Ethereum Price Recovery Trails Behind Bitcoin’s Surge in Crypto Rebound

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	452,101,219,178	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

452,101,219,178

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-2.63	-0.07%	3,756.80	3,756.81	3,757.03

Price Change

Price Change %

Current Price

Bid Price

Offer

-2.63

-0.07%

3,756.80

3,756.81

3,757.03

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,772.69	3,748.31	3,759.74	3,759.43	- - -

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,772.69

3,748.31

3,759.74

3,759.43

- - -

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	02:41:37	0.007381	3,756.80	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

02:41:37

0.007381

3,756.80

USD

Price x Volume	Volume	Base Symbol	Related Pairs
11,273,821.04	2,998.11	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

11,273,821.04

2,998.11

Ethereum Price Recovery Trails Behind Bitcoin’s Surge in Crypto Rebound

16/05/2024 4:38am

NEWSBTC

Ethereum price recovered above the $2,920 resistance. ETH is trailing Bitcoin and might struggle to continue higher above the $3,050 resistance. Ethereum started a recovery wave and even climbed above $3,000. The price is trading above $2,950 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2,900 on the hourly chart of ETH/USD (data feed via Kraken). The pair could now struggle to clear the $3,040 and $3,050 resistance levels. Ethereum Price Recovers Nearly 5% Ethereum price remained stable above the $2,860 support zone and started a fresh increase. ETH gained nearly 5% but less than Bitcoin. There was a break above a key bearish trend line with resistance at $2,900 on the hourly chart of ETH/USD. The bulls pumped the price above the $2,950 and $3,000 levels. A new weekly high was formed at $3,039 and the price is now consolidating gains. It tested the 23.6% Fib retracement level of the recent wave from the $2,860 swing low to the $3,039 high. Ethereum is still well above $2,950 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,040 level. The first major resistance is near the $3,050 level. An upside break above the $3,050 resistance might send the price higher. The next key resistance sits at $3,150, above which the price might gain traction and rise toward the $3,220 level. If there is a clear move above the $3,220 level, the price might rise and test the $3,350 resistance. Any more gains could send Ether toward the $3,500 resistance zone. Are Dips Supported In ETH? If Ethereum fails to clear the $3,050 resistance, it could start a downside correction. Initial support on the downside is near the $3,000 level. The first major support is near the $2,950 zone or the 50% Fib retracement level of the recent wave from the $2,860 swing low to the $3,039 high. The next support is near the $2,930 level. A clear move below the $2,930 support might push the price toward $2,900. Any more losses might send the price toward the $2,860 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 – $2,950 Major Resistance Level – $3,050

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ETHUSD Ethereum