TA: Ethereum Nears Breakout Zone, Why ETH Might Start Recovery
11 Maio 2022 - 2:08AM
NEWSBTC
Ethereum started an upside correction from $2,200 against the US
Dollar. ETH might gain bullish momentum if it clears the $2,400
resistance zone. Ethereum started an upside correction above $2,300
and $2,320. The price is still trading below $2,400 and the 100
hourly simple moving average. There is a key bearish trend line
forming with resistance near $2,385 on the hourly chart of ETH/USD
(data feed via Kraken). The pair could start a steady recovery wave
if there is a close above $2,400 and $2,450. Ethereum Price Faces
Breakout Resistance Ethereum extended its decline below the $2,400
level. ETH even traded below the $2,300 before the bulls appeared
near the $2,200 support zone. The price started a recovery wave
above the $2,300 and $2,320 levels. The bulls pumped the price
above $2,400, but they failed near $2,450. Recently, there was a
fresh decline to $2,250. A low is formed near $2,263 and the price
is now rising. There was a break above the $2,320 level. Ether
price is trading above the 50% Fib retracement level of the recent
decline from the $2,455 swing high to $2,263 low. However, it is
still trading below $2,400 and the 100 hourly simple moving
average. On the upside, an initial resistance is seen near the
$2,385 level. There is also a key bearish trend line forming with
resistance near $2,385 on the hourly chart of ETH/USD. Source:
ETHUSD on TradingView.com The first major resistance is near the
$2,400 level. The main resistance is now forming near the $2,455
level. A close above the $2,455 level could open the doors for a
decent increase. In the stated case, ether price might rise towards
the $2,550 resistance. More Losses in ETH? If ethereum fails to
recover above the $2,455 resistance, it could continue to move
down. An initial support on the downside is near the $2,300 zone.
The next major support is near the $2,260 level. The main breakdown
support now sits near the $2,225 level. If there is a downside
break below $2,225 and the $2,200 zone, ether price extend losses.
In the stated case, it might even visit the $2,000 support.
Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly
moving in the bullish zone. Hourly RSI – The RSI for ETH/USD is
just above the 50 level. Major Support Level – $2,260 Major
Resistance Level – $2,455
Ethereum (COIN:ETHUSD)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Ethereum (COIN:ETHUSD)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024