BTC / USD
62,124.43
0.22%
(-139.15)
ETH / USD
3,423.60
0.04%
(-1.49)
XRP / USD
0.65
9.43%
(+0.06)
LTC / USD
91.33
8.53%
(+7.18)
EOS / USD
1.02
15.04%
(+0.13)
BCH / USD
443.29
40.95%
(+128.78)
ADA / USD
0.74
8.25%
(+0.06)
XLM / USD
0.14
8.93%
(+0.01)
NEO / USD
16.51
2.52%
(+0.41)
XEM / USD
0.05
1.66%
(-0)
DASH / USD
35.97
8.47%
(+2.81)
USDT / USD
1.00
0.04%
(0)
BNB / USD
410.95
1.13%
(+4.57)
QTUM / USD
4.18
8.75%
(+0.34)
XVG / USD
0.01
0.19%
(0)
ONT / USD
0.31
5.22%
(+0.02)
ZEC / USD
31.23
6.54%
(+1.92)
STEEM / USD
0.29
4.56%
(+0.01)

Next Bullish Levels Traders Should Watch

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Ethereum gained bullish momentum and cleared the $3,000 resistance against the US Dollar. ETH price is rising, but it could face hurdles near the $3,200 level.

  • Ethereum found support and started a strong increase above the $3,000 level.
  • The price is now trading above $3,000 and the 100 hourly simple moving average.
  • There was a break above a key bearish trend line with resistance near $3,010 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could accelerate higher, but the $3,200 barrier might prevent additional gains.

Ethereum Price Reclaims $3K

Ethereum formed a base for a fresh increase above the $2,800 resistance zone. ETH was able to surpass many hurdles near the $2,880 and $3,000 levels.

It even settled above the $3,000 resistance and the 100 hourly simple moving average. Recently, there was a break above a key bearish trend line with resistance near $3,010 on the hourly chart of ETH/USD. The pair is now rising and trading above the $3,050 level.

A high is formed near $3,089 and the price might continue to rise. Ether is trading well above the 23.6% Fib retracement level of the upward move from the $2,952 swing low to $3,089 high.

Source: ETHUSD on TradingView.com

An immediate resistance on the upside is near the $3,120 level. A clear move above the $3,120 resistance could send the price towards a major hurdle at $3,200. The bears might take a stand near the $3,200 level. If they fail, ether price could perhaps surge towards the $3,420 level in the near term.

Dips Limited in ETH?

If ethereum fails to continue higher above $3,120 or $3,200, it could start a downside correction. An initial support on the downside is near the $3,040 level. The first major support is near the $3,020 level.

It is near the 50% Fib retracement level of the upward move from the $2,952 swing low to $3,089 high. A downside break below the $3,020 level might push the price further lower. The next major support is near the $2,920 level and the 100 hourly SMA, below which there is a risk of a sharp decline. In the stated case, the price might revisit $2,800

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining pace in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 level.

Major Support Level – $3,020

Major Resistance Level – $3,200

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