Ethereum Archives - Page 12 of 12

Ethereum Steadies Above $3,200, Here’s What Could Trigger Strong Surge

Armando Morrison4 years ago2 years ago04 mins

Ethereum is holding the key $3,120 support zone against the US Dollar. ETH price is consolidating and it seems like it could soon clear the $3,500 resistance zone. Ethereum is holding the ground above the $3,120 and $3,200 support levels. The price is still well below the $3,600 level and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $3,380 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely forming a double bottom pattern near the $3,125 zone. Ethereum Price Shows Positive Signs Ethereum extended its decline below $3,500, but it remained stable above the $3,120 zone. ETH made two attempts to clear the $3,120 and $3,100 support levels, but the bears failed. It seems like the price is forming a double bottom pattern near the $3,125 zone, similar to bitcoin. The recent low was near $3,127 before the price started a decent recovery. It broke the $3,300 resistance level. Ether climbed above the 23.6% Fib retracement level of the recent drop from the $3,885 swing high to $3,127 low. There was also a break above a key bearish trend line with resistance near $3,380 on the hourly chart of ETH/USD. However, the pair is still well below the $3,600 level and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com An immediate resistance is near the $3,450 level. The first major resistance is near the $3,500 level. It is close to the 50% Fib retracement level of the recent drop from the $3,885 swing high to $3,127 low. If the mentioned double bottom pattern is valid, the price is likely to surge above $3,500. The next stop for the bulls could be $3,600 or the 100 hourly simple moving average, where the bears might take a stand. More Losses in ETH? If Ethereum fails to continue higher above the $3,450 and $3,500 resistance levels, it could start another decline. An initial support on the downside is near the $3,350 level and the broken trend line. The first key support is near the $3,300 level. The main support is now forming near the $3,125 level. If there is a downside break below the $3,125 zone, the price could decline towards the $3,000 support. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly moving into the bullish zone. Hourly RSI – The RSI for ETH/USD is now close to the 50 level. Major Support Level – $3,300 Major Resistance Level – $3,500

Ethereum

TA: Ethereum Dives Below $4K, Here’s Why ETH Could Struggle In Short-Term

Armando Morrison4 years ago2 years ago04 mins

Ethereum started a major decline from well above $4,000 against the US Dollar. ETH price is now correcting losses from $3,500, but it could struggle near $4,050 and $4,100. Ethereum topped near the $4,375 before staring a downside correction. The price declined heavily below $4,000 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $4,000 on the hourly chart of ETH/USD (data feed via Kraken). The pair is correcting higher, but it is likely to face sellers near $4,050 and $4,100. Ethereum Price Corrects Sharply Ethereum extended its upward move above the $4,200 level. ETH even traded to a new all-time high near $4,375 and it recently started a major decline, similar to bitcoin. There was a sharp decline below the $4,000 level and the 100 hourly simple moving average. There was also a break below a major bullish trend line with support near $4,000 on the hourly chart of ETH/USD. The pair even broke the $3,700 support level. A low is formed near $3,525 and it is now correcting higher. It recovered above the $3,700 pivot level. There was a break above the 23.6% Fib retracement level of the recent sharp decline from the $4,384 swing high to $3,525 swing low. Source: ETHUSD on TradingView.com The price attempted a recovery above the $4,000 level. The 50% Fib retracement level of the recent sharp decline from the $4,384 swing high to $3,525 swing low is also facing hurdles. The bulls are facing hurdles near the $4,050 level and the 100 hourly simple moving average. A clear break above the $4,000 level could open the doors for a steady increase. The next major resistance is near the $4,100 level, above which the price is likely to accelerate higher towards the $4,400 level. Fresh Decline in ETH? If Ethereum fails to continue higher above the $4,050 and $4,100 resistance levels, it could start another downside correction. An initial support on the downside is near the $3,820 level. The first key support is near the $3,750 level. The main support is now forming near the $3,700 level. If there is a downside break below the $3,700 zone, the price could decline towards the $3,500 support. Technical Indicators Hourly MACD – The MACD for ETH/USD is struggling to move into the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $3,770 Major Resistance Level – $4,100