{"id":468882,"date":"2021-08-09T05:08:51","date_gmt":"2021-08-09T05:08:51","guid":{"rendered":"https:\/\/uniquehot.com\/?p=468882"},"modified":"2024-06-11T13:57:34","modified_gmt":"2024-06-11T13:57:34","slug":"ethereum-rally-isnt-over-yet-3k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-rally-isnt-over-yet-3k\/","title":{"rendered":"TA: Ethereum (ETH) Back Below $3K, Why Rally Isn\u2019t Over Yet"},"content":{"rendered":"
Ethereum started a strong rally above the $3,000 resistance against the US Dollar. ETH price is now correcting gains, but it is likely to find bids near $2,840.<\/em><\/p>\n Ethereum started a strong rally above the $2,700 and $2,850 resistance levels. ETH price even broke the $3,000 barrier<\/a> and it settled nicely above the 100 hourly simple moving average.<\/p>\n It traded to a new multi-week high at $3,190 before there was a downside correction. The price traded below the $3,000 support zone. There was a break below the 23.6% Fib retracement level of the recent surge from the $2,725 swing low to $3,190 high.<\/p>\n Besides, there was a break below a key bullish trend line with support near $2,980 on the hourly chart of ETH\/USD. Ether is now trading above $2,900 and the 100 hourly simple moving average<\/a>.<\/p>\n It is finding bids near the 50% Fib retracement level of the recent surge from the $2,725 swing low to $3,190 high. On the upside, an immediate resistance is near the $3,000 level. The next key resistance is near the $3,050 level.<\/p>\n <\/a><\/p>\n A clear break and close above the $3,000 and $3,050 resistance levels might start another increase. In the stated case, the price could rally above $3,200. The next stop for the bulls may possibly be near the $3,400 level.<\/p>\n If ethereum fails to continue higher above the $3,000 and $3,050 resistance levels, it could start an extended downside correction. An immediate support on the downside is near the $2,900 level.<\/p>\n The next major support is near the $2,840 level. It is near the 76.4% Fib retracement level of the recent surge from the $2,725 swing low to $3,190 high. Any more losses could lead the price towards the $2,740 support zone.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly losing pace in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n Major Support Level \u2013 $2,840<\/p>\n Major Resistance Level \u2013 $3,050<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum started a strong rally above the $3,000 resistance against the US Dollar. ETH price is now correcting gains, but it is likely to find bids near $2,840. Ethereum gained pace after it broke the key $2,840 resistance zone. The price is now trading above $2,900 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $2,980 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is correcting gains, but there is a strong support waiting near $2,800. Ethereum Price Corrects Gains Ethereum started a strong rally above the $2,700 and $2,850 resistance levels. ETH price even broke the $3,000 barrier and it settled nicely above the 100 hourly simple moving average. It traded to a new multi-week high at $3,190 before there was a downside correction. The price traded below the $3,000 support zone. There was a break below the 23.6% Fib retracement level of the recent surge from the $2,725 swing low to $3,190 high. Besides, there was a break below a key bullish trend line with support near $2,980 on the hourly chart of ETH\/USD. Ether is now trading above $2,900 and the 100 hourly simple moving average. It is finding bids near the 50% Fib retracement level of the recent surge from the $2,725 swing low to $3,190 high. On the upside, an immediate resistance is near the $3,000 level. The next key resistance is near the $3,050 level. Source: ETHUSD on TradingView.com A clear break and close above the $3,000 and $3,050 resistance levels might start another increase. In the stated case, the price could rally above $3,200. The next stop for the bulls may possibly be near the $3,400 level. Dips Limited in ETH? If ethereum fails to continue higher above the $3,000 and $3,050 resistance levels, it could start an extended downside correction. An immediate support on the downside is near the $2,900 level. The next major support is near the $2,840 level. It is near the 76.4% Fib retracement level of the recent surge from the $2,725 swing low to $3,190 high. Any more losses could lead the price towards the $2,740 support zone. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $2,840 Major Resistance Level \u2013 $3,050<\/p>\n","protected":false},"author":67,"featured_media":462958,"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-468882","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 Corrects Gains<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in ETH?<\/h2>\n