Ethereum Price Hits $3K Milestone Again: Will The Gains Keep Coming?
11 Novembro 2024 - 12:48AM
NEWSBTC
Ethereum price started a fresh increase above the $3,000
resistance. ETH is up over 10% and now approaches the key barrier
at $3,250. Ethereum started a fresh surge above the $2,880
resistance zone. The price is trading above $3,000 and the
100-hourly Simple Moving Average. There is a new bullish trend line
forming with support at $3,120 on the hourly chart of ETH/USD (data
feed via Kraken). The pair could continue to rise if it clears the
$3,250 resistance. Ethereum Price Regains Momentum Ethereum price
started a fresh increase above the $2,750 resistance like Bitcoin.
ETH was able to climb above the $2,880 and $3,000 resistance levels
to move further into a positive zone. It even surged above the
$3,120 level in the past few sessions. It is up over 10% and there
was a move above $3,150. A high is formed at $3,249 before there
was a minor pullback. There was a move below the 50% Fib
retracement level of the upward move from the $3,020 swing low to
the $3,249 high. However, the bulls were active near the $3,080
level and the 76.4% Fib retracement level of the upward move from
the $3,020 swing low to the $3,249 high. Ethereum price is now
trading above $3,120 and the 100-hourly Simple Moving Average.
There is also a new bullish trend line forming with support at
$3,120 on the hourly chart of ETH/USD. On the upside, the price
seems to be facing hurdles near the $3,200 level. The first major
resistance is near the $3,250 level. The main resistance is now
forming near $3,300. A clear move above the $3,300 resistance might
send the price toward the $3,350 resistance. An upside break above
the $3,420 resistance might call for more gains in the coming
sessions. In the stated case, Ether could rise toward the $3,500
resistance zone. Are Dips Supported In ETH? If Ethereum fails to
clear the $3,250 resistance, it could start a downside correction.
Initial support on the downside is near the $3,150 level. The first
major support sits near the $3,120 zone and the trend line. A clear
move below the $3,120 support might push the price toward $3,080.
Any more losses might send the price toward the $3,050 support
level in the near term. The next key support sits at $3,000.
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 – $3,120 Major
Resistance Level – $3,250
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