Ethereum has corrected below $ 3,500 against the US dollar. The ETH price has remained supportive and it is now looking at a key reversal break above the $ 3,650 resistance.
- Ethereum has started a new rise above the মাত্র 3,500 resistance level.
- The price is now trading above the simple simple average of $ 3,550 and 100 hours.
- ETH / USD (data feed via Kraken) had a break above a key bearish trend line with resistance near $ 3,560 per hour on the chart.
- The pair could gain momentum if there is a clear break above $ 3,640 and $ 3,650.
Ethereum price reverse the key to the eye
Ethereum started a negative correction from the 3,634 swing high. ETH traded below the 3,550 support level and below the 100-hour simple moving average.
However, the price was well bid above the $ 3,350 support. A low was formed around $ 3,375 and prices started a new rise. There was a clear break above the resistance levels of $ 3,500 and 3,550. The ether has crossed the 50% Fib retracement level from the $ 3,634 swing high to the নী 3,375 low.
The ETH / USD hourly chart had a break above a key bearish trend line with resistance near $ 3,560. The pair is now trading above 3, 3,550 and above the 100-hour simple moving average.
Source: ETHUSD on TradingView.com
It moved below the .4..4% Fib retracement level, down from 6 6 swing to $ 3.3. Side upward is an immediate resistance near the $ 3,600 level. The first major resistance is near the $ 3,620 level.
The next major resistance is near the $ 3,650 level, above which the price may start a new geopolitical. In the case described, the price could rise to the 3,720 level. The next key resistance could be 3,800.
Dips Ltd. at ETH?
If Ethereum fails to move above the মাত্র 3,620 and $ 3,650 resistance levels, it could start a new negative correction. The initial support on the negative side is near the $ 3,550 level.
First Key Support is now hovering around the 3,520 level and creating an easy 100-hour moving average. If there is any further damage, the price of ether could rise towards the support zone of ০০ 40,000.
MACD per hour – MACD is gaining momentum in the bullish zone for ETH / USD.
RSI per hour – The RSI of ETH / USD is now above the 50 level.
Main support level – $ 3,500
The main resistance level – $ 3,650