[ADVERT]
Name Symbol Market Market Cap ($) Algorithm
Ethereum ETHUSD Crypto 472,961,510,674 Ethash
  Price Change Price Change % Current Price Bid Price Offer
  -154.60 -3.74% 3,976.23 3,976.17 3,976.55
High Price Low Price Open Price Prev. Close 52 Week Range
4,314.63 3,940.00 4,129.42 4,130.83 200.50 - 4,384.43
Exchange Last Trade Size Trade Price Currency
LQID 11:29:42 0.258445 3,977.40 USD
Price x Volume Volume Base Symbol Related Pairs
594,220,143.24 142,858.74 ETH ETHEUR ETHGBP ETHBTC

TA: Ethereum Consolidates, What Could Spark A Fresh Rally

17/09/2021 6:08am

NEWSBTC


Ethereum is consolidating gains near the $3,580 resistance zone against the US Dollar. ETH price could start a fresh rally if it clears the $600 level. Ethereum remained in a positive zone above the $3,500 and $3,550 resistance levels. The price is now trading above $3,520 and the 100 hourly simple moving average. There is a key breakout pattern forming with resistance near $3,580 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another increase if it clears the $580 and $600 levels in the near term. Ethereum Price is Eyeing More Gains Ethereum was able to settle above the main $3,500 resistance zone. ETH even extended its rise above the $3,600 level and settled well above the 100 hourly simple moving average. The price traded as high as $3,674 before there was a downside correction. Ether declined below the $3,600 and $3,550 support levels. However, downsides were limited below $3,500. A low was formed near $3,485 and the price is now rising. It cleared the $3,550 resistance level, and it is now trading above $3,520 and the 100 hourly simple moving average. The price is now testing the 50% Fib retracement level of the recent decline from the $3,674 high to $3,485 low. An immediate resistance on the upside is near the $3,580 level. There is also a key breakout pattern forming with resistance near $3,580 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com The main resistance is near the $3,600. It is close to the 61.8% Fib retracement level of the recent decline from the $3,674 high to $3,485 low. A clear break and close above the $3,600 level could start another increase. The next major resistance sits near $3,675. Any more gains could set the pace for a move towards the $3,750 level. Dips Limited in ETH? If ethereum fails to continue higher above the $3,580 and $3,600 resistance levels, it could start another downside correction. An initial support on the downside is near the $3,540 level. The next major support seems to be forming near the $3,520 level and the triangle lower trend line. A downside break below the triangle support could lead ether towards the $3,450 support zone in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is still above the 50 level. Major Support Level – $3,520 Major Resistance Level – $3,600

1 Year Ethereum Chart

1 Year Ethereum Chart

1 Month Ethereum Chart

1 Month Ethereum Chart
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