Ethereum Price Rises: Breakout?
Ethereum price rose steadily over $2,450. ETH is maintaining gains and may rise beyond $2,520.
Ethereum rose steadily past $2,420 and $2,450 barrier.
The price is above $2,440 and the 100-hour SMA.
On the hourly ETH/USD chart, a positive trend line with support at $2,455 is formed.
Bullish momentum is needed over $2,520 and $2,550 barrier.
Ethereum Price Rises
Ethereum began rising after forming a base over $2,350. ETH went positive after breaking $2,420 and $2,450 resistance levels, beating Bitcoin.
Bulls even broke $2,500. After hitting $2,518, the price is stabilizing. Price remains holding above the 23.6% Fib retracement line of the $2,436 swing low to $2,518 high upward advance.
Ethereum is over $2,450 and the 100-hour SMA. An hourly bullish trend line with support at $2,455 is also formed on ETH/USD.
The price may face resistance at $2,520 on the upside. Near $2,550 is the first substantial resistance. A clean break over $2,550 might push the price above $2,580. Above $2,580 barrier might lead to greater advances in the following sessions. Ether may see resistance at $2,620 in the short future. Near $2,650 or $2,720 is the next obstacle.
ETH Pullback Again?
Ethereum may fall again if it fails to break $2,520. The downside has first support at $2,480. First significant support is at $2,455 and the trend line or 76.4% Fib retracement level of the upward run from $2,436 swing low to $2,518 high.
A decisive break below $2,435 might bring the price below $2,420. If losses continue, the price may reach $2,350 support. Next important support is $2,250.
Tech Indicators
Hourly ETH/USD MACD is rising in the positive zone.
Hourly ETH/USD RSI is over 50.
Major Supportâ$2,455
Major Resistance: $2,520
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