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CRYPTO PRICE TRENDS
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ETHEREUM PRICE HOLDS SUPPORT – WHY ETH COULD SOON RALLY 5% Ethereum price remained in a positive zone above the $3,000 level, like Bitcoin. ETH extended its increase above the $3,150 and $3,165 resistance levels. It even spiked above the $3,250 resistance. It traded to a new weekly high at $3,263 and recently corrected lower. There was a minor decline below the $3,220 level. Ether dipped below the 50% Fib retracement level of the recent wave from the $3,154 swing low to the $3,263 high. However, the bulls were active above the $3,200 level. The 61.8% Fib retracement level of the recent wave from the $3,154 swing low to the $3,263 high acted as a support. Ethereum is now trading above $3,200 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $3,170 on the hourly chart of ETH/USD. Immediate resistance is near the $3,250 level. The first major resistance is near the $3,280 level. The next key resistance sits at $3,350, above which the price might gain traction and rise toward the $3,500 level. A close above the $3,500 resistance could send the price toward the $3,550 resistance. If there is a move above the $3,550 resistance, Ethereum could even test the $3,750 resistance. Any more gains could send Ether toward the $3,880 resistance zone in the coming days. ANOTHER DROP IN ETH? If Ethereum fails to clear the $3,280 resistance, it could start a downside correction. Initial support on the downside is near the $3,200 level. The first major support is near the $3,180 zone and the trend line. The main support is near the $3,120 level. A clear move below the $3,120 support might increase selling pressure and send the price toward $3,030. Any more losses might send the price toward the $2,850 level in the near term. TECHNICAL INDICATORS Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $3,120 Major Resistance Level – $3,280#ETH #BullorBear #BinanceLaunchpool #Write2Earn

ETHEREUM PRICE HOLDS SUPPORT – WHY ETH COULD SOON RALLY 5%

Ethereum price remained in a positive zone above the $3,000 level, like Bitcoin. ETH extended its increase above the $3,150 and $3,165 resistance levels. It even spiked above the $3,250 resistance.

It traded to a new weekly high at $3,263 and recently corrected lower. There was a minor decline below the $3,220 level. Ether dipped below the 50% Fib retracement level of the recent wave from the $3,154 swing low to the $3,263 high.

However, the bulls were active above the $3,200 level. The 61.8% Fib retracement level of the recent wave from the $3,154 swing low to the $3,263 high acted as a support.

Ethereum is now trading above $3,200 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $3,170 on the hourly chart of ETH/USD. Immediate resistance is near the $3,250 level. The first major resistance is near the $3,280 level.

The next key resistance sits at $3,350, above which the price might gain traction and rise toward the $3,500 level. A close above the $3,500 resistance could send the price toward the $3,550 resistance. If there is a move above the $3,550 resistance, Ethereum could even test the $3,750 resistance. Any more gains could send Ether toward the $3,880 resistance zone in the coming days.

ANOTHER DROP IN ETH?

If Ethereum fails to clear the $3,280 resistance, it could start a downside correction. Initial support on the downside is near the $3,200 level. The first major support is near the $3,180 zone and the trend line.

The main support is near the $3,120 level. A clear move below the $3,120 support might increase selling pressure and send the price toward $3,030. Any more losses might send the price toward the $2,850 level in the near term.

TECHNICAL INDICATORS

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

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

Major Support Level – $3,120

Major Resistance Level – $3,280#ETH #BullorBear #BinanceLaunchpool #Write2Earn

Disclaimer: Includes third-party opinions. No financial advice. See T&Cs.
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