TA: Ethereum Prints Bullish Pattern, Why Close Above $2,300 Is Crucial

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,282,440,612,886	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,282,440,612,886

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-966.23	-1.46%	65,293.89	65,293.88	65,293.89

Price Change

Price Change %

Current Price

Bid Price

Offer

-966.23

-1.46%

65,293.89

65,293.88

65,293.89

High Price	Low Price	Open Price	Prev. Close	52 Week Range
66,772.83	64,588.50	66,380.59	66,260.12	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

66,772.83

64,588.50

66,380.59

66,260.12

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	22:01:16	0.000728	65,293.89	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

22:01:16

0.000728

65,293.89

USD

Price x Volume	Volume	Base Symbol	Related Pairs
937,888,760.06	14,250.91	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

937,888,760.06

14,250.91

TA: Ethereum Prints Bullish Pattern, Why Close Above $2,300 Is Crucial

28/07/2021 6:08am

NEWSBTC

Ethereum remained supported near the $2,150 zone against the US Dollar. ETH price is rising, but a close above $2,300 is important for upside continuation. Ethereum found support near $2,150 and it started a fresh increase. The price is back above the $2,200 zone and the 100 hourly simple moving average. There was a break above a major contracting triangle with resistance near $2,260 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to gain strength if there is a close above the $2,300 and $2,320 levels. Ethereum Price Resumes Upward Move Ethereum remained well bid above the $2,150 and $2,120 support levels, similar to bitcoin. ETH price formed a base above $2,150 and it started a fresh increase. There was a break above the $2,200 resistance the 100 hourly simple moving average. Ether surpassed the 50% Fib retracement level of the downside correction from the $2,431 swing high to $2,151 low. There was also a break above a major contracting triangle with resistance near $2,260 on the hourly chart of ETH/USD. The pair is now trading near the $2,300 resistance. The first major resistance is near the $2,320 level. It is near the 61.8% Fib retracement level of the downside correction from the $2,431 swing high to $2,151 low. Source: ETHUSD on TradingView.com A close above the $2,320 level could set the pace for more gains. The next major barrier for the bulls could be near the $2,400 level, followed by $2,420. Any more upsides might call for a test of the $2,500 resistance zone in the near term. Dips Limited in ETH? If Ethereum fails to continue higher above $2,300 and $2,320, it could start a fresh decline. An initial support on the downside is near the $2,250 level. The first major support is near the $2,220 level and the 100 hourly simple moving average. The main support is now forming near the $2,200 level. Any more losses could lead the price back towards the $2,150 support zone. If the bulls fail to protect the $2,150 support, there are high chances of a larger decline. The next major support sits near the $2,050 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now well above the 50 level. Major Support Level – $2,200 Major Resistance Level – $2,320

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