TA: Ethereum Gains Momentum, Why Bulls Could Aim More Upsides
October 26 2021 - 1:28AM
NEWSBTC
Ethereum started a fresh increase above $4,200 against the US
Dollar. ETH could gain pace if there is a clear break above
$4,250 in the near term. Ethereum was able to climb above the
$4,150 and $4,200 resistance levels. The price is now trading above
$4,120 and the 100 hourly simple moving average. There is a key
bullish trend line forming with support near $4,180 on the hourly
chart of ETH/USD (data feed via Kraken). The pair could start a
fresh increase if it clears the $4,250 and $4,260 resistance
levels. Ethereum Price Could Rise Further Ethereum started a from
increase from the $4,000 support zone. ETH was able to clear the
$4,120 resistance zone and the 100 hourly simple moving average.
Ether price even traded above the $4,200 resistance zone. A high
was formed near $4,253 and the price is now correcting lower. It
traded below the $4,220 level. An immediate support is near the
$4,180 level. The stated level is near the 23.6% Fib retracement
level of the upward move from the $3,965 swing low to $4,253 high.
There is also a key bullish trend line forming with support near
$4,180 on the hourly chart of ETH/USD. An immediate resistance on
the upside is near the $4,240 level. Source: ETHUSD on
TradingView.com The next major resistance is near the $4,260 level,
above which the price might start a fresh rally. In the stated
case, the price might rise towards the $4,320 level. Any more gains
could lead the price towards the $4,500 level. Dips Supported in
ETH? If ethereum fails to continue higher above the $4,240 and
$4,260 resistance levels, it could start a fresh downside
correction. An initial support on the downside is near the $4,180
level and the trend line. A break below the trend line could push
the price towards the $4,100 support level. It is close to the 50%
Fib retracement level of the upward move from the $3,965 swing low
to $4,253 high. The main support is near the $4,080 level and the
100 hourly SMA. Any more downsides could lead the price towards the
$3,950 support. Technical Indicators Hourly MACD – The MACD for
ETH/USD is losing pace in the bullish zone. Hourly RSI – The RSI
for ETH/USD is now above the 50 level. Major Support Level – $4,180
Major Resistance Level – $4,260
Ethereum (COIN:ETHUSD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ethereum (COIN:ETHUSD)
Historical Stock Chart
From Apr 2023 to Apr 2024