 100 hourly simple moving average. There was a break below a key bullish trend line with support at $2,750 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the 100 hourly SMA to avoid a drop towards the $2,380 support. Ethereum Price Reaches Key Support Ethereum extended its recovery wave above the $2,800 and $2,850 resistance levels. ETH even pushed above the $2,900 level and settled nicely above the 100 hourly simple moving average. However, it failed to gain pace above $2,900. The bulls made two attempts to push the price above the $2,920 level, but they failed. The recent high was formed near $2,912 before the price started a downside correction. Ether corrected lower below the $2,850 and $2,800 support levels. There was a break below a key bullish trend line with support at $2,750 on the hourly chart of ETH/USD. The pair even declined below the 23.6% Fib retracement level of the upward move from the $2,370 swing low to $2,912 high. Ether price is now testing the $2,650 support and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the $2,370 swing low to $2,912 high. Source: ETHUSD on TradingView.com On the upside, an immediate resistance is near the broken trend line at $2,800. The next major resistance is near the $2,900 level, above which the price could attempt a move towards the $3,000 resistance zone. More Losses in ETH? If Ethereum fails to continue higher above the $2,800 and $2,900 resistance levels, it could extend its decline. An initial support on the downside is near the $2,650 zone and the 100 hourly SMA. A downside break below the 100 hourly SMA might spark a larger decline. The next key support is near the $2,380 level. Any more losses could lead the price towards the $2,185 support zone. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is currently below the 50 level. Major Support Level – $2,650 Major Resistance Level – $2,800

Ethereum extended its upward move above the $2,750 resistance zone against the US Dollar. ETH price is showing positive signs and it could rise towards $3,000 or even higher. Ethereum extended its recovery wave above the $2,650 and $2,750 levels. The price is now trading above the $2,700 support and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $2,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now showing signs of more gains above $2,900 and $2,950. Ethereum Price Remains Well Bid Ethereum remained supported above the $2,500 level and it extended its recovery wave. There was a break above the $2,600 and $2,650 resistance levels, opening the doors for a steady increase. There was a clear break above the 61.8% Fib retracement level of the downward move from the $2,742 high to $2,375 low. Moreover, there was a break above a key bearish trend line with resistance near $2,600 on the hourly chart of ETH/USD. Ether price is now trading above the $2,700 support and the 100 hourly simple moving average. It cleared the last swing high near $2,742 and it is now trading above $2,800. Source: ETHUSD on TradingView.com Besides, it is testing the 1.236 Fib extension level of the downward move from the $2,742 high to $2,375 low. If there are more gains, the price could test the $2,950 resistance. The next major resistance is near the $3,000 level, above which the price could rally towards the $3,000 level. Dips Limited in ETH? If Ethereum fails to continue higher above the $2,900 and $2,9500 resistance levels, it could start a downside correction. An initial support on the downside is near the $2,750 zone. The first key support is near the $2,650 level. 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 now gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is currently well above the 50 level. Major Support Level – $2,750 Major Resistance Level – $2,950