TA: Ethereum prints bull cartridge, vaar dicht boven, $ 2300

Ethereum was still held near the US $ 2150 zone against the US dollar. The price of ETH is rising, but a close above $ 2300 is important for continued growth.

Ethereum found support around $ 2150 and launched a new growth.
The price was above the $ 2200 zone and 100-hour simple moving average.
On the hourly chart of Eth / USD, there was a break above a large contraction triangle with resistance close to $ 2260 (data feed through the kraken).
The pair will strengthen further if there is a close above the $2300 and $ 2320 levels.

Ethereum Price Continues Bullish Move
Ethereum continued to offer support levels over USD 2150 and USD 2120, similar to bitcoin. The ETH price established a base of over $ 2150 and initiated new growth.

It was a break above the resistance of $ 2,200 for a 100-hour simple moving average. Ether exceeded 50 % Fibonacci correction level with downward correction the highest fluctuation of 2431 dollars to the lowest of 2151 dollars. On the hourly chart of Eth/USD, there was a break above a large tapering triangle with resistance close to $ 2260.

The pair are currently trading near resistance of $ 2,300. Initial serious resistance is near the $ 2320 level. The downward correction is close to the 61.8% Fibonacci correction level, from a high of $ 2431 to a low of $ 2151.

Source: ETHUSD-on TradingView.com
A close above the $ 2320 level could set the pace for further profits. The next big hurdle for the Bulls could be a level around $ 2400, followed by $ 2,420. Even more benefits may require a resistance zone test of $ 2,500 in the near term.

Is dips limited in ETH?
If Ethereum can’t stand above $ 2300 and $ 2320, it could start a new decline. The initial support at the bottom is near the $ 2250 level.

The first big boost is to the $ 2220 level and near the 100-hour simple moving average. The main support has now been set up near the $ 2200 level. Additional losses could bring the price back into the October support area of $ 2150. If the Bulls can’t keep the $ 2150 support, then

Join the Discussion

  • BrokerEUR/USD
    Core Spreads 0.6pips (variable) margin: 3.33%
  • Back to top