By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
BlockscrollBlockscroll
Notification Show More
Latest News
Zuckerberg's Pursuit of Metaverse Reality Costs $13.7B
Zuckerberg’s Pursuit of Metaverse Reality Costs $13.7B
Press Release
According to JPMorgan Survey: 72% of Institutional Investors Avoid Crypto
According to JPMorgan Survey: 72% of Institutional Investors Avoid Crypto
Crypto
The Indian Government Announces New Crypto Tax Penalties
The Indian Government Announces New Crypto Tax Penalties
Crypto
Woah! Dogecoin Whales Made 523 Transactions as DOGE Soars 34%!
Woah! Dogecoin Whales Made 523 Transactions as DOGE Soars 34%!
Crypto
More than 300,000 Changsha Merchants Adopted Digital Yuan
Crypto
Aa
  • Bitcoin
  • Blockchain
  • Ethereum
  • Contact Us
Reading: Ethereum Remains Supported, What Could Spark Fresh Rally
Share
BlockscrollBlockscroll
Aa
Search
Have an existing account? Sign In
Follow US
  • Bitcoin
  • Blockchain
  • Ethereum
  • Contact Us
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Blockscroll > Ethereum > Ethereum Remains Supported, What Could Spark Fresh Rally
Ethereum

Ethereum Remains Supported, What Could Spark Fresh Rally

Teresa Bach
Last updated: 2022/11/19 at 11:55 AM
By Teresa Bach 1 year ago
Share
3 Min Read
SHARE

Ethereum traded above $4,400 before correcting lower against the US Dollar. ETH must stay above $4,150 to start a fresh increase in the near term.

Ethereum started a fresh upward move above the $4,200 and $4,250 resistance levels.
The price is now trading above $4,200 and the 100 hourly simple moving average.
There was a break above a key contracting triangle with resistance near $4,310 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a fresh rally if it stays above $4,200 and the 100 hourly SMA.

Ethereum Price Remains Supported
Ethereum gained pace above the $4,000 and $4,150 resistance levels. ETH even broke the $4,250 level and settled well above the 100 hourly simple moving average.
The price climbed above $4,400 and traded as high as $4,426. It is now correcting gains and traded below the $4,350 level. Ether price declined below the 23.6% Fib retracement level of the recent increase from the $3,901 swing low to $4,426 high.
However, the bulls were active near the $4,250 level and the 100 hourly simple moving average. It is now rising and trading above $4,300.
There was a break above a key contracting triangle with resistance near $4,310 on the hourly chart of ETH/USD. An initial resistance on the upside is near the $4,350 level. The first major resistance is near the $4,400 level. The next major hurdle is near the $4,520 level.

Source: ETHUSD on TradingView.com
A clear move above the $4,420 could send the price further higher. In the stated case, the price could drift towards the $4,550 level in the near term.
Dips Limited in ETH?
If ethereum fails to start a fresh increase above the $4,350 level, it could extend its downside correction. An initial support on the downside is near the $4,300 level. The key support is now forming near the $4,250 level and the 100 hourly simple moving average.
If there is a clear break below the $4,250 support, the price could extend losses. The next major breakdown support is $4,150 or the 50% Fib retracement level of the recent increase from the $3,901 swing low to $4,426 high, below which the price could decline towards $4,000.
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 – $4,250
Major Resistance Level – $4,400

You Might Also Like

Bitcoin Soars to Record Heights with its Best January in Last 10 Years

Crypto Price Update: Bitcoin and Ethereum Price Drops and Meme Coins Fall

$4.6 Billion in Ethereum Up in Flames 

Signature Bank, Binance’s Fiat Partner, Sets a Minimum Transaction Limit

Crypto Price Updates

Teresa Bach December 8, 2021
Share this Article
Facebook Twitter Email Print
Share
Teresa Bach
By Teresa Bach
Teresa is a crypto writer. She is interested in cryptocurrencies, technology, and in particular the subject of online security. An open supporter of freedom of speech, privacy, and equality for all. On a personal level, he likes to stay socially active, loves playing snooker, cricket, enjoys seafood, and loves listening to folk music.
Previous Article Ubisoft Launches Their First NFTs On Tezos
Next Article Bitcoin Why It Is Vulnerable To Below 48k
BlockscrollBlockscroll
Follow US

© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

[mc4wp_form]
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?