Ethereum is slowly moving higher towards $1,200 against the US Dollar. ETH could clear $1,200 unless it fails to stay above the $1,120 support zone.<\/p>\n
Ethereum extended gains and climbed above the $1,150 resistance zone.
\nThe price is now trading above $1,150 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $1,160 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it stays above the key $1,120 support zone.<\/p>\n
Ethereum Price Rises Steadily<\/p>\n
Ethereum remained steady above the $1,100 pivot level. There was a steady increase initiated above the $1,120 resistance zone.<\/p>\n
The bulls were able to push the price above the $1,150 and $1,160 levels. Ether price even broke the $1,185 level and traded as high as $1,194. Recently, there was a minor downside correction below the $1,180 level. The price declined below the 23.6% Fib retracement level of the recent increase from the $1,110 swing low to $1,194 high.<\/p>\n
However, the price is trading above $1,150 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $1,160 on the hourly chart of ETH\/USD.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
An immediate resistance on the upside is near the $1,190 level. The next major resistance is near the $1,120 zone, above which the price may perhaps gain strength. In the stated case, the price could rise towards the $1,250 resistance. If the bulls remain in action, the price might climb towards the $1,320 zone.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,200 resistance, it could start a downside correction. An initial support on the downside is near the $1,160 zone. The next major support is near the $1,150 zone. It is close to the 50% Fib retracement level of the recent increase from the $1,110 swing low to $1,194 high.<\/p>\n
A downside break below the $1,150 support may perhaps send the price towards the 100 hourly simple moving average or $1,120. Any more losses could spark a move towards $1,050.<\/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 $1,120<\/p>\n
Major Resistance Level \u2013 $1,200<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum is slowly moving higher towards $1,200 against the US Dollar. ETH could clear $1,200 unless it fails to stay above the $1,120 support zone.<\/p>\n
Ethereum extended gains and climbed above the $1,150 resistance zone.
\nThe price is now trading above $1,150 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $1,160 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it stays above the key $1,120 support zone.<\/p>\n
Ethereum Price Rises Steadily<\/p>\n
Ethereum remained steady above the $1,100 pivot level. There was a steady increase initiated above the $1,120 resistance zone.<\/p>\n
The bulls were able to push the price above the $1,150 and $1,160 levels. Ether price even broke the $1,185 level and traded as high as $1,194. Recently, there was a minor downside correction below the $1,180 level. The price declined below the 23.6% Fib retracement level of the recent increase from the $1,110 swing low to $1,194 high.<\/p>\n
However, the price is trading above $1,150 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $1,160 on the hourly chart of ETH\/USD.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
An immediate resistance on the upside is near the $1,190 level. The next major resistance is near the $1,120 zone, above which the price may perhaps gain strength. In the stated case, the price could rise towards the $1,250 resistance. If the bulls remain in action, the price might climb towards the $1,320 zone.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,200 resistance, it could start a downside correction. An initial support on the downside is near the $1,160 zone. The next major support is near the $1,150 zone. It is close to the 50% Fib retracement level of the recent increase from the $1,110 swing low to $1,194 high.<\/p>\n
A downside break below the $1,150 support may perhaps send the price towards the 100 hourly simple moving average or $1,120. Any more losses could spark a move towards $1,050.<\/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 $1,120<\/p>\n
Major Resistance Level \u2013 $1,200<\/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-2892","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\/2892","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=2892"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2892\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=2892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=2892"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=2892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}