TA: Ethereum Bulls In Control, Why ETH Could Clear $1,300
27 Giugno 2022 - 7:28AM
NEWSBTC
Ethereum is slowly moving higher above the $1,200 zone against the
US Dollar. ETH could continue to rise unless there is a clear move
below the $1,150 support. Ethereum is facing resistance near the
$1,250 and $1,280 levels. The price is now trading above $1,200 and
the 100 hourly simple moving average. There was a break below a key
bullish trend line with support near $1,225 on the hourly chart of
ETH/USD (data feed via Kraken). The pair could gain bullish
momentum if there is a clear move above the $1,250 resistance.
Ethereum Price Eyes More Gains Ethereum remained well supported
above the $1,150 level. ETH gained pace for a move above the $1,200
resistance zone to move into a positive zone. There was also a
spike above the $1,250 resistance and a close above the 100 hourly
simple moving average. Ether price traded as high as $1,281 and
recently corrected gains. There was a move below the $1,250 level.
The price declined below the 23.6% Fib retracement level of the
upward move from the $1,042 swing low to $1,281 high. Besides,
there was a break below a key bullish trend line with support near
$1,225 on the hourly chart of ETH/USD. The price is now trading
above $1,200 and the 100 hourly simple moving average. An immediate
resistance on the upside is near the $1,225 level. The next major
resistance is near the $1,250 zone. A clear move above the $1,250
resistance zone could start a steady increase. In the stated case,
the price could even surpass the $1,280 level. Source: ETHUSD on
TradingView.com The next major resistance is near the $1,320 level.
Any more gains could start a move towards the $1,440 resistance in
the near term. Fresh Decline in ETH? If ethereum fails to rise
above the $1,250 resistance, it could start a fresh decline. An
initial support on the downside is near the $1,200 zone and the 100
hourly simple moving average. The next major support is near the
$1,115 zone. It is close to the 50% Fib retracement level of the
upward move from the $1,042 swing low to $1,281 high. A close below
the $1,150 level might start another decline. In the stated case,
ether price may perhaps decline towards the $1,050 level. Technical
Indicators Hourly MACD – The MACD for ETH/USD is now gaining
momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is
now near the 50 level. Major Support Level – $1,150 Major
Resistance Level – $1,250
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