This article is also available in Spanish. Ethereum price continues to rise above the $2,650 resistance level; ETH is currently correcting its rise and may find bids near the $2,600 support level.
The price is currently correcting its rise from the $2,700 resistance level.
The price is trading above the 100-hour simple moving average at $2,600. The bulls pushed the price above the resistance level of $BTC the $2,700 zone was tested. The maximum was formed at $2,701 and now the price is correcting higher. There was a decline below the level of $2,650. The price fell below the fib 23.6% retracement of the upward correction from the low of $2,528 to the high of $BTC The #Ethereum price is now trading above the 100-hour simple moving average at $2,600. A significant bullish trend line has also formed on the hourly chart of ETH/USD with support at the $2,600 level. This trendline is near the Fib 50% retracement level of the upward pullback from the low of $2,528 to the high of $BTC On the upside, it seems to have met an obstacle near $2,650. The first major resistance is near $2,680. The next key resistance is near the $2,700 level.
A break above the resistance at $2,700 could lead to a price rally. In this case, Ether may rise to the resistance level of $2,780 in the short term. The next hurdle is around $2,840 or $2,880.
If Ethereum fails to overcome the resistance level of $2,650, it may continue to fall. The first support on the downtrend is around $2,615. The first major support is around $2,600 and the trend line.
If the price goes below the support level of $2,600, it may head towards $2,550. In case of further losses, the price may head towards the USD 2,525 support level in the short term. The next key support is at USD 2,450.
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