Ethereum Price Rally In Jeopardy? Key Supports To Watch Out In Short-Term
29 Noviembre 2023 - 10:56PM
NEWSBTC
Ethereum price corrected lower below $2,050. ETH is now
consolidating above the $2,020 support and might start a fresh
increase in the near term. Ethereum is still struggling to climb
above the $2,075 and $2,080 resistance levels. The price is trading
below $2,050 and the 100-hourly Simple Moving Average. There was a
break below a key bullish trend line with support at $2,040 on the
hourly chart of ETH/USD (data feed via Kraken). The pair could gain
bullish momentum if it clears the 100-hourly Simple Moving Average
and then $2,075. Ethereum Price Trims Gains Ethereum price
struggled to clear the $2,075 resistance zone. The bears took
control and pushed ETH below the $2,050 level. However, Bitcoin
managed to stay above the $37,550 support zone. ETH traded below
the 50% Fib retracement level of the upward move from the $1,986
swing low to the $2,076 high. Besides, there was a break below a
key bullish trend line with support at $2,040 on the hourly chart
of ETH/USD. Ethereum is now trading below $2,050 and the 100-hourly
Simple Moving Average. It is now consolidating above the $2,020
support zone. On the upside, the price is facing resistance near
the $2,00 zone and the 100-hourly Simple Moving Average. The first
key resistance is near the $2,075 level. The next resistance sits
at $2,090. A clear move above the $2,090 level could send the price
toward the $2,130 resistance zone. Source: ETHUSD on
TradingView.com The next resistance is near $2,200, above which the
price could aim for a move toward the $2,250 level. Any more gains
could start a wave toward the $2,320 level. More Losses in ETH? If
Ethereum fails to clear the $2,050 resistance, it could continue to
move down. Initial support on the downside is near the $2,020
level. The next key support is $2,000. A downside break below
$2,000 might start a steady decline. The key support is now at
$1,930, below which there is a risk of a move toward the $1,880
level in the near term. Technical Indicators Hourly MACD – The MACD
for ETH/USD is losing momentum in the bearish zone. Hourly RSI –
The RSI for ETH/USD is now below the 50 level. Major Support Level
– $2,020 Major Resistance Level – $2,075
Ethereum (COIN:ETHUSD)
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Ethereum (COIN:ETHUSD)
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