Ethereum Makes a Recover After The Dip Last Week

Image Courtesy: Crypto Lab | (Buyucoin.com)

Ethereum Prediction And Analysis: ETH News

Ethereum extended its up move over the $2,550 resistance zone against the US Dollar. ETH price settled over the 100 hourly SMA and it could continue to rise.

  • Ethereum extended its comeback wave over the $2,550 and $2,600 levels.
  • The cost is currently trading over the $2,500 support and the 100 hourly simple moving average.
  • The set is now showing positive signs above $2,500, but it’s also facing hurdles near $2,760

Ethereum remained supported over the 2,200 level and it began a steady recovery tide. There was a break above a few significant hurdles around the $2,250 level.

It opened the doors for a strong move above the $2,500 amount and the 100 hourly simple moving average.

Immediate support is close to the 2,525 level. It’s close to the 23.6% Fib retracement level of this upward movement in the $1,740 swing low to $2,768 high. The first big support is close to the 2,480 level and the 100 hourly simple moving average.

On the upside, the first big resistance is close to the $2,750 level. A clear break above the new high could lead the purchase price towards the 2,930 resistance. The following key resistance is near $3,000. Any more profits might call for a test of the $3,200 level.

If Ethereum fails to continue higher over the $2,700 and $2,760 resistance levels, it might begin another decline. Initial support on the downside is close to the $2,500 zone.

The first key support is near the 2,480 level and the 100 hourly SMA. The main support is currently forming near the 2,255 level. It’s close to the 50% Fib retracement level of this upward movement in the $1,740 swing low to $2,768 high.

Indicators ETH/USDT is gradually losing pace from the bullish zone.

Major Support Amount — $2,480

Major Resistance Amount — $2,760

The article was originally published on NewsBtc.

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Devendra Singh Khati

Devendra Singh Khati

Crypto Evangelist with Computing and Finance background.