Ethereum Price Follows Bitcoin’s Rally, But Momentum Falls Short
29 Outubro 2024 - 12:48AM
NEWSBTC
Ethereum price started a fresh increase above the $2,550
resistance. ETH is following Bitcoin’s rally, but it is lacking the
same strength. Ethereum started a decent increase above the $2,600
zone. The price is trading above $2,550 and the 100-hourly Simple
Moving Average. There is a connecting bullish trend line forming
with support at $2,520 on the hourly chart of ETH/USD (data feed
via Kraken). The pair could continue to rise if it clears the
$2,630 and $2,650 resistance levels. Ethereum Price Starts Steady
Increase Ethereum price formed a base above the $2,450 level and
started a fresh increase like Bitcoin. ETH climbed above the $2,500
and $2,550 resistance levels to move into a positive zone. The
price is up over 5% and there was a move above the $2,600 level. A
high is formed at $2,630 and the price is showing positive signs.
It is holding gains above the 23.6% Fib retracement level of the
upward move from the $2,487 swing low to the $2,630 high. Ethereum
price is now trading above $2,550 and the 100-hourly Simple Moving
Average. There is also a connecting bullish trend line forming with
support at $2,520 on the hourly chart of ETH/USD. On the upside,
the price seems to be facing hurdles near the $2,630 level. The
first major resistance is near the $2,650 level. The main
resistance is now forming near $2,720. A clear move above the
$2,720 resistance might send the price toward the $2,880
resistance. An upside break above the $2,880 resistance might call
for more gains in the coming sessions. In the stated case, Ether
could rise toward the $2,950 resistance zone. Downside Correction
In ETH? If Ethereum fails to clear the $2,650 resistance, it could
start a downside correction. Initial support on the downside is
near the $2,595 level. The first major support sits near the $2,550
zone or the 50% Fib retracement level of the upward move from the
$2,487 swing low to the $2,630 high. A clear move below the $2,550
support might push the price toward $2,520. Any more losses might
send the price toward the $2,450 support level in the near term.
The next key support sits at $2,320. Technical Indicators Hourly
MACD – The MACD for ETH/USD is gaining momentum in the bullish
zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $2,550 Major Resistance Level – $2,650
Ethereum (COIN:ETHUSD)
Gráfico Histórico do Ativo
De Set 2024 até Out 2024
Ethereum (COIN:ETHUSD)
Gráfico Histórico do Ativo
De Out 2023 até Out 2024