Ethereum started a fresh increase after it remained stable near $1,000 against the US Dollar. ETH could rise further above the $1,150 resistance zone.<\/p>\n
Ethereum gained strength for a move above the $1,080 and $1,100 levels.
\nThe price is now trading above $1,100 and the 100 hourly simple moving average.
\nThere was a break above a key contracting triangle with resistance near $1,075 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if there is a move above the $1,150 resistance zone.<\/p>\n
Ethereum Price Gains Pace<\/p>\n
Ethereum remained stable above the $1,000 support and there was no downside break. As a result, a base was formed and the price started a decent increase.<\/p>\n
The price was able to clear a couple of key hurdles near the $1,070 zone. There was a break above a key contracting triangle with resistance near $1,075 on the hourly chart of ETH\/USD. The price even tested the 61.8% Fib retracement level of the key drop from the $1,235 swing high to $997 low.<\/p>\n
Ether price traded as high as $1,158 and trading well above the 100 hourly simple moving average. It is also well above the 23.6% Fib retracement level of the recent increase from the $1,025 swing low to $1,158 high.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
An immediate resistance on the upside is near the $1,150 level. The next major resistance is near the $1,180 zone, above which the price may perhaps clear the $1,200 resistance. In the stated case, the price could rise towards the $1,250 resistance. Any more gains might send the price towards the $1,300 zone.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,150 resistance, it could start a downside correction. An initial support on the downside is near the $1,125 zone.<\/p>\n
The next major support is near the $1,090 zone and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the recent increase from the $1,025 swing low to $1,158 high. A downside break below the $1,090 support may perhaps put pressure on the bulls in the near term. The next major support sits near $1,060.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now well above the 50 level.<\/p>\n
Major Support Level \u2013 $1,125<\/p>\n
Major Resistance Level \u2013 $1,090<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum started a fresh increase after it remained stable near $1,000 against the US Dollar. ETH could rise further above the $1,150 resistance zone.<\/p>\n
Ethereum gained strength for a move above the $1,080 and $1,100 levels.
\nThe price is now trading above $1,100 and the 100 hourly simple moving average.
\nThere was a break above a key contracting triangle with resistance near $1,075 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if there is a move above the $1,150 resistance zone.<\/p>\n
Ethereum Price Gains Pace<\/p>\n
Ethereum remained stable above the $1,000 support and there was no downside break. As a result, a base was formed and the price started a decent increase.<\/p>\n
The price was able to clear a couple of key hurdles near the $1,070 zone. There was a break above a key contracting triangle with resistance near $1,075 on the hourly chart of ETH\/USD. The price even tested the 61.8% Fib retracement level of the key drop from the $1,235 swing high to $997 low.<\/p>\n
Ether price traded as high as $1,158 and trading well above the 100 hourly simple moving average. It is also well above the 23.6% Fib retracement level of the recent increase from the $1,025 swing low to $1,158 high.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
An immediate resistance on the upside is near the $1,150 level. The next major resistance is near the $1,180 zone, above which the price may perhaps clear the $1,200 resistance. In the stated case, the price could rise towards the $1,250 resistance. Any more gains might send the price towards the $1,300 zone.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,150 resistance, it could start a downside correction. An initial support on the downside is near the $1,125 zone.<\/p>\n
The next major support is near the $1,090 zone and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the recent increase from the $1,025 swing low to $1,158 high. A downside break below the $1,090 support may perhaps put pressure on the bulls in the near term. The next major support sits near $1,060.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now well above the 50 level.<\/p>\n
Major Support Level \u2013 $1,125<\/p>\n
Major Resistance Level \u2013 $1,090<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-2740","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=2740"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2740\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=2740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=2740"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=2740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}