TA: Ethereum Trims Gains, Why ETH Could Restart Its Rally

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,243,622,989,032	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,243,622,989,032

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-844.70	-1.32%	63,154.38	63,155.74	63,158.48

Price Change

Price Change %

Current Price

Bid Price

Offer

-844.70

-1.32%

63,154.38

63,155.74

63,158.48

High Price	Low Price	Open Price	Prev. Close	52 Week Range
65,523.44	62,704.48	64,053.81	63,999.08	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

65,523.44

62,704.48

64,053.81

63,999.08

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	00:40:10	0.001971	63,154.38	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

00:40:10

0.001971

63,154.38

USD

Price x Volume	Volume	Base Symbol	Related Pairs
905,782,868.83	14,201.47	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

905,782,868.83

14,201.47

TA: Ethereum Trims Gains, Why ETH Could Restart Its Rally

27/07/2021 6:08am

NEWSBTC

Ethereum failed to stay above $2,400 and started a major correction against the US Dollar. ETH price is now approaching the key $2,100 and $2,080 support levels Ethereum failed to gain pace above $2,400 and it started a downside correction. The price is now trading below $2,200 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $2,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to find a strong buying interest near the $2,100 and $2,000 support levels. Ethereum Price Corrects Lower Ethereum started a major upward move above the $2,000 resistance, similar to bitcoin. ETH price surged above the $2,250 resistance and the 100 hourly simple moving average. However, the price faced a strong selling interest near the $2,400 and $2,450 levels. A high was formed near $2,431 before the price started a downside correction. There was a major decline below the $2,320 and $2,250 support levels. The price even broke the 61.8% Fib retracement level of the upward move from the $2,110 swing low to $2,431 high. Besides, there was a break below a major bullish trend line with support near $2,200 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com The price is now trading below $2,200 and the 100 hourly simple moving average. On the upside, an initial resistance is near the $2,200 level. The next major barrier for the bulls could be near the $2,250 level, followed by $2,300. A close above $2,300 could start a fresh rally in the near term. Dips Limited in ETH? If Ethereum fails to continue higher above $2,250 and $2,300, it could extend its decline. An initial support on the downside is near the $2,110 level. The first major support is near the $2,080 level. The main support is now forming near the $2,040 level. It is near the 1.236 Fib extension level of the upward move from the $2,110 swing low to $2,431 high. Any more losses could set the pace for a drop towards the $2,000 support zone in the near term. The next major support sits near the $1,910 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is now well below the 50 level. Major Support Level – $2,080 Major Resistance Level – $2,250

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