Ethereum Price Resumes Its Climb: Is a Bigger Rally on The Way?
06 November 2024 - 4:18AM
NEWSBTC
Ethereum price found support near $2,350 and started a fresh
increase. ETH is rising and might aim for a move above the $2,580
resistance. Ethereum started a fresh surge above the $2,500
resistance zone. The price is trading above $2,500 and the
100-hourly Simple Moving Average. There was a break above a key
bearish trend line with resistance at $2,460 on the hourly chart of
ETH/USD (data feed via Kraken). The pair could gain bullish
momentum if it settles above $2,580 and $2,620. Ethereum Price
Restarts Increase Ethereum price found support near $2,350 and
started a fresh increase like Bitcoin. ETH was able to climb above
the $2,420 and $2,450 resistance levels to move into a positive
zone. It cleared the 50% Fib retracement level of the downward move
from the $2,583 swing high to the $2,357 low. Besides, there was a
break above a key bearish trend line with resistance at $2,460 on
the hourly chart of ETH/USD. Ethereum price is now trading above
$2,500 and the 100-hourly Simple Moving Average. It is also above
the 76.4% Fib retracement level of the downward move from the
$2,583 swing high to the $2,357 low. On the upside, the price seems
to be facing hurdles near the $2,580 level. The first major
resistance is near the $2,620 level. The main resistance is now
forming near $2,650. A clear move above the $2,650 resistance might
send the price toward the $2,720 resistance. An upside break above
the $2,720 resistance might call for more gains in the coming
sessions. In the stated case, Ether could rise toward the $2,750
resistance zone. Another Drop In ETH? If Ethereum fails to clear
the $2,620 resistance, it could start another decline. Initial
support on the downside is near the $2,520 level. The first major
support sits near the $2,500 zone. A clear move below the $2,500
support might push the price toward $2,450. Any more losses might
send the price toward the $2,320 support level in the near term.
The next key support sits at $2,350. 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 – $2,450 Major Resistance Level – $2,620
Ethereum (COIN:ETHUSD)
Historical Stock Chart
Von Nov 2024 bis Dez 2024
Ethereum (COIN:ETHUSD)
Historical Stock Chart
Von Dez 2023 bis Dez 2024