The Unstoppable Rise of ETH Continues

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Ethereum price started a fresh surge above the $2,350 zone. ETH is now up over 35% and consolidating gains near the $2,500 zone. Ethereum started a fresh surge above the $2,350 resistance. The price is trading above $2,400 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $2,480 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it breaks the $2,600 resistance level. Ethereum Price Surges And Clears $2,500 Ethereum price remained supported and started a fresh increase above $2,200, beating Bitcoin. ETH gained pace for a move above the $2,350 resistance zone. The bulls were able to push the price above the $2,500 resistance zone. The price gained over 35% and recently surpassed the $2,550 resistance zone. A high was formed at $2,606 and the price is now consolidating gains. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $2,272 swing low to the $2,606 high. Ethereum price is now trading above $2,500 and the 100-hourly Simple Moving Average. Besides, there is a connecting bullish trend line forming with support at $2,480 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $2,550 level. The next key resistance is near the $2,600 level. The first major resistance is near the $2,620 level. A clear move above the $2,620 resistance might send the price toward the $2,650 resistance. An upside break above the $2,650 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,720 resistance zone or even $2,780 in the near term. Are Dips Limited In ETH? If Ethereum fails to clear the $2,550 resistance, it could start a fresh downside correction. Initial support on the downside is near the $2,470 level. The first major support sits near the $2,440 zone and the 50% Fib retracement level of the upward move from the $2,272 swing low to the $2,606 high. A clear move below the $2,440 support might push the price toward the $2,350 support. Any more losses might send the price toward the $2,270 support level in the near term. The next key support sits at $2,220. 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 – $2,440 Major Resistance Level – $2,550 Source: https://www.newsbtc.com/analysis/eth/ethereum-price-unstoppable-2600/