TA: Ethereum Dips But Here’s Why ETH Could Start Fresh Increase

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	376,750,615,445	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

376,750,615,445

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-1.83	-0.06%	3,134.52	3,134.33	3,134.34

Price Change

Price Change %

Current Price

Bid Price

Offer

-1.83

-0.06%

3,134.52

3,134.33

3,134.34

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,165.86	3,124.31	3,141.18	3,136.35	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,165.86

3,124.31

3,141.18

3,136.35

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	04:45:47	0.349712	3,134.45	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

04:45:47

0.349712

3,134.45

USD

Price x Volume	Volume	Base Symbol	Related Pairs
26,325,595.29	8,368.40	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

26,325,595.29

8,368.40

TA: Ethereum Dips But Here’s Why ETH Could Start Fresh Increase

24/05/2022 6:08am

NEWSBTC

Ethereum failed to clear the $2,085 resistance and declined against the US Dollar. ETH must stay above $1,920 to start a fresh increase in the near term. Ethereum failed to clear the $2,085 and $2,100 resistance levels. The price is now trading below $2,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $2,000 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down towards the main $1,920 support zone. Ethereum Price Trades Below $2K Ethereum attempted to clear the $2,085 and $2,100 resistance levels. However, ETH failed to gain strength and formed a short-term top near the $2,085 level. There was a bearish reaction below the $2,050 support level. Besides, there was a break below a key bullish trend line with support near $2,000 on the hourly chart of ETH/USD. There was a move below the 50% Fib retracement level of the upward move from the $1,920 swing low to $2,085 high. Ether price is now trading below $2,000 and the 100 hourly simple moving average. It even tested the 76.4% Fib retracement level of the upward move from the $1,920 swing low to $2,085 high. The price is now consolidating near the $1,980 level. The first major resistance is near the $2,000 level and the 100 hourly simple moving average. The main resistance is now forming near the $2,085 level. A close above the $2,085 level could open the doors for a decent increase. Source: ETHUSD on TradingView.com In the stated case, ether price might rise towards the $2,150 resistance. Any more gains may perhaps send it towards the key $2,200 resistance zone. More Losses in ETH? If ethereum fails to recover above the $2,000 resistance, it could continue to move down. An initial support on the downside is near the $1,960 zone. The next major support is near the $1,920 level. A close below the $1,920 level might restart downtrend. In the stated case, the price could dive towards the $1,900 level. The next major support might be near the $1,800 and $1,780 levels in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,920 Major Resistance Level – $2,085

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ETHUSD Ethereum