Break Significant Resistance, What Are Price Targets and Critical Levels? Coinexc

Ethereum pushed its rise above the $ 2,750 resistance zone against the US Dollar. ETH price is showing positive signals and could rise to $ 3,000 or higher. According to the technical analysis of NewsBTC’s Aayush Jindal:

  • Ethereum pushed the recovery wave above the $ 2,650 and $ 2,750 levels.
  • The price is currently 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 from Kraken).
  • The pair is now showing signs of more gains above $ 2,900 and $ 2,950.

Ethereum (ETH) Price Continues To Rise

To be informed instantly about the last minute developments, Twitter and Telegram You can follow on our channel.

Ethereum continued to be supported above the $ 2,500 level and expanded its recovery wave. There was a break above the $ 2,600 and $ 2,650 resistance levels, which opened the doors for a steady rise.

There was a clear break above the 61.8% Fib retracement level of the downside from $ 2,742 to $ 2,375. Moreover, there was a break above a key bearish trend line with resistance near $ 2,600 on the hourly chart of ETH / USD.

Ethereum price is currently trading above the $ 2,700 support and the 100 hourly simple moving average. It took the recent volatility close to $ 2,742 and is currently trading above $ 2,800.

ethereum eth price analysis has broken the important resistance What are price targets and critical levels?

It is also testing the 1.236 Fib extension level of the downside move from $ 2,742 to $ 2,375. If there is more gain, the price could test the $ 2,950 resistance. The next major resistance is near the $ 3,000 level.

Will Etherum (ETH) Fall?

If Ethereum fails to break above the $ 2,900 and $ 2,9500 resistance levels, it could start a downside correction. Initial support on the downside is near the $ 2,750 zone.

The first major support is near the $ 2,650 level. Further losses could lead the price to the $ 2,550 support zone and the 100 hourly simple moving average.

Technical Indicators

  • Hourly MACD – The MACD for ETH / USD is now gaining momentum 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

Check Also

Nigeria Central Bank Official Announces CBDC • Coinexc

An official from the Central Bank of Nigeria (CBN) said that Nigeria is likely to …

Leave a Reply

Your email address will not be published. Required fields are marked *