Bitcoin
A$ 78,406
WINkLink
A$ 0.0007707
Ethereum
A$ 5,330.5

TA: Ethereum Bulls Keeps Pushing, Why Rally Isn’t Over Yet

Ethereum extended its rise above the $1,820 resistance against the US Dollar. ETH price is currently correcting lower from $1,860, but it might find bids near $1,780.

  • Ethereum extended its upward move above the $1,820 level and it even spiked above $1,850.
  • The price is now well above the $1,780 support and the 100 hourly simple moving average.
  • There is a key bullish trend line forming with support near $1,755 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could correct lower, but the bulls are likely to remain active near $1,750.

Ethereum Price Remains In Uptrend

Ethereum remained in a bullish zone above the $1,750 zone, similar to bitcoin. ETH broke the $1,800 and $1,820 resistance levels to move further into a positive zone.

The price even spiked above the $1,850 resistance and it settled nicely above the 100 hourly simple moving average. A high is formed near $1,863 and the price is currently correcting lower. There was a break below the $1,850 pivot level.

Ether even declined below the 50% Fib retracement level of the recent increase from the $1,787 swing low to $1,863 high. It is now testing the $1,820 support zone.

Ethereum Price

Source: ETHUSD on TradingView.com

The 61.8% Fib retracement level of the recent increase from the $1,787 swing low to $1,863 high is also near $1,816. Moreover, there is a key bullish trend line forming with support near $1,755 on the hourly chart of ETH/USD.

On the upside, the $1,850 and $1,860 levels are key barriers for the bulls. A clear break above the $1,850 resistance and a follow up move above the $1,863 could set the pace for a test of $1,900.

Dips Limited in ETH?

If Ethereum fails to climb above the $1,850 and $1,860 resistance levels, it could correct lower. An initial support on the downside is near the $1,820 level.

The first major support is near the $1,800 level. The main support is now forming near the $1,750 level, the trend line, and the 100 hourly simple moving average. Any more losses may possibly open the doors for a move towards the $1,700 and $1,650 support levels.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly gaining momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now declining towards the 50 level.

Major Support Level – $1,750

Major Resistance Level – $1,850

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CryptoCurrencyAUDChange 1hChange 24hChange 7d
Bitcoin78,406 0.10 % 3.40 % 11.15 %
Ethereum5,330.5 0.05 % 5.34 % 4.05 %
Binance Coin607.23 0.11 % 5.98 % 9.41 %
Tether1.330 0.14 % 0.28 % 0.08 %
Cardano2.580 0.11 % 9.87 % 11.79 %
Solana249.42 0.30 % 7.92 % 6.62 %
XRP1.340 0.15 % 9.63 % 12.15 %
Polkadot54.61 0.72 % 8.77 % 7.99 %
Shiba Inu0.0001148 3.23 % 74.46 % 194.74 %
USD Coin1.330 0.12 % 0.04 % 0.25 %

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