Ethereum prolonged its rally, buying and selling at a brand new all-time excessive close to $ 3,550 towards the US greenback. ETH value corrects positive aspects however ought to keep nicely bid close to $ 3,400.
- Ethereum prolonged its rally above $ 3,500 and traded at a brand new all-time excessive close to $ 3,550.
- The worth is now buying and selling nicely above $ 3,400 and the 100-hour easy shifting common.
- An vital bullish trendline is forming on the hourly chart of ETH / USD (knowledge feed through Kraken) with help close to USD 3,390.
- The pair is correcting decrease however the bulls ought to stay lively close to $ 3,400.
The worth for the Ethereum is gaining traction
Ethereum fashioned a brand new help base above USD 3,250 and began a brand new surge. ETH outperformed Bitcoin and broke the USD 3,400 resistance to start out a brand new rally.
It even surged above the $ 3,500 degree and hit a brand new all-time excessive close to $ 3,550. It’s now buying and selling nicely above $ 3,400 and the 100-hour easy shifting common. Not too long ago there was a downward correction from the excessive of $ 3,551 and the worth buying and selling under $ 3,500.
Ether traded under the 23.6% fib retracement degree of the latest wave from the low of $ 3,289 to the excessive of $ 3,551. On the flip aspect, the primary main help is close to the USD 3,420 degree.
Supply: ETHUSD on TradingView.com
The 50% fib retracement degree of the latest wave from the low of $ 3,289 to the excessive of $ 3,551 can be near the $ 3,420 degree. The principle help is now forming close to the USD 3,400 degree. A serious bullish trendline can be forming on the hourly chart of ETH / USD with help close to USD 3,390. Additional losses might require a transfer in the direction of the $ 3,250 help zone within the quick time period.
Different benefits at ETH?
If Ethereum stays steady above the USD 3,400 zone, there may very well be one other spike. Speedy resistance to the upside is close to the $ 3,500 degree.
A profitable shut above the USD 3,500 degree might drive the ether value in the direction of the USD 3,550 degree. The following main resistance is at $ 3,620, above which the bulls might goal a check of the $ 3,750 degree within the coming days.
Technical indicators
Hourly MACD – – The MACD for ETH / USD is slowly shedding momentum within the bullish zone.
Hourly RSI – – The RSI for ETH / USD is correcting decrease and approaching the 50 degree.
Major Assist Tier – $ 3,400
Major Resistance Stage – $ 3,550
