Ethereum Dragged Higher By Bitcoin But Can ETH Clear Hurdles?
The post Ethereum Dragged Higher By Bitcoin But Can ETH Clear Hurdles? appeared on BitcoinEthereumNews.com. Ethereum price started a decent increase after Bitcoin gained momentum against the US dollar. ETH is rising and might test the key $1,750 resistance. Ethereum started a decent increase above the $1,650 resistance. The price is trading above $1,660 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $1,645 on the hourly chart of ETH/USD (data feed via Kraken). The pair could climb further higher, but it might face strong resistance near $1,750. Ethereum Price Reclaims $1,650 Ethereum stayed above the $1,550 support zone. The recent pump in Bitcoin above the $28,500 resistance sparked bullish moves in ETH. There was a steady increase above the $1,600 and $1,620 resistance levels. The price even cleared the key $1,650 resistance zone. A high is formed near $1,700 and the price is now consolidating gains. It is trading well above the 23.6% Fib retracement level of the upward move from the $1,620 swing low to the $1,700 high. Ethereum is now trading above $1,660 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $1,645 on the hourly chart of ETH/USD. The trend line is near the 61.8% Fib retracement level of the upward move from the $1,620 swing low to the $1,700 high. On the upside, the price is facing resistance near the $1,700 level. The first major resistance is near the $1,720 zone. The next key resistance is $1,750, where the bears might emerge. To continue higher, the price must settle above the $1,750 resistance. Source: ETHUSD on TradingView.com In the stated case, Ether could start a strong increase toward the $1,880 resistance. Any more gains might open the doors for a move toward $2,000. Downside Correction in ETH? If Ethereum fails to clear the…
The post Ethereum Dragged Higher By Bitcoin But Can ETH Clear Hurdles? appeared on BitcoinEthereumNews.com.
Ethereum price started a decent increase after Bitcoin gained momentum against the US dollar. ETH is rising and might test the key $1,750 resistance. Ethereum started a decent increase above the $1,650 resistance. The price is trading above $1,660 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $1,645 on the hourly chart of ETH/USD (data feed via Kraken). The pair could climb further higher, but it might face strong resistance near $1,750. Ethereum Price Reclaims $1,650 Ethereum stayed above the $1,550 support zone. The recent pump in Bitcoin above the $28,500 resistance sparked bullish moves in ETH. There was a steady increase above the $1,600 and $1,620 resistance levels. The price even cleared the key $1,650 resistance zone. A high is formed near $1,700 and the price is now consolidating gains. It is trading well above the 23.6% Fib retracement level of the upward move from the $1,620 swing low to the $1,700 high. Ethereum is now trading above $1,660 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $1,645 on the hourly chart of ETH/USD. The trend line is near the 61.8% Fib retracement level of the upward move from the $1,620 swing low to the $1,700 high. On the upside, the price is facing resistance near the $1,700 level. The first major resistance is near the $1,720 zone. The next key resistance is $1,750, where the bears might emerge. To continue higher, the price must settle above the $1,750 resistance. Source: ETHUSD on TradingView.com In the stated case, Ether could start a strong increase toward the $1,880 resistance. Any more gains might open the doors for a move toward $2,000. Downside Correction in ETH? If Ethereum fails to clear the…
What's Your Reaction?
