Ethereum extended its rise and traded towards $760 before correcting lower against the US Dollar. ETH price is showing positive signs and it looks set to clear $750-$760.
- Ethereum is trading in a positive zone and it recently climbed to a new yearly high at $758.
- The price is now trading well above $730 y el 100 media móvil simple horaria.
- There is a major bullish breakout pattern forming with resistance near $760 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair is likely to continue higher above the $750 y $760 niveles de resistencia a corto plazo.
Ethereum Price Eyes More Upsides
There was an upside extension in bitcoin price above $29,000, pushing Ethereum above the $740 resistance level. ETH price even spiked above the $750 level and settled nicely above the 100 media móvil simple horaria.
It traded to a new yearly high at $758 before starting a downside correction. Hubo una ruptura debajo del $750 nivel. Ether price even spiked below the 50% Nivel de retroceso de Fib del reciente aumento de la $715 swing low to $758 alto.
Fuente: ETHUSD en TradingView.com
sin embargo, the bulls were able to defend the $730 zona. The price also remained stable above the 61.8% Nivel de retroceso de Fib del reciente aumento de la $715 swing low to $758 alto.
It seems like there is a major bullish breakout pattern forming with resistance near $760 on the hourly chart of ETH/USD. The pair is currently consolidating above $730 and it could aim a fresh increase above the $750 nivel. Una clara ruptura por encima del $760 resistance level could open the doors for more upsides in the near term. En el caso indicado, the bulls are likely to aim a test of $800.
Dips Supported in ETH?
If ethereum fails to clear the $760 resistance zone, it could correct lower. An initial support on the downside is near the triangle lower trend line and $738.
A downside break below the triangle support trend line might lead ether price towards the $720 zona de apoyo. Any more losses may possibly call for a push towards the $705 level and the 100 hourly SMA in the near term.
Hourly MACD – The MACD for ETH/USD is showing positive signs in the bullish zone.
RSI por hora – The RSI for ETH/USD is currently close to the 50 nivel.
Major Support Level – $730
Major Resistance Level – $760
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