Ethereum gained pace and cleared the $1,200 zone against the US Dollar. ETH is up 8% and might continue to climb higher towards $1,300 or $1,320.<\/p>\n
Ethereum extended gains and climbed above the $1,200 resistance zone.
\nThe price is now trading above $1,200 and the 100 hourly simple moving average.
\nThere is a crucial bullish trend line forming with support near $1,210 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it stays above the key $1,200 support zone.<\/p>\n
Ethereum Price Gains Momentum<\/p>\n
Ethereum remained well supported above the $1,120 level. The price started a fresh increase and was able to clear a major hurdle near the $1,150 level.<\/p>\n
It opened the doors for a sharp increase above the $1,200 level. Ether price even broke the $1,250 level and traded to a new monthly high at $1,276. It is now trading above $1,200 and the 100 hourly simple moving average.<\/p>\n
The price is testing the 23.6% Fib retracement level of the recent increase from the $1,162 swing low to $1,276 high. There is also a crucial bullish trend line forming with support near $1,210 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $1,275 level.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,320 zone, above which the price may perhaps gain strength. In the stated case, the price could rise towards the $1,350 resistance. If the bulls remain in action, the price might climb towards the $1,420 zone.<\/p>\n
Dips Limited in ETH?<\/p>\n
If ethereum fails to rise above the $1,275 resistance, it could start a downside correction. An initial support on the downside is near the $1,230 zone. The next major support is near the $1,210 zone. It is close to the 50% Fib retracement level of the recent increase from the $1,162 swing low to $1,276 high.<\/p>\n
A downside break below the $1,210 support may perhaps send the price towards the 100 hourly simple moving average or $1,160. If the price fails to stay above the 100 hourly SMA, it could even slide towards the $1,120 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining 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 $1,210<\/p>\n
Major Resistance Level \u2013 $1,275<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum gained pace and cleared the $1,200 zone against the US Dollar. ETH is up 8% and might continue to climb higher towards $1,300 or $1,320.<\/p>\n
Ethereum extended gains and climbed above the $1,200 resistance zone.
\nThe price is now trading above $1,200 and the 100 hourly simple moving average.
\nThere is a crucial bullish trend line forming with support near $1,210 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it stays above the key $1,200 support zone.<\/p>\n
Ethereum Price Gains Momentum<\/p>\n
Ethereum remained well supported above the $1,120 level. The price started a fresh increase and was able to clear a major hurdle near the $1,150 level.<\/p>\n
It opened the doors for a sharp increase above the $1,200 level. Ether price even broke the $1,250 level and traded to a new monthly high at $1,276. It is now trading above $1,200 and the 100 hourly simple moving average.<\/p>\n
The price is testing the 23.6% Fib retracement level of the recent increase from the $1,162 swing low to $1,276 high. There is also a crucial bullish trend line forming with support near $1,210 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $1,275 level.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,320 zone, above which the price may perhaps gain strength. In the stated case, the price could rise towards the $1,350 resistance. If the bulls remain in action, the price might climb towards the $1,420 zone.<\/p>\n
Dips Limited in ETH?<\/p>\n
If ethereum fails to rise above the $1,275 resistance, it could start a downside correction. An initial support on the downside is near the $1,230 zone. The next major support is near the $1,210 zone. It is close to the 50% Fib retracement level of the recent increase from the $1,162 swing low to $1,276 high.<\/p>\n
A downside break below the $1,210 support may perhaps send the price towards the 100 hourly simple moving average or $1,160. If the price fails to stay above the 100 hourly SMA, it could even slide towards the $1,120 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining 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 $1,210<\/p>\n
Major Resistance Level \u2013 $1,275<\/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-2972","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\/2972","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=2972"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2972\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=2972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=2972"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=2972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}