Ethereum Price Dips, Then Rips: Exciting Trading Opportunities Ahead

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	410,601,190,456	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

410,601,190,456

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	20.35	0.60%	3,414.56	3,414.46	3,414.47

Price Change

Price Change %

Current Price

Bid Price

Offer

20.35

0.60%

3,414.56

3,414.46

3,414.47

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,425.44	3,384.24	3,391.03	3,394.21	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,425.44

3,384.24

3,391.03

3,394.21

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	03:19:44	0.006816	3,414.73	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

03:19:44

0.006816

3,414.73

USD

Price x Volume	Volume	Base Symbol	Related Pairs
17,390,487.49	5,108.88	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

17,390,487.49

5,108.88

Ethereum Price Dips, Then Rips: Exciting Trading Opportunities Ahead

24/05/2024 2:58am

NEWSBTC

Ethereum price dipped sharply after it rallied toward $3,940. ETH is now consolidating near $3,850 and is eyeing more upsides in the near term. Ethereum started a consolidation after it rallied toward the $3,940 resistance zone. The price is trading above $3,720 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,720 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up unless there is a break below the $3,620 support. Ethereum Price Eyes More Gains Ethereum price extended its increase above the $3,700 and $3,750 resistance levels. ETH outperformed Bitcoin and even climbed above the $3,880 level. A new weekly high was formed at $3,943 before there was a sharp decline. The price dived below the $3,800 and $3,750 levels. A low was formed at $3,530 level and the price recovered most losses. It is back above the 50% Fib retracement level of the downward move from the $3,943 swing high to the $3,530 low. Ethereum is now trading above $3,720 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $3,720 on the hourly chart of ETH/USD. Immediate resistance is near the $3,845 level or the 76.4% Fib retracement level of the downward move from the $3,943 swing high to the $3,530 low. The first major resistance is near the $3,880 level. An upside break above the $3,880 resistance might send the price higher. The next key resistance sits at $3,940, above which the price might gain traction and rise toward the $4,000 level. If there is a clear move above the $4,000 level, the price might rise and test the $4,080 resistance. Any more gains could send Ether toward the $4,200 resistance zone. Another Decline In ETH? If Ethereum fails to clear the $3,840 resistance, it could start another downside correction. Initial support on the downside is near the $3,720 level and the trend line. The next major support is near the $3,620 zone. A clear move below the $3,620 support might push the price toward $3,550. Any more losses might send the price toward the $3,390 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 still above the 50 zone. Major Support Level – $3,720 Major Resistance Level – $3,880

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ETHUSD Ethereum