BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

TA: Ethereum Prints Bullish Pattern, Why ETH Could Revisit $4.5K

TA: Ethereum Prints Bullish Pattern, Why ETH Could Revisit $4.5K
Ethereum is stable above the $4,250 pivot level against the US Dollar. ETH could accelerate higher if there is a clear break above the $4,350 resistance zone.

Ethereum is trading in a bullish zone above the $4,200 level.
The price is consolidating above $4,250 and the 100 hourly simple moving average.
There was a break above a key contracting triangle with resistance near $4,270 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could gain bullish momentum if there is a clear break above the $4,350 resistance zone.

Ethereum Price Is Rising
Ethereum formed a base above the $4,150 support level. ETH price started a steady recovery wave above the $4,200 resistance zone to move into short-term positive zone.
The price was able to clear the 50% Fib retracement level of the downward move from the $4,386 swing high to $4,169 low. Besides, there was a break above a key contracting triangle with resistance near $4,270 on the hourly chart of ETH/USD.
The pair is consolidating above $4,250 and the 100 hourly simple moving average. An initial resistance on the upside is near the $4,335 level.
The 76.4% Fib retracement level of the downward move from the $4,386 swing high to $4,169 low is also near the $4,330 level. The first major resistance is near the $4,350 level. A close above the $4,330 and $4,350 levels could start a fresh increase in the near term.

Source: ETHUSD on TradingView.com
In the stated case, the price might rise towards the $4,500 level. Any more gains could lift the price towards the $4,650 breakout zone in the near term, where the bears are likely to take a stand.
Fresh Drop in ETH?
If ethereum fails to start a fresh increase above the $4,330 level, it could start a fresh decline. An initial support on the downside is near the $4,270 level.
The first key support is now forming near the $4,250 level and the 100 hourly simple moving average. A downside break below the $4,250 support might push the price further lower. In this case, ether price may perhaps decline towards the $4,150 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 correcting lower towards the 50 level.
Major Support Level – $4,150
Major Resistance Level – $4,350

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ TA: Ethereum Prints Bullish Pattern, Why ETH Could Revisit $4.5K


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News