Ethereum settled nicely above $1,000 to start a fresh increase against the US Dollar. ETH price broke the $1,275 resistance to open the doors for a push towards $1,420.
- ETH price gained pace after it broke the $1,000 resistencia frente al dólar estadounidense.
- The price is up over 25%, and it is trading nicely above $1,300 y el 100 media móvil simple (4-horas).
- There was a break above a key contracting triangle with resistance near $1,240 on the 4-hours chart of ETH/USD (data feed via Kraken).
- Es probable que el par continúe al alza hacia $1,420 y $1,500 in the coming sessions.
Ethereum’s Ether Starts Another Increase
This past week, bitcoin and ethereum saw a significant rally above $1,000 y $230,000 respectively against the US Dollar. ETH price even surpassed the $1,110 resistance zone and settled well above the 100 media móvil simple (4-horas).
Ether price tested the $1,290 zone and recently started consolidating gains. There was a minor decline, but dips were remained well bid above the $1,190 nivel. A swing low was formed near $1,065 before the price started a fresh increase.
It broke the $1,200 level to move back into a positive zone. There was also a break above a key contracting triangle with resistance near $1,240 on the 4-hours chart of ETH/USD.
Fuente: ETHUSD en TradingView.com
It accelerated gains and the price even broke the $1,300 nivel. Ether price tested the $1,340 zona. Esta cerca de la 1.236 Fib extension level of the downward move from the $1,290 columpiarse alto para $1,065 bajo. It seems like the price might continue to rise towards the $1,400 nivel.
los 1.618 Fib extension level of the downward move from the $1,290 columpiarse alto para $1,065 low is at $1,428 to act as a key resistance for the bulls.
Dips Supported in Ether (ETH)?
If Ethereum fails to clear the $1,340 y $1,400 niveles de resistencia, it could start a downside correction. An initial support is near the $1,275 nivel (the recent breakout zone).
The main support is forming near the $1,180 nivel. Any more losses could lead the price towards $1,135, where he bulls are likely to take a strong stand.
4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone.
4 hours RSI – The RSI for ETH/USD is still well above the 60 nivel.
Major Support Level – $1,135
Major Resistance Level – $1,400
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