Ethereum is holding gains above the $3,200 resistance zone against the US Dollar. ETH price remains attractive and it might continue to rise towards the $3,350 resistance.
Ethereum is trading nicely above the $3,100 and $3,150 support levels.
The price is now trading above $3,200 and the 100 hourly simple moving average.
There is a key bullish trend line forming with support near $3,110 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is consolidating and it is likely to extend gains above the $3,250 level.
Ethereum climbed higher steadily above the $3,150 resistance zone. ETH price even broke the $3,200 resistance zone and it settled nicely above the 100 hourly simple moving average.
A new multi-week high is formed near $3,278 and the price is now correcting gains. It declined below the $3,240 support level. There was a break below the 23.6% Fib retracement level of the recent wave from the $3,052 swing low to $3,278 high.
However, ether price remained well bid above the $3,150 support. It also found support near the 50% Fib retracement level of the recent wave from the $3,052 swing low to $3,278 high.
There is also a key bullish trend line forming with support near $3,110 on the hourly chart of ETH/USD. On the upside, an immediate resistance is near the $3,250 level. The next key resistance is near the $3,275 level.
A clear break and close above the $3,250 and $3,275 resistance levels might spark an upside continuation. The next key resistance might be near the $3,350 level, above which the price might rise towards the $3,500 resistance zone.
If ethereum fails to continue higher above the $3,250 and $3,275 resistance levels, it could start a downside correction. An immediate support on the downside is near the $3,180 level.
The first key support is near the $3,165 level. The main support is now forming near $3,110, the trend line, and the 100 hourly SMA. A downside break below the trend line support might push the price towards the $3,060 support. Any more losses could lead the price towards the $3,000 support zone.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is about to move into the bullish zone.
Hourly RSI – The RSI for ETH/USD is still above the 50 level.
Major Support Level – $3,100
Major Resistance Level – $3,275
source: newsbtc
Coin | Change(%) | Price | Volume (24h) |
---|---|---|---|
Bitcoin (BTC) | 3.71 | $72,084.86 | $45.5B |
Ethereum (ETH) | 3.43 | $4,038.91 | $20.8B |
XRP (XRP) | 18.52 | $0.727106 | $4.4B |
Solana (SOL) | 1.58 | $147.242060 | $3.8B |
Binance Coin (BNB) | -2.22 | $519.52 | $3.0B |
USD Coin (USDC) | 0.03 | $0.999697 | $2.4B |
Dogecoin (DOGE) | 0.96 | $0.174374 | $2.1B |
Shiba Inu (SHIB) | -2.92 | $0.000033 | $1.7B |
Floki Inu (FLOKI) | -7.67 | $0.000267 | $1.3B |
Avalanche (AVAX) | 13.16 | $47.596296 | $1.2B |