Follow our Twitter , Discord and Telegram for instant breaking cryptocurrency news.

Ethereum (ETH) Could Start A New Rally, What Are The Critical Levels?

Ethereum is above the $ 1,300 support against the US Dollar. 

4 7,085

Ethereum (ETH) Could Start A New Rally, What Are The Critical Levels?

Ethereum is above the $ 1,300 support against the US Dollar. ETH price is likely to gain momentum above the $ 1,400 and $ 1,450 resistance levels in the near term. According to the technical analysis of NewsBTC’s Aayush Jindal:

  • ETH experienced a correction against the US Dollar after the price surged as high as $ 1,438.
  • The price is consolidating above the $ 1,320 support level and the 100 simple moving average (4 hours).
  • There is a key bullish trend line formed with support near $ 1,295 on the 4-hour chart of ETH / USD ( based on Kraken data).
  • The pair is likely to further accelerate its uptrend after breaking the $ 1,400 and $ 1,430 resistance levels.

Ethereum (ETH) Gives A New Rally Signal

Last week, Bitcoin and Ethereum saw a steady increase of over $ 1,300 and $ 35,000 respectively against the US Dollar. While BTC lost all its gains, ETH continued to trade well above the $ 1,300 support zone.

The recent high was around $ 1,438 before the price dropped. There was a break below the $ 1,380 support level. Ethereum price even traded below the 23.6% Fib retracement level of the price move from $ 1,207 to $ 1,438.

ethereum eth can start a new rally what are the critical levels 1

However, the price is consolidating above the $ 1,320 support level and the 100 simple moving average (4-hours). There is also a key bullish trend line formed with support near $ 1,295 on the 4-hour chart of ETH / USD. The trendline is near the 50% Fib retracement level of the bullish move from $ 1,207 to $ 1,438.

On the upside, the price is facing hurdles near the $ 1,400 and $ 1,430 levels. A successful break above the $ 1,400 and $ 1,430 resistance levels could open the doors for a sharp increase in the coming sessions. In the stated situation, the price could test the $ 1,500 resistance zone.

Will Ethereum (ETH) Fall?

If Ethereum fails to clear the $ 1,400 and $ 1,430 resistance levels, it could begin a downside correction. The first significant support on the downside is near the $ 1,300 level and the trend line.

A downside break below the trendline support would likely require testing of the $ 1,260 support level and the 100 simple moving average (4 hours). Further losses could push the ETH price into the $ 1,200 support zone.

Technical Indicators

  • 4-hour MACD – The MACD for ETH / USD is slowly losing momentum in the bullish zone.
  • 4-hour RSI – The RSI for ETH / USD is just above the 50 level.
  • Major Support Level: $ 1,300
  • Major Resistance Level: $ 1,430

Follow our Twitter , Discord and Telegram for instant breaking cryptocurrency news.

4 Comments
  1. tonero1710 says

    technical analysis at its best. i hope it rallies cos i got a little Etherum am holding…

  2. […] ( ETH ), önceki üç olayda 1.400 dolarlık direncin üzerine çıktı, ancak boğalar, daha yüksek […]

  3. […] ETH lockdown was necessary to launch the first phase of the ETH 2.0 upgrade, which has been expected by the community for several years. It is expected to greatly […]

  4. […] an all-time high. Some cryptocurrency commentators attributed the increase to the start of Ethereum futures at CME on February […]

Leave A Reply

Your email address will not be published.