Ethereum Price Surges: Can the Rally Sustain?
15 Outubro 2024 - 1:18AM
NEWSBTC
Ethereum price started a fresh increase above the $2,500
resistance. ETH is up over 5% and might continue to rise if it
clears the $2,650 resistance. Ethereum started a fresh increase
above the $2,500 and $2,550 resistance levels. The price is trading
above $2,550 and the 100-hourly Simple Moving Average. There is a
key bullish trend line forming with support near $2,52 on the
hourly chart of ETH/USD (data feed via Kraken). The pair could
continue to rally if it clears the $2,620 and $2,650 resistance
levels. Ethereum Price Jumps Over 5% Ethereum price formed a base
above the $2,400 level and started a fresh increase. ETH cleared
the $2,450 and $2,500 resistance levels to move into a positive
zone, beating Bitcoin. The bulls even pushed the price above the
$2,600 level. A high was formed at $2,650 and the price is now
consolidating gains. The price is stable above the 23.6% Fib
retracement level of the upward wave from the $2,442 swing low to
the $2,650 high. Ethereum price is now trading above $2,550 and the
100-hourly Simple Moving Average. There is also a key bullish trend
line forming with support near $2,52 on the hourly chart of
ETH/USD. On the upside, the price seems to be facing hurdles near
the $2,640 level. The first major resistance is near the $2,650
level. A clear move above the $2,650 resistance might send the
price toward the $2,720 resistance. An upside break above the
$2,720 resistance might call for more gains in the coming sessions.
In the stated case, Ether could rise toward the $2,800 resistance
zone in the near term. The next hurdle sits near the $2,880 level
or $2,920. Another Decline In ETH? If Ethereum fails to clear the
$2,650 resistance, it could start another decline. Initial support
on the downside is near the $2,600 level. The first major support
sits near the $2,520 zone and the trend line or the 61.8% Fib
retracement level of the upward wave from the $2,442 swing low to
the $2,650 high. A clear move below the $2,520 support might push
the price toward $2,450. Any more losses might send the price
toward the $2,400 support level in the near term. The next key
support sits at $2,350. Technical Indicators Hourly MACD – The MACD
for ETH/USD is losing momentum in the bullish zone. Hourly RSI –
The RSI for ETH/USD is now above the 50 zone. Major Support Level –
$2,600 Major Resistance Level – $2,650
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