{"id":468722,"date":"2021-08-05T05:08:23","date_gmt":"2021-08-05T05:08:23","guid":{"rendered":"https:\/\/uniquehot.com\/?p=468722"},"modified":"2024-06-11T13:57:30","modified_gmt":"2024-06-11T13:57:30","slug":"ethereum-leg-higher-over-3k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-leg-higher-over-3k\/","title":{"rendered":"TA: Why Ethereum (ETH) Looks Ready For Another Leg Higher Over $3K"},"content":{"rendered":"
Ethereum started a strong rally above the $2,550 resistance against the US Dollar. ETH price is now consolidating gains and it could rise further towards $3,000.<\/em><\/p>\n Ethereum formed a support base above the $2,450 zone. As a result, there was a fresh increase and ETH price climbed above the $2,550 resistance zone to enter a bullish zone, outpacing bitcoin<\/a>.<\/p>\n There was also a break above a major bearish trend line with resistance near $2,600 on the hourly chart of ETH\/USD. The pair gained pace above the $2,600 level and it settled nicely above the 100 hourly simple moving average<\/a>.<\/p>\n A high was formed near $2,770 and the price is now correcting gains. It broke the $2,700 support level. Ether price even declined below the 23.6% Fib retracement level of the recent rally from the $2,461 swing low to $2,770 high.<\/p>\n <\/a><\/p>\n It is now consolidating above the $2,665 support zone. On the upside, an immediate resistance is near the $2,720 level. The next key resistance is near the $2,750 level. A clear break and close above the $2,750 and $2,770 resistance levels might start another increase. In the stated case, the price could rally above $2,800. The next stop for the bulls may possibly be near the $3,000 level.<\/p>\n If ethereum fails to continue higher above the $2,750 and $2,770 resistance levels, it could start an extended downside correction. An immediate support on the downside is near the $2,665 level.<\/p>\n The next major support is near the $2,620 level. It is near the 50% Fib retracement level of the recent rally from the $2,461 swing low to $2,770 high. Any more losses could lead the price towards the $2,550 support zone and the 100 hourly simple moving average.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly gaining pace in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now well above the 50 level.<\/p>\n Major Support Level \u2013 $2,620<\/p>\n Major Resistance Level \u2013 $2,750<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum started a strong rally above the $2,550 resistance against the US Dollar. ETH price is now consolidating gains and it could rise further towards $3,000. Ethereum gained pace after it broke the key $2,550 resistance zone. The price is now trading well above $2,600 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $2,600 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to continue higher as long as it is above the $2,550 support zone. Ethereum Price Starts Fresh Rally Ethereum formed a support base above the $2,450 zone. As a result, there was a fresh increase and ETH price climbed above the $2,550 resistance zone to enter a bullish zone, outpacing bitcoin. There was also a break above a major bearish trend line with resistance near $2,600 on the hourly chart of ETH\/USD. The pair gained pace above the $2,600 level and it settled nicely above the 100 hourly simple moving average. A high was formed near $2,770 and the price is now correcting gains. It broke the $2,700 support level. Ether price even declined below the 23.6% Fib retracement level of the recent rally from the $2,461 swing low to $2,770 high. Source: ETHUSD on TradingView.com It is now consolidating above the $2,665 support zone. On the upside, an immediate resistance is near the $2,720 level. The next key resistance is near the $2,750 level. A clear break and close above the $2,750 and $2,770 resistance levels might start another increase. In the stated case, the price could rally above $2,800. The next stop for the bulls may possibly be near the $3,000 level. Dips Limited in ETH? If ethereum fails to continue higher above the $2,750 and $2,770 resistance levels, it could start an extended downside correction. An immediate support on the downside is near the $2,665 level. The next major support is near the $2,620 level. It is near the 50% Fib retracement level of the recent rally from the $2,461 swing low to $2,770 high. Any more losses could lead the price towards the $2,550 support zone and the 100 hourly simple moving average. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly gaining pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now well above the 50 level. Major Support Level \u2013 $2,620 Major Resistance Level \u2013 $2,750<\/p>\n","protected":false},"author":67,"featured_media":460240,"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-468722","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 Starts Fresh Rally<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in ETH?<\/h2>\n