Ethereum Holding Key Uptrend Support And Poised To Rally Again

2020-5-1 07:38

Ethereum surged to a new monthly high at $227 before correcting lower against the US Dollar. ETH price is now testing the $205 support zone and it is likely to start a fresh rally. Ethereum started a downside correction after a strong rally above $220. The price is currently trading above the key uptrend supports at $205 and $200. There is a short term contracting triangle forming with resistance near $210 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to start a fresh increase above $210 as long as it is above $200. Ethereum Price Correcting Gains Yesterday, we saw a sharp rise in Ethereum above the $200 hurdle against the US Dollar. ETH surged more than 10% and even climbed above the $220 level and the 100 hourly simple moving average. It traded to a new monthly high at $227 and recently started a downside correction, similar to bitcoin. There was a break below the $212 and $210 support levels. Ether price even spiked below the $205 support, but it remained well bid above the $200 support and the 100 hourly simple moving average. It is currently trading above the 23.6% Fib retracement level of the recent decline from the $227 high to $203 swing low. An initial resistance on the upside is near the $210 level. There is also a short term contracting triangle forming with resistance near $210 on the hourly chart of ETH/USD. Ethereum Price If there is an upside break above the triangle resistance, Ethereum could test the $215 resistance area. The 50% Fib retracement level of the recent decline from the $227 high to $203 swing low is also near $215. A successful break above the $215 resistance area is must to start a fresh increase and rally above the $220 resistance area in the near term. Key Uptrend Support The main uptrend supports on the downside are near $205, $202 and the 100 hourly SMA. If Ethereum fails to stay above the $200 support zone, there is a risk of a larger decline. In the mentioned bearish case below the $200 support, the price is likely to continue lower towards the $192 and $190 support levels in the coming sessions. Technical Indicators Hourly MACD – The MACD for ETH/USD is about to move back into the bullish zone. Hourly RSI – The RSI for ETH/USD is currently struggling to climb above the 50 level. Major Support Level – $202 Major Resistance Level – $215

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rally ethereum support zone likely 205 testing

Источник: newsbtc.com

rally ethereum → Результатов: 126


$340: Ethereum Poised for a 100% Rally as 6 Months of Accumulation Comes to an End

Ethereum (ETH) along with most other major altcoins has been able to post a decent climb today, with the crypto rallying into the $170 region while Bitcoin pushes up towards $9,000. It is important to note that this rally may just be getting started, as one prominent cryptocurrency analyst explained in a recent tweet that... The post appeared first on NewsBTC.

2020-1-28 04:00


Ethereum’s consolidation trend may turn into a full-blown bull rally if it breaks this key level

Ethereum has been able to begin gaining some tempered momentum following its recent drop to lows of $162, as ETH has now pushed its way back up towards the $170 region. Although the cryptocurrency is still trading down slightly from its recent highs of $177 that was set this past Saturday, its ability to hold […] The post Ethereum’s consolidation trend may turn into a full-blown bull rally if it breaks this key level appeared first on CryptoSlate.

2020-1-22 16:41


Ethereum Could Be Weeks Away From a 400% Parabolic Rally; Levels to Watch

Ethereum has been closely tracking Bitcoin and the aggregated crypto markets over the past several days, which means that ETH’s multi-day price action has primarily favored sellers. In spite of this, ETH is still trading up significantly over a weekly period, and the cryptocurrency has been able to build some short-term momentum today, allowing it... The post appeared first on NewsBTC.

2020-1-22 00:00


Gigantic Ethereum Buy Wall May Be Enough to Spark a Parabolic Rally

Ethereum has been closely tracking Bitcoin’s volatile price action as of late, which head led ETH to gain a firm position within the $140 region. The cryptocurrency’s bulls have shown signs of growing vitality over the past several days, which comes as the altcoin market begins flashing hints of having immensely bullish near-term potential. It... The post appeared first on NewsBTC.

2020-1-13 01:00


This Indicator Signals the Ethereum Bear Market is Over, But Will an Insane Rally Follow?

Despite the lackluster price action seen by Bitcoin over the past several days, Ethereum (ETH) has been able to climb back above its previous resistance level at $130 and find some decent buying pressure at this price region, which has come about after an extended period of trading sideways just above its key support level... The post appeared first on NewsBTC.

2019-12-31 00:00


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