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Ethereum -Price cannot delete the $ 3,000 resistance zone. ETH consolidates almost $ 2,750 and can strive for a new increase.
- Ethereum still shows positive signs above $ 2,680 zone.
- The price acts above $ 2,750 and the 100-hour simple advancing average.
- There is a bullish trend line in the short term that forms with support at $ 2,780 on the hourly table ETH/USD (data feed via Kraken).
- The couple could start a considerable upward movement if it settles above $ 2,850 and $ 2,880.
Ethereum price eyes fresh increase
Ethereum -Price remained supported above the level of $ 2,650 and recently started a considerable upward move that exceeds Bitcoin. ETH got pace above the resistance levels of $ 2,750 and $ 2,850.
The price even stood to $ 3,000 before the bears appeared. There was no upward continuation and the price corrected profits. There was a movement under the support of $ 2,850. The price traded under the 50% FIB retracement level of the upward movement of the $ 2,616 swing low to the $ 3,021 high.
Ethereum price is now traded above $ 2,750 and the 100-hour simple advancing average. There is also a bullish trend line in the short term that forms with support at $ 2,780 on the ETH/USD graph per hour. It is close to the 61.8% FIB racement level of the upward movement of the $ 2,616 Swing low to the $ 3,021 high.
At the top the price seems to have to do with obstacles near the level of $ 2,820. The first major resistance is near the level of $ 2,850. The most important resistance is now almost $ 2,880 or $ 2,920.
A clear movement above the $ 2,920 resistance can send the price to $ 3,000 resistance. An upward break above the $ 3,000 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 3,050 resistance zone or even $ 3,120 in the short term.
Another drop in ETH?
If Ethereum did not know the resistance of $ 2,850, this can start a new decline. The first support on the disadvantage is near the level of $ 2,780. The first major support is near the $ 2,720 zone.
A clear movement under the support of $ 2,720 can push the price to $ 2,650 support. All losses can send the price in the short term to the support level of $ 2,550. The following key support is at $ 2,500.
Technical indicators
Hour MacD – The MACD for ETH/USD loses momentum in the bullish zone.
Hour RSI – The RSI for ETH/USD is now below 50 zone.
Major support level – $ 2,720
Main resistance level – $ 2,850