TA: Ethereum Describes New ATH, Here's Why Bulls Can Target $ 2500

Ethereum is gaining momentum above $ 2,300 against the US Dollar. The price of ETH is showing positive signs and is expected to remain higher towards the $ 2,400 and $ 2,500 levels. Ethereum is moving above the $ 2,200 and $ 2,250 resistance levels. The price is currently trading well above $ 2,250 and the hourly moving average is 100. ETH / USD (data stream via Kraken). The pair is expected to continue moving towards the $ 2,400 and $ 2,420 levels in the near term. Ethereum price gains momentum Ethereum launched a wave after breaking the $ 2,200 resistance zone. ETH removed many hurdles around $ 2,220 and $ 2,250 to move into positive territory. There was a clear break above the $ 2,300 resistance levels. Additionally, there was a break above a major contraction triangle with resistance at $ 2300 on the hourly chart of ETH / USD. It is currently trading well above the Fib expansion level in a downward move from $ 2,200 to $ 2,102. Ether is currently trading well above $ 2,250 and the 100 hourly simple moving average. It shows many positive signs above the $ 2,300 level and is trading to a new high in connection with Bitcoin. Source: ETHUSD Bulls seem to be testing the $ 2400 USD level on TradingView.com. Medium resistance could be $ 2,355. It is near the 2.618 Fib expansion level of the downside move from $ 2,200 to $ 2,102. Even more gains could open the door to move towards the $ 2,500 level in the near term. Are the drops in ETH limited? If Ethereum does not clear the resistance at $ 2350, it could rectify negatively. The first major support is now forming near the $ 2300 level or the broken triangle area. The main support is now near the $ 2,250 level. If Ether fails to stay above the $ 2,200 support zone, it could continue to decline towards the $ 2,200 support zone. Even more losses could require testing the $ 2,180 supercar Read more

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