Ethereum started a major increase above the $1,200 resistance against the US Dollar. ETH even climbed above $1,400 and might rise further towards $1,500.<\/p>\n
Ethereum gained bullish momentum after there was a close above $1,250.
\nThe price is now trading above $1,350 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $1,325 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it clears the $1,420 resistance zone.<\/p>\n
Ethereum Price Gains Pace<\/p>\n
Ethereum moved into a positive zone after there was a close above the $1,200 and $1,250 levels. ETH cleared the $1,320 resistance zone to move further into a positive zone.<\/p>\n
The price gained pace and even climbed above the $1,400 level. It traded as high as $1,420 and settled well above the 100 hourly simple moving average. Ether price is now consolidating gains near the $1,400 level. It is also trading well above the 23.6% Fib retracement level of the recent rally from the $1,196 swing low to $1,420 high.<\/p>\n
Besides, there is a major bullish trend line forming with support near $1,325 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $1,420 level.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The first major resistance is near the $1,450 zone. A clear move above the $1,450 level could send the price higher. The next key barrier is near the $1,500 level, above which the price gain more bullish strength. In the stated case, the price could rise towards the $1,580 resistance zone.<\/p>\n
Dips Limited in ETH?<\/p>\n
If ethereum fails to rise above the $1,450 resistance, it could start a downside correction. An initial support on the downside is near the $1,380 zone. The next major support is near the $1,350 zone and the trend line.<\/p>\n
The main support sits near the $1,300 zone or the 50% Fib retracement level of the recent rally from the $1,196 swing low to $1,420 high. A downside break below the $1,300 support may perhaps spark another decline. In the stated case, the price could drop toward the $1,250 level, below which the bears might gain strength.<\/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 above the 60 level.<\/p>\n
Major Support Level \u2013 $1,350<\/p>\n
Major Resistance Level \u2013 $1,450<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum started a major increase above the $1,200 resistance against the US Dollar. ETH even climbed above $1,400 and might rise further towards $1,500.<\/p>\n
Ethereum gained bullish momentum after there was a close above $1,250.
\nThe price is now trading above $1,350 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $1,325 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it clears the $1,420 resistance zone.<\/p>\n
Ethereum Price Gains Pace<\/p>\n
Ethereum moved into a positive zone after there was a close above the $1,200 and $1,250 levels. ETH cleared the $1,320 resistance zone to move further into a positive zone.<\/p>\n
The price gained pace and even climbed above the $1,400 level. It traded as high as $1,420 and settled well above the 100 hourly simple moving average. Ether price is now consolidating gains near the $1,400 level. It is also trading well above the 23.6% Fib retracement level of the recent rally from the $1,196 swing low to $1,420 high.<\/p>\n
Besides, there is a major bullish trend line forming with support near $1,325 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $1,420 level.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The first major resistance is near the $1,450 zone. A clear move above the $1,450 level could send the price higher. The next key barrier is near the $1,500 level, above which the price gain more bullish strength. In the stated case, the price could rise towards the $1,580 resistance zone.<\/p>\n
Dips Limited in ETH?<\/p>\n
If ethereum fails to rise above the $1,450 resistance, it could start a downside correction. An initial support on the downside is near the $1,380 zone. The next major support is near the $1,350 zone and the trend line.<\/p>\n
The main support sits near the $1,300 zone or the 50% Fib retracement level of the recent rally from the $1,196 swing low to $1,420 high. A downside break below the $1,300 support may perhaps spark another decline. In the stated case, the price could drop toward the $1,250 level, below which the bears might gain strength.<\/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 above the 60 level.<\/p>\n
Major Support Level \u2013 $1,350<\/p>\n
Major Resistance Level \u2013 $1,450<\/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-3596","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\/3596","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=3596"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/3596\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=3596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=3596"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=3596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}