{"id":469983,"date":"2021-08-24T05:08:11","date_gmt":"2021-08-24T05:08:11","guid":{"rendered":"https:\/\/uniquehot.com\/?p=469983"},"modified":"2024-06-11T13:57:58","modified_gmt":"2024-06-11T13:57:58","slug":"ethereum-forms-bullish-pattern-3350","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-forms-bullish-pattern-3350\/","title":{"rendered":"TA: Ethereum Forms Bullish Pattern, Why ETH Could Continue Higher"},"content":{"rendered":"
Ethereum tested the $3,380 zone before it corrected lower against the US Dollar. ETH price is still trading above $3,300 and it might attempt another upside break.<\/em><\/p>\n Ethereum settled above the $3,300 resistance and climbed further higher. ETH price even traded above $3,350, but it failed to clear $3,380. Recently, there was a downside correction below $3,350, similar to bitcoin<\/a>.<\/p>\n There was a break below the 23.6% Fib retracement level of the upward move from the $3,130 swing low to $3,380 high. It is now trading above $3,250 and the 100 hourly simple moving average.<\/p>\n There is a key bullish flag forming with resistance near $3,340 on the hourly chart of ETH\/USD. On the upside, an initial resistance is near the $3,340 and $3,350 levels. A clear break above the channel resistance and $3,350 might call for more gains<\/a>.<\/p>\n <\/a><\/p>\n The next key resistance is now forming near the $3,280 level. Any more gains may possibly call for a move towards the $3,500 level in the near term. An intermediate resistance may possibly be near the $3,420 level.<\/p>\n If ethereum fails to continue higher above the $3,340 and $3,350 resistance levels, it could start a fresh downside correction. An immediate support on the downside is near the $3,300 level. The key support is now forming near the $3,250 zone and the 100 hourly simple moving average.<\/p>\n It is close to the 50% Fib retracement level of the upward move from the $3,130 swing low to $3,380 high. A downside break below the $3,250 support zone could push the price further lower. The next major support could be $3,200, below which the price could revisit the $3,130 and $3,120 support levels.<\/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 $3,250<\/p>\n Major Resistance Level \u2013 $3,350<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum tested the $3,380 zone before it corrected lower against the US Dollar. ETH price is still trading above $3,300 and it might attempt another upside break. Ethereum started a fresh increase above the $3,300 and $3,320 resistance levels. The price is now trading above $3,250 and the 100 hourly simple moving average. There is a key bullish flag forming with resistance near $3,340 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue higher if there is a clear break above $3,340 and $3,350. Ethereum Price Consolidates Gains Ethereum settled above the $3,300 resistance and climbed further higher. ETH price even traded above $3,350, but it failed to clear $3,380. Recently, there was a downside correction below $3,350, similar to bitcoin. There was a break below the 23.6% Fib retracement level of the upward move from the $3,130 swing low to $3,380 high. It is now trading above $3,250 and the 100 hourly simple moving average. There is a key bullish flag forming with resistance near $3,340 on the hourly chart of ETH\/USD. On the upside, an initial resistance is near the $3,340 and $3,350 levels. A clear break above the channel resistance and $3,350 might call for more gains. Source: ETHUSD on TradingView.com The next key resistance is now forming near the $3,280 level. Any more gains may possibly call for a move towards the $3,500 level in the near term. An intermediate resistance may possibly be near the $3,420 level. More Losses in ETH? If ethereum fails to continue higher above the $3,340 and $3,350 resistance levels, it could start a fresh downside correction. An immediate support on the downside is near the $3,300 level. The key support is now forming near the $3,250 zone and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the $3,130 swing low to $3,380 high. A downside break below the $3,250 support zone could push the price further lower. The next major support could be $3,200, below which the price could revisit the $3,130 and $3,120 support levels. 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 $3,250 Major Resistance Level \u2013 $3,350<\/p>\n","protected":false},"author":67,"featured_media":461823,"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-469983","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 Consolidates Gains<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n