TA: Ethereum Outperforms Bitcoin, Why ETH Could Rally To New ATH
27 Oktober 2021 - 7:58AM
NEWSBTC
Ethereum started a fresh increase above $4,175 against the US
Dollar. ETH could gain pace if there is a clear break above $4,300
in the near term. Ethereum was able to climb above the $4,175 and
$4,200 resistance levels. The price is now trading above $4,200 and
the 100 hourly simple moving average. There is a major rising
channel forming with support near $4,175 on the hourly chart of
ETH/USD (data feed via Kraken). The pair could extend its increase
if it clears the $4,300 and $4,320 resistance levels. Ethereum
Price Could Rise Further Ethereum started a fresh increase after it
settled above the $4,050 level. ETH was able to clear the $4,750
resistance zone and the 100 hourly simple moving average. Ether
price even traded above the $4,250 resistance zone. A high was
formed near $4,313 and the price is now consolidating gains. It
traded below the $4,300 level. An immediate support is near the
$4,260 level. The stated level is near the 23.6% Fib retracement
level of the upward wave from the $4,091 swing low to $4,313 high.
There is also a major rising channel forming with support near
$4,175 on the hourly chart of ETH/USD. An immediate resistance on
the upside is near the $4,300 level. Source: ETHUSD on
TradingView.com The next major resistance is near the $4,320 level,
above which the price might start a fresh rally. In the stated
case, the price might rise towards the $4,400 level. Any more gains
could lead the price towards the $4,550 level. Dips Supported in
ETH? If ethereum fails to continue higher above the $4,300 and
$4,320 resistance levels, it could start a fresh downside
correction. An initial support on the downside is near the $4,260
level. The first major support is near the $4,200 level. It is
close to the 50% Fib retracement level of the upward wave from the
$4,091 swing low to $4,313 high. The main support is near $4,175
and the channel trend line. Any more downsides could lead the price
towards the $4,050 support. The next major support for the bulls is
near the $4,000 level. Technical Indicators Hourly MACD – The MACD
for ETH/USD is gaining pace in the bullish zone. Hourly RSI – The
RSI for ETH/USD is now well above the 50 level. Major Support Level
– $4,175 Major Resistance Level – $4,320
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