Ethereum Price Bull Run Could Extend By 5%, Why ETH Could Rally To $2,500
05 Dezember 2023 - 5:55AM
NEWSBTC
Ethereum price is gaining pace above the $2,200 resistance. ETH is
up over 8% and might continue to rise toward the $2,500 resistance
in the coming days. Ethereum is gaining pace and recently surpassed
the $2,250 resistance. The price is trading above $2,200 and the
100-hourly Simple Moving Average. There is a key bullish trend line
forming with support near $2,225 on the hourly chart of ETH/USD
(data feed via Kraken). The pair could extend its rally if it
clears the $2,275 resistance zone. Ethereum Price Follows Bitcoin
Ethereum price started a strong increase above $2,000, like
Bitcoin. ETH cleared many hurdles near $2,120 to enter a positive
zone. The price even surged above the $2,200 level to set the tone
for a larger increase. A new multi-month high was formed near
$2,275 and the price is now consolidating gains. There was a minor
move below the 23.6% Fib retracement level of the upward move from
the $2,148 swing low to the $2,275 high. However, Ethereum is still
trading above $2,200 and the 100-hourly Simple Moving Average.
There is also a key bullish trend line forming with support near
$2,225 on the hourly chart of ETH/USD. On the upside, the price is
facing resistance near the $2,250 zone. Source: ETHUSD on
TradingView.com The next key resistance is near the $2,275 level. A
clear move above the $2,275 zone could send the price toward the
$2,320 level. The next resistance sits at $2,350. Any more gains
could start a wave toward the $2,500 level. Are Dips Limited in
ETH? If Ethereum fails to clear the $2,250 resistance, it could
start a downside correction. Initial support on the downside is
near the $2,220 level and the trend line. The next key support is
$2,175 or the 76.4% Fib retracement level of the upward move from
the $2,148 swing low to the $2,275 high. The main support is now
near $2,150 or the 100-hourly Simple Moving Average. A downside
break below $2,150 might start a steady decline. The key support is
now at $2,080, below which there is a risk of a move toward the
$2,020 level in the near term. 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 level. Major Support
Level – $2,175 Major Resistance Level – $2,250
Ethereum (COIN:ETHUSD)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Ethereum (COIN:ETHUSD)
Historical Stock Chart
Von Jul 2023 bis Jul 2024