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Home»Analysis»Ethereum -Price sets its sentences at higher levels: can Bull’s Momentum retain?
Analysis

Ethereum -Price sets its sentences at higher levels: can Bull’s Momentum retain?

2025-02-07No Comments3 Mins Read
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Este Artículo También Está Disponible and Español.

Ethereum price started a recovery wave above $ 2,650 zone. ETH shows positive signs and can strive for a movement above the $ 2,880 resistance.

  • Ethereum started a considerable upward movement above $ 2,650 zone.
  • The price acts under $ 2,850 and the 100-hour simple advancing average.
  • There was a break above a short-term-falling channel with resistance at $ 2,780 on the ETH/USD card per hour (data feed via cracking).
  • The couple can start a new decline if it remains below the $ 2,880 level.

Ethereum price repair gets pace

Ethereum -Price started a recovery wave after it had fallen heavily below $ 2,500, which Bitcoin under performance. ETH tested the $ 2,120 zone and recently started a considerable upward move.

The price was able to exceed the resistance levels of $ 2,550 and $ 2,650. It even climbed above 50% FIB retracement level of the downward wave of the $ 3,400 swing high to $ 2,120 swing low. There was also a break above a short-term declining channel with resistance at $ 2,780 on the ETH/USD card per hour.

Ethereum price now trades under $ 2,850 and the 100-hour simple advancing average. At the top the price seems to have to do with obstacles near the level of $ 2,840 and the 100-hour simple advancing average.

The first major resistance is near the level of $ 2,880. The main resistance is now almost $ 2,920 or the 61.8% FIB retracement level of the downward wave of the $ 3,400 swing high to $ 2,120 swing low. A clear movement above the $ 2,920 resistance can send the price to $ 3,000 resistance.

Ethereum -Price
Source: Ethusd on TradingView.com

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 $ 3,120 resistance zone or even $ 3,250 in the short term.

See also  Trump hurdles toward crypto whale status with Ethereum wallet worth millions

Another decline of ETH?

If Ethereum did not know the resistance of $ 2,840, this can start a new decline. The first support at the disadvantage is near the level of $ 2,700. The first major support is near the $ 2,640 zone.

A clear movement under the support of $ 2,640 can push the price to the support of $ 2,550. 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 is gaining force in the bullish zone.

Hour RSI – The RSI for ETH/USD is now above 50 zone.

Major support level – $ 2,640

Large resistance level – $ 2,880

Source link

Bulls Ethereum Higher Levels Momentum Price retain sentences sets
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