Ethereum Price on The Move: Bulls Push for a Fresh Upside

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	2,015,724,898,936	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

2,015,724,898,936

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	616.74	0.61%	101,950.00	101,949.99	101,950.00

Price Change

Price Change %

Current Price

Bid Price

Offer

616.74

0.61%

101,950.00

101,949.99

101,950.00

High Price	Low Price	Open Price	Prev. Close	52 Week Range
102,968.78	101,275.60	101,318.32	101,333.26	41,787.35 - 109,356.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

102,968.78

101,275.60

101,318.32

101,333.26

41,787.35 - 109,356.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	14:21:11	0.007425	101,940.54	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

14:21:11

0.007425

101,940.54

USD

Price x Volume	Volume	Base Symbol	Related Pairs
365,734,044.16	3,579.32	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

365,734,044.16

3,579.32

Ethereum Price on The Move: Bulls Push for a Fresh Upside

17/01/2025 3:28am

NEWSBTC

Ethereum price started a fresh recovery wave above the $3,250 zone. ETH is holding gains and might aim for a fresh increase above the $3,480 zone. Ethereum started a decent recovery wave above the $3,240 zone. The price is trading above $3,300 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $3,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $3,400 resistance level. Ethereum Price Stays Above The Key Support Ethereum price started a decent upward move above the $3,240 level but upsides were limited compared to Bitcoin. ETH was able to clear the $3,300 and $3,320 resistance levels to move into a short-term positive zone. The pair even surged above the $3,350 and $3,400 levels. Finally, it tested the $3,480 zone. A high was formed at $3,473 and recently the price corrected some gains. There was a drop below the 23.6% Fib retracement level of the upward move from the $2,912 swing low to the $3,473 high. Ethereum price is now trading above $3,280 and the 100-hourly Simple Moving Average. It is again rising and trading above $3,300. There was a break above a connecting bearish trend line with resistance at $3,320 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $3,400 level. The first major resistance is near the $3,420 level. The main resistance is now forming near $3,480. A clear move above the $3,480 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,720 in the near term. Downside Correction In ETH? If Ethereum fails to clear the $3,400 resistance, it could start another decline. Initial support on the downside is near the $3,280 level. The first major support sits near the $3,200 or the 50% Fib retracement level of the upward move from the $2,912 swing low to the $3,473 high. A clear move below the $3,200 support might push the price toward the $3,120 support. Any more losses might send the price toward the $3,050 support level in the near term. The next key support sits at $3,000. 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 – $3,280 Major Resistance Level – $3,400

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