Ethereum Price Bounces Back Yet Lacks Strong Bullish Drive

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,217,602,420,711	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,217,602,420,711

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	12.82	0.02%	62,040.34	62,037.02	62,040.33

Price Change

Price Change %

Current Price

Bid Price

Offer

12.82

0.02%

62,040.34

62,037.02

62,040.33

High Price	Low Price	Open Price	Prev. Close	52 Week Range
62,197.01	61,754.00	62,056.99	62,026.89	24,900.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

62,197.01

61,754.00

62,056.99

62,026.89

24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	02:33:37	0.000423	62,039.71	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

02:33:37

0.000423

62,039.71

USD

Price x Volume	Volume	Base Symbol	Related Pairs
24,033,077.62	387.37	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

24,033,077.62

387.37

Ethereum Price Bounces Back Yet Lacks Strong Bullish Drive

01/07/2024 4:48am

NEWSBTC

Ethereum price is attempting a fresh increase above the $3,450 resistance zone. ETH must settle above $3,550 to continue higher in the near term. Ethereum slowly moved higher above the $3,450 zone. The price is trading above $3,450 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $3,415 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $3,520 and $3,550 resistance levels to continue higher. Ethereum Price Faces Resistance Ethereum price started a decent recovery wave above the $3,400 level. ETH even cleared the $3,420 level to move into a short-term positive zone like Bitcoin. There was a break above a key bearish trend line with resistance near $3,415 on the hourly chart of ETH/USD. The pair even cleared the $3,500 resistance zone. A high was formed at $3,516 and the price is now consolidating gains. There was a move below the $3,500 level, but the price remained above the 23.6% Fib retracement level of the upward move from the $3,350 swing low to the $3,516 high. Ethereum is trading above $3,450 and the 100-hourly Simple Moving Average. The current price action is positive and calling for more upsides. On the upside, the price is facing resistance near the $3,500 level. The first major resistance is near the $3,520 level. The next major hurdle is near the $3,550 level. A close above the $3,550 level might send Ether toward the $3,650 resistance. The next key resistance is near $3,720. An upside break above the $3,720 resistance might send the price higher. Any more gains could send Ether toward the $3,880 resistance zone. Are Dips Limited In ETH? If Ethereum fails to clear the $3,550 resistance, it could start a downside correction. Initial support on the downside is near $3,480. The first major support sits near the $3,440 zone and the 50% Fib retracement level of the upward move from the $3,350 swing low to the $3,516 high. A clear move below the $3,420 support might push the price toward $3,350. Any more losses might send the price toward the $3,320 level in the near term. 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 – $3,420 Major Resistance Level – $3,550

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

BTCUSD Bitcoin