Ethereum Price Breaking This Confluence Resistance Could Spark Fresh Surge

2023-11-3 07:19

Ethereum price corrected lower from the $1,875 zone against the US dollar. ETH retested the $1,780 zone and might soon attempt a fresh surge.

Ethereum holds the key support at $1,780 and $1,750. The price is trading below $1,820 and the 100-hourly Simple Moving Average. There was a break above a steep bearish trend line with resistance near $1,795 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase toward the $1,850 and $1,875 resistance levels. Ethereum Price Revisits Uptrend Support

Ethereum attempted a fresh increase above the $1,850 resistance but upsides were limited, like Bitcoin. ETH traded as high as $1,874 and recently started a downside correction.

There was a move below the $1,850 and $1,820 levels. The price even spiked below the $1,800 level and the 100-hourly Simple Moving Average. It retested the $1,780 support zone. A low is formed near $1,777 and the price is now attempting another increase.

There was a break above a steep bearish trend line with resistance near $1,795 on the hourly chart of ETH/USD. Ethereum is now trading near the 23.6% Fib retracement level of the recent drop from the $1,874 swing high to the $1,777 low.

On the upside, the price is facing resistance near the $1,810 level and the 100-hourly Simple Moving Average. The first major resistance sits at $1,825 or the 50% Fib retracement level of the recent drop from the $1,874 swing high to the $1,777 low.

Source: ETHUSD on TradingView.com

If ETH surpasses the $1,825 resistance, it could again start a steady increase and test $1,875. The next key resistance is near $1,920, above which the price could accelerate higher toward the $2,0000 level. Any more gains might call for a move toward the $2,050 level.

More Losses in ETH?

If Ethereum fails to clear the $1,825 resistance, it could continue to move down. Initial support on the downside is near the $1,780 level or the recent low.

The next key support is $1,750. A downside break below the $1,750 support might spark a bearish wave. In the stated case, Ether could drop toward the $1,650 level.

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 – $1,780

Major Resistance Level – $1,825

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 2968.96 (-0.30%)
Объем 24H $12.048b
Изменеия 24h: -2.44 %, 7d: -0.01 %
Cегодня L: $2945.83 - H: $2977.86
Капитализация $356.582b Rank 2
Цена в час новости $ 1792.69 (65.61%)

ethereum price zone 780 fresh surge support

Источник: newsbtc.com

ethereum price → Результатов: 126


ETHEREUM PRICE ANALYSIS & PREDICTION (January 1) – ETH Continues to Lose Momentum After Facing Rejection, Big Drop Around The Corner? 

Ethereum advanced bullish this week and broke out to a new yearly high. But it saw a rejection and failed to sustain bullish momentum. The price slipped and now looks weak on the daily timeframe.  Following a quick recovery above the $2100 level in the mid-month, Ethereum’s price increased and […]

2024-1-2 13:37


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Price Prediction: Crypto Expert Says ETH Is Yet To Bottom Against Bitcoin

A crypto analyst has predicted when Ethereum, the world’s second-largest cryptocurrency, will bottom against Bitcoin, however, under certain conditions.   Analyst Predicts ETH/BTC Bottom Timeline In a recent X (formerly Twitter) post, crypto analyst and founder of ITC Crypto, Benjamin Cowen, shared his forecast regarding the Ethereum to Bitcoin price ratio, projecting the timeline for when ETH/BTC would hit its lowest value in the current market cycle.