Ethereum Soars 20%: ETH Hype Escalates on ETF Rumors

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	421,731,710,364	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

421,731,710,364

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	38.58	1.11%	3,507.98	3,507.79	3,507.91

Price Change

Price Change %

Current Price

Bid Price

Offer

38.58

1.11%

3,507.98

3,507.79

3,507.91

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,529.83	3,456.20	3,474.96	3,469.40	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,529.83

3,456.20

3,474.96

3,469.40

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	14:08:17	0.002446	3,507.98	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

14:08:17

0.002446

3,507.98

USD

Price x Volume	Volume	Base Symbol	Related Pairs
145,889,667.45	41,670.24	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

145,889,667.45

41,670.24

Ethereum Soars 20%: ETH Hype Escalates on ETF Rumors

21/05/2024 2:58am

NEWSBTC

Ethereum price rallied over 20% amid rise in hopes of ETH ETF. ETH broke many hurdles and even broke the $3,500 resistance zone. Ethereum started a fresh surge and cleared the $3,500 resistance zone. The price is trading above $3,600 and the 100-hourly Simple Moving Average. There is a short-term rising channel forming with support at $3,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up unless there is a close below the $3,400 support. Ethereum Price Starts Fresh Uptrend Ethereum price formed a base and rallied above the $3,200 resistance zone. ETH ETF hopes increased with the recent SEC move. Trades took advantage of the recent move, resulting in a strong upward move above the $3,350 resistance zone. It outperformed Bitcoin and gained over 20%. There was a strong move above the $3,500 resistance zone. It traded to a new weekly high at $3,721 and is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $3,067 swing low to the $3,721 high. Ethereum is now trading above $3,600 and the 100-hourly Simple Moving Average. There is also a short-term rising channel forming with support at $3,640 on the hourly chart of ETH/USD. Immediate resistance is near the $3,700 level. The first major resistance is near the $3,720 level. An upside break above the $3,720 resistance might send the price higher. The next key resistance sits at $3,800, above which the price might gain traction and rise toward the $3,880 level. If there is a clear move above the $3,880 level, the price might rise and test the $3,950 resistance. Any more gains could send Ether toward the $4,000 resistance zone. Are Dips Attractive In ETH? If Ethereum fails to clear the $3,720 resistance, it could start a downside correction. Initial support on the downside is near the $3,640 level and the channel zone. The next major support is near the $3,600 zone. A clear move below the $3,600 support might push the price toward $3,500. Any more losses might send the price toward the $3,400 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now correcting from the 85 zone. Major Support Level – $3,600 Major Resistance Level – $3,720

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ETHUSD Ethereum