Ethereum Price Preps for Breakout: Will Bulls Drive a Massive Upswing?
12 Dicembre 2024 - 4:28AM
NEWSBTC
Ethereum price started a decent increase above the $3,650 zone. ETH
is now rising and might aim for a move above the $3,900 resistance
zone. Ethereum started a decent increase above $3,650 and $3,680.
The price is trading below $3,750 and the 100-hourly Simple Moving
Average. There was a break above a key bearish trend line with
resistance at $3,720 on the hourly chart of ETH/USD (data feed via
Kraken). The pair could continue to move up if it clears the $3,850
and $3,900 resistance levels. Ethereum Price Eyes More Gains
Ethereum price remained stable above $3,500 and started a fresh
increase like Bitcoin. ETH was able to climb above the $3,650 and
$3,720 resistance levels. There was a break above a key bearish
trend line with resistance at $3,720 on the hourly chart of
ETH/USD. The bulls pushed the pair above the 50% Fib retracement
level of the downward wave from the $4,015 swing high to the $3,488
low. The price even spiked above the $3,800 resistance zone.
Ethereum price is now trading above $3,750 and the 100-hourly
Simple Moving Average. On the upside, the price seems to be facing
hurdles near the $3,850 level. The first major resistance is near
the $3,890 level or the 76.4% Fib retracement level of the downward
wave from the $4,015 swing high to the $3,488 low. The main
resistance is now forming near $4,000. A clear move above the
$4,000 resistance might send the price toward the $4,050
resistance. An upside break above the $4,050 resistance might call
for more gains in the coming sessions. In the stated case, Ether
could rise toward the $4,150 resistance zone or even $4,220.
Another Drop In ETH? If Ethereum fails to clear the $3,890
resistance, it could start another decline. Initial support on the
downside is near the $3,800 level. The first major support sits
near the $3,750 zone. A clear move below the $3,750 support might
push the price toward the $3,650 support. Any more losses might
send the price toward the $3,550 support level in the near term.
The next key support sits at $3,500. Technical Indicators Hourly
MACD – The MACD for ETH/USD is gaining momentum in the bullish
zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,750 Major Resistance Level – $3,890
Grafico Azioni Ethereum (COIN:ETHUSD)
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Grafico Azioni Ethereum (COIN:ETHUSD)
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