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Ethereum -Price started a new increase above $ 1,600 zone. ETH has now risen almost 15% and can try a movement above $ 1,680 zone.
- Ethereum started a considerable increase above the levels of $ 1,550 and $ 1,600.
- The price acts above $ 1,550 and the 100-hour simple advancing average.
- There was a break over an important bearish trend line with resistance at $ 1,470 on the hourly table ETH/USD (data feed via Kraken).
- The pair tested the $ 1,680 resistance zone and can correct some profit.
Ethereum -Price jumps more than 12%
Ethereum -Price formed a base above $ 1,380 and started a new increase, such as Bitcoin. ETH was given pace for a movement above the resistance levels of $ 1,450 and $ 1500.
The bulls even pumped the price above $ 1,550 zone. There was a break over an important bearish trend line with resistance at $ 1,470 on the ETH/USD per hour. The couple even knew the $ 1,620 resistance zone. A high was formed at $ 1,687 and the price is now consolidating profit above the 23.6% FIB retracement level of the upward movement of the $ 1,384 Swing low to $ 1,687 high.
Ethereum price is now traded above $ 1,550 and the 100-hour simple advancing average. At the top the price seems to be confronted with obstacles near the level of $ 1,650.
The next key resistance is near the level of $ 1,680. The first major resistance is near the level of $ 1,720. A clear movement above the $ 1,720 resistance can send the price to $ 1,750 resistance. An upward break above the $ 1,750 resistance can request more profit in the upcoming sessions. In the declared case, Ether could rise to the $ 1,850 resistance zone or even $ 1,880 in the short term.
Are dips limited in ETH?
If Ethereum did not know the resistance of $ 1,650, this can start a downward correction. The first support on the disadvantage is near the level of $ 1,615. The first major support is near the $ 1,580 zone.
A clear movement under the support of $ 1,580 can be the price to support $ 1,535 and the 50% FIB retracement level of the upward movement of the $ 1,384 waves low to $ 1,687 high. More losses can send the price in the short term to the support level of $ 1,480. The following key support is at $ 1,420.
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.
Large support level – $ 1,535
Main resistance level – $ 1,650
