CRYPTO

What support does Etherium hold, what could trigger a sharp rally


Ethereum is above the জো 3,400 support zone against the US dollar. The ETH price must clear $ 3,540 to start a new assembly in the near future.

  • Ethereum was well supported above the 3,400 and $ 3,380 levels.
  • Prices are now trading near the simple simple average of $ 3,520 and 100 hours.
  • ETH / USD (data feed via Kraken) has a major downside channel with resistance around $ 3,520 per hour on the chart.
  • The pair could start a new rally if there is a clear break above $ 3,540 and $ 3,550.

The price of etherium could be green

Ethereum has started a new fall from the $ 3,600 resistance zone. ETH has traded below the ল 3,500 support and 100-hour simple moving average. However, the bulls were active near the $ 3,400 level.

A low was formed around $ 3,405 and prices are now rising. Ether prices are now trading above 3,450. A break above the 23.6% Fib retracement level was $ 3,620 swing high to $ 3,405 swing low.

It is now trading near 3,520 and has a simple moving average of 100 hours. ETH / USD also has a major bearish channel with resistance near $ 3,520 on the hourly chart.

The trend line is near the 50% Fib retracement level of the downward move from the $ 3,620 swing high to the $ 3,405 swing low. If there is a clear break above the channel resistance, the price could start a new rise above $ 3,540.

Source: ETHUSD on TradingView.com

The next major resistance is near the $ 3,540 level, above which the price could start a new geopolitical. In the case described, the price could rise to the 3,620 level.

ETH supported dips?

If Ethereum fails to move above the resistance levels of $ 3,520 and 3,540, it could start a new fall. The initial support on the negative side is near the $ 3,450 level.

The first key support is now forming near the $ 3,400 level. If there is a negative break below the support levels of $ 3,400 and 3,380, the price may fall further. Next key support is around $ 3,375. And any damage could push the price of ether to the $ 3,300 support zone.

Technical indicators

MACD per hourMACD is gaining momentum in the bullish zone for ETH / USD.

RSI per hourThe RSI of ETH / USD is now above the 50 level.

Main support level – $ 3,520

The main resistance level – $ 3,450



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