NewsBTC
2023-11-24 04:11:11

Ethereum Price Forms Bullish Pattern, Why ETH Could Extend Its Rally

Ethereum price surged above $2,050. ETH is now consolidating gains and might soon aim for another rally toward the $2,150 level. Ethereum is consolidating and facing resistance near the $2,080 zone. The price is trading above $2,030 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with resistance near $2,080 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its rally if it clears the $2,080 and $2,090 resistance levels. Ethereum Price Holds Ground Ethereum price started a strong increase above the $2,000 resistance zone. ETH outperformed Bitcoin yesterday with a move above the $2,050 resistance zone. However, the bulls faced hurdles near the $2,080 and $2,090 levels. A high was formed near $2,092 and the price is now consolidating gains. There was a small correction below the $2,060 level. The price dipped below the 23.6% Fib retracement level of the upward wave from the $1,930 swing low to the $2,092 high. Ethereum is still well above $2,030 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,080 zone. There is also a short-term contracting triangle forming with resistance near $2,080 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com The first key resistance is near the $2,090 level. A clear move above the $2,090 level could send the price toward the $2,150 resistance zone. The next resistance is near $2,200, above which the price could aim for a move toward the $2,250 level. Any more gains could start a wave toward the $2,320 level. Another Drop in ETH? If Ethereum fails to clear the $2,080 resistance, it could start a fresh decline. Initial support on the downside is near the $2,055 level and the triangle trend line. The next key support is $2,010 or the 50% Fib retracement level of the upward wave from the $1,930 swing low to the $2,092 high. The key support is now at $1,975. A downside break below the $1,975 support might trigger more losses. In the stated case, Ether could drop toward the $1,930 support zone in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $2,055 Major Resistance Level – $2,080

Hankige Crypto uudiskiri
Loe lahtiütlusest : Kogu meie veebisaidi, hüperlingitud saitide, seotud rakenduste, foorumite, ajaveebide, sotsiaalmeediakontode ja muude platvormide ("Sait") siin esitatud sisu on mõeldud ainult teie üldiseks teabeks, mis on hangitud kolmandate isikute allikatest. Me ei anna meie sisu osas mingeid garantiisid, sealhulgas täpsust ja ajakohastust, kuid mitte ainult. Ükski meie poolt pakutava sisu osa ei kujuta endast finantsnõustamist, õigusnõustamist ega muud nõustamist, mis on mõeldud teie konkreetseks toetumiseks mis tahes eesmärgil. Mis tahes kasutamine või sõltuvus meie sisust on ainuüksi omal vastutusel ja omal äranägemisel. Enne nende kasutamist peate oma teadustööd läbi viima, analüüsima ja kontrollima oma sisu. Kauplemine on väga riskantne tegevus, mis võib põhjustada suuri kahjusid, palun konsulteerige enne oma otsuse langetamist oma finantsnõustajaga. Meie saidi sisu ei tohi olla pakkumine ega pakkumine