{"id":469020,"date":"2021-08-11T05:38:44","date_gmt":"2021-08-11T05:38:44","guid":{"rendered":"https:\/\/uniquehot.com\/?p=469020"},"modified":"2024-06-11T13:57:37","modified_gmt":"2024-06-11T13:57:37","slug":"ethereum-could-accelerate-above-3200","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-could-accelerate-above-3200\/","title":{"rendered":"Why Ethereum (ETH) Could Accelerate Above $3,200, Dips Remain Attractive"},"content":{"rendered":"
Ethereum is holding gains above the $3,000 pivot zone against the US Dollar. ETH price is likely to accelerate higher if there is a clear break above the $3,200 resistance zone.<\/em><\/p>\n Ethereum corrected lower, but the bulls were active above the $3,000 support zone. It climbed higher above the $3,150 level and it even spiked above the $3,200 barrier.<\/p>\n The price traded as high as $3,233, but there was no close above $3,200. The price is now consolidating gains below the $3,200 level, similar to bitcoin<\/a>. There was a break below the 23.6% Fib retracement level of the recent upward move from the $2,890 swing low to $3,233 high.<\/p>\n However, ETH is still trading well above the $3,100 level and the 100 hourly simple moving average<\/a>. There is also a major bullish trend line forming with support near $3,060 on the hourly chart of ETH\/USD.<\/p>\n The trend line coincides with the 50% Fib retracement level of the recent upward move from the $2,890 swing low to $3,233 high. On the upside, an immediate resistance is near the $3,200 level. The next key resistance is near the $3,230 level.<\/p>\n <\/a><\/p>\n A clear break and close above the $3,200 and $3,230 resistance levels might start another increase. In the stated case, the price could test $3,350. The next key resistance might be near the $3,500 level.<\/p>\n If ethereum fails to continue higher above the $3,200 and $3,230 resistance levels, it could start a downside correction. An immediate support on the downside is near the $3,120 level.<\/p>\n The next major support is near the $3,100 level. The main support is now forming near $3,060 and the 100 hourly SMA. Any more losses could lead the price towards the $3,000 support zone.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly losing pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is still above the 50 level.<\/p>\n Major Support Level \u2013 $3,060<\/p>\n Major Resistance Level \u2013 $3,200<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum is holding gains above the $3,000 pivot zone against the US Dollar. ETH price is likely to accelerate higher if there is a clear break above the $3,200 resistance zone. Ethereum is trading nicely above the $3,000 and $3,050 support levels. The price is now trading above $3,100 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $3,060 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to resume its rally once it clears the $3,200 resistance zone. Ethereum Price Eyes Upside Break Ethereum corrected lower, but the bulls were active above the $3,000 support zone. It climbed higher above the $3,150 level and it even spiked above the $3,200 barrier. The price traded as high as $3,233, but there was no close above $3,200. The price is now consolidating gains below the $3,200 level, similar to bitcoin. There was a break below the 23.6% Fib retracement level of the recent upward move from the $2,890 swing low to $3,233 high. However, ETH is still trading well above the $3,100 level and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $3,060 on the hourly chart of ETH\/USD. The trend line coincides with the 50% Fib retracement level of the recent upward move from the $2,890 swing low to $3,233 high. On the upside, an immediate resistance is near the $3,200 level. The next key resistance is near the $3,230 level. Source: ETHUSD on TradingView.com A clear break and close above the $3,200 and $3,230 resistance levels might start another increase. In the stated case, the price could test $3,350. The next key resistance might be near the $3,500 level. Dips Supported in ETH? If ethereum fails to continue higher above the $3,200 and $3,230 resistance levels, it could start a downside correction. An immediate support on the downside is near the $3,120 level. The next major support is near the $3,100 level. The main support is now forming near $3,060 and the 100 hourly SMA. Any more losses could lead the price towards the $3,000 support zone. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is still above the 50 level. Major Support Level \u2013 $3,060 Major Resistance Level \u2013 $3,200<\/p>\n","protected":false},"author":67,"featured_media":462852,"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-469020","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 Eyes Upside Break<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in ETH?<\/h2>\n