Ethereum Price Targets Upside Break: Positive Indicators Light the Path
09 Julio 2024 - 10:28PM
NEWSBTC
Ethereum price seems to be aiming for a decent recovery. ETH could
gain bullish momentum if there is a clear move above the $3,110
resistance. Ethereum is slowly moving higher above the $3,000
level. The price is trading above $3,000 and the 100-hourly Simple
Moving Average. There is a short-term declining channel or a
bullish flag forming with resistance near $3,080 on the hourly
chart of ETH/USD (data feed via Kraken). The pair could gain
bullish momentum if there is a close above the $3,110 resistance.
Ethereum Price Eyes Steady Recovery Ethereum price remained stable
above the $2,880 support zone. ETH started a decent upward move and
climbed above the $2,950 resistance, like Bitcoin. The price even
cleared the $3,050 resistance before the bears emerged. The pair
tested the $3,120 resistance zone. A high was formed at $3,110 and
the price is now consolidating gains. There was a minor decline
below $3,080. The price declined below the 23.6% Fib retracement
level of the upward move from the $2,895 swing low to the $3,110
high. Ethereum is now trading above $3,000 and the 100-hourly
Simple Moving Average. On the upside, the price is facing
resistance near the $3,080 level. There is also a short-term
declining channel or a bullish flag forming with resistance near
$3,080 on the hourly chart of ETH/USD. The first major resistance
is near the $3,110 level. The next major hurdle is near the $3,150
level. A close above the $3,150 level might send Ether toward the
$3,220 resistance. The next key resistance is near $3,320. An
upside break above the $3,320 resistance might send the price
higher toward the $3,500 resistance zone. Another Decline In ETH?
If Ethereum fails to clear the $3,110 resistance, it could start
another decline. Initial support on the downside is near $3,020.
The first major support sits near the $2,975 zone and the 61.8% Fib
retracement level of the upward move from the $2,895 swing low to
the $3,110 high. A clear move below the $2,975 support might push
the price toward $2,920. Any more losses might send the price
toward the $2,820 level in the near term. Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the
bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50
zone. Major Support Level – $2,975 Major Resistance Level – $3,110
Ethereum (COIN:ETHUSD)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Ethereum (COIN:ETHUSD)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024