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Name Symbol Market Market Cap ($) Algorithm
Ethereum ETHUSD Crypto 235,721,672,885 Ethash
  Price Change Price Change % Current Price Bid Price Offer
  8.45 0.44% 1,949.90 1,949.81 1,949.88
High Price Low Price Open Price Prev. Close 52 Week Range
1,963.68 1,940.74 1,945.94 1,941.49 1,701.10 - 4,867.81
Exchange Last Trade Size Trade Price Currency
GDAX 03:49:37 0.000226 1,949.82 USD
Price x Volume Volume Base Symbol Related Pairs
29,062,142.88 14,897.60 ETH ETHEUR ETHGBP ETHBTC

Ethereum Holds Key Support, What Could Spark A Fresh Rally

03/12/2021 11:20am

NEWSBTC


Ethereum is facing resistance near the $4,600 zone against the US Dollar. ETH must stay above $4,450 to start a steady increase in the near term. Ethereum is consolidating above the key $4,450 support zone. The price is now trading above $4,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $4,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh rally as long as it is above the $4,450 level and the 100 hourly SMA. Ethereum Price Attempts Fresh Increase Ethereum declined below the $4,500 support, but the bulls defended the $4,450 zone. ETH seems to be forming a base above the $4,450 support level and is slowly rising. There was a break above the $4,500 level and the 100 hourly simple moving average. The price cleared the 23.6% Fib retracement level of the recent drop from the $4,780 swing high to $4,455 low. It is now consolidating above the $4,520 level. An initial resistance on the upside is near the $4,600 level. There is also a major bearish trend line forming with resistance near $4,600 on the hourly chart of ETH/USD. The first major resistance is near the $4,620 level. It is near the 50% Fib retracement level of the recent drop from the $4,780 swing high to $4,455 low. A clear move above the $4,600 and $4,620 levels could send the price further higher. Source: ETHUSD on TradingView.com The next major resistance is near the $4,705 level. Any more gains could lift the price towards the $4,800 resistance zone in the near term. Fresh Drop in ETH? If ethereum fails to start a fresh increase above the $4,620 level, it could start another decline. An initial support on the downside is near the $4,500 level. The first key support is now forming near the $4,450 level. A downside break below the $4,450 support zone and the recent low might spark a major decline. In the stated case, the price may perhaps decline towards the $4,320 level. The next major breakdown support is $4,250, below which the price could decline towards $4,000. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now well above the 50 level. Major Support Level – $4,450 Major Resistance Level – $4,620

1 Year Ethereum Chart

1 Year Ethereum Chart

1 Month Ethereum Chart

1 Month Ethereum Chart
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