{"id":464232,"date":"2021-05-21T05:28:04","date_gmt":"2021-05-21T05:28:04","guid":{"rendered":"https:\/\/uniquehot.com\/?p=464232"},"modified":"2024-06-11T13:55:53","modified_gmt":"2024-06-11T13:55:53","slug":"ethereum-approaches-next-major-break-3k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-approaches-next-major-break-3k\/","title":{"rendered":"TA: Ethereum Approaches Next Major Break, $3K Is The Key"},"content":{"rendered":"
Ethereum recovered nicely above the $2,750 resistance zone against the US Dollar. However, ETH price must clear $3,000 for a steady increase in the coming sessions.<\/em><\/p>\n Ethereum started a decent recovery wave and it climbed above the $2,500 barrier. ETH even surpassed the $2,650 resistance zone to move into a short-term positive zone, similar to bitcoin<\/a>.<\/p>\n The price even cleared the $2,850 resistance. However, the bulls are facing a major resistance near the $3,000 level and the 100 hourly simple moving average<\/a>. The recent high was near $3,006 and the price is now consolidating gains.<\/p>\n It is still well below the $3,000 level and the 100 hourly simple moving average. There was a break below the 23.6% Fib retracement level of the upward move from the $2,158 swing low to $3,006 high.<\/p>\n <\/a><\/p>\n It seems like there is a crucial contracting triangle forming with resistance near $2,880 on the hourly chart of ETH\/USD. A successful break above the triangle resistance and $2,900 could spark a bullish wave. In the stated case, there are chances that ether price could even surpass the $3,000 level and the 100 hourly SMA.<\/p>\n The next major resistance is near the $3,300 level. Any more gains could lead the price towards the $3,500 level.<\/p>\n If Ethereum fails to continue higher above the $2,880 and $3,000 resistance levels, it could start another decline. An initial support on the downside is near the $2,800 level and the triangle trend line.<\/p>\n The first key support is near the $2,580 level. The 50% Fib retracement level of the upward move from the $2,158 swing low to $3,006 high is also near the $2,580 level. Any more losses could trigger a larger decline in the coming sessions.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly moving into the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now approaching the 50 level.<\/p>\n Major Support Level \u2013 $2,580<\/p>\n Major Resistance Level \u2013 $2,880<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum recovered nicely above the $2,750 resistance zone against the US Dollar. However, ETH price must clear $3,000 for a steady increase in the coming sessions. Ethereum is up over 15% and it cleared the $2,750 resistance zone. The price is still well below the $3,000 level and the 100 hourly simple moving average. There is a crucial contracting triangle forming with resistance near $2,880 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must clear $2,880 and $3,000 to move back into a positive zone in the near term. Ethereum Price is Facing a Key Hurdle Ethereum started a decent recovery wave and it climbed above the $2,500 barrier. ETH even surpassed the $2,650 resistance zone to move into a short-term positive zone, similar to bitcoin. The price even cleared the $2,850 resistance. However, the bulls are facing a major resistance near the $3,000 level and the 100 hourly simple moving average. The recent high was near $3,006 and the price is now consolidating gains. It is still well below the $3,000 level and the 100 hourly simple moving average. There was a break below the 23.6% Fib retracement level of the upward move from the $2,158 swing low to $3,006 high. Source: ETHUSD on TradingView.com It seems like there is a crucial contracting triangle forming with resistance near $2,880 on the hourly chart of ETH\/USD. A successful break above the triangle resistance and $2,900 could spark a bullish wave. In the stated case, there are chances that ether price could even surpass the $3,000 level and the 100 hourly SMA. The next major resistance is near the $3,300 level. Any more gains could lead the price towards the $3,500 level. Fresh Decline in ETH? If Ethereum fails to continue higher above the $2,880 and $3,000 resistance levels, it could start another decline. An initial support on the downside is near the $2,800 level and the triangle trend line. The first key support is near the $2,580 level. The 50% Fib retracement level of the upward move from the $2,158 swing low to $3,006 high is also near the $2,580 level. Any more losses could trigger a larger decline in the coming sessions. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly moving into the bearish zone. Hourly RSI – The RSI for ETH\/USD is now approaching the 50 level. Major Support Level \u2013 $2,580 Major Resistance Level \u2013 $2,880<\/p>\n","protected":false},"author":67,"featured_media":464234,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1946,8686,78803],"class_list":["post-464232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price is Facing a Key Hurdle<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in ETH?<\/h2>\n