TA: Ethereum Gearing For Another Lift-Off: Recovery Isn’t Over Yet

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	360,830,475,290	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

360,830,475,290

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-5.93	-0.20%	3,004.88	3,004.72	3,004.88

Price Change

Price Change %

Current Price

Bid Price

Offer

-5.93

-0.20%

3,004.88

3,004.72

3,004.88

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,020.26	2,974.74	3,010.91	3,010.81	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,020.26

2,974.74

3,010.91

3,010.81

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	02:35:24	0.011480	3,004.88	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

02:35:24

0.011480

3,004.88

USD

Price x Volume	Volume	Base Symbol	Related Pairs
23,888,002.37	7,967.32	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

23,888,002.37

7,967.32

TA: Ethereum Gearing For Another Lift-Off: Recovery Isn’t Over Yet

06/07/2022 6:28am

NEWSBTC

Ethereum is showing positive signs above the $1,100 zone against the US Dollar. ETH could rise further above the $1,170 resistance zone. Ethereum gained strength for a move above the $1,100 and $1,120 levels. The price is now trading above $1,120 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,120 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if there is a move above the $1,170 resistance zone. Ethereum Price Remains Supported Ethereum made another attempt to clear the $1,165 and $1,170 resistance levels. However, the bears were active near the $1,170 level. The recent high was formed near $1,169 before there was a downside correction. The price traded below the $1,150 and $1,130 support levels. Ether price traded below the 50% Fib retracement level of the upward move from the $1,076 swing low to $1,170 high. However, the bulls seem to be active near the $1,120 support zone. It also found support near the 61.8% Fib retracement level of the upward move from the $1,076 swing low to $1,170 high. Ether is now trading above $1,120 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $1,120 on the hourly chart of ETH/USD. An immediate resistance on the upside is near the $1,150 level. Source: ETHUSD on TradingView.com The next major resistance is near the $1,170 zone, above which the price may perhaps surpass the $1,200 resistance. In the stated case, the price could rise towards the $1,250 resistance. Any more gains might send the price towards the $1,320 zone. Fresh Decline in ETH? If ethereum fails to rise above the $1,170 resistance, it could start another downside correction. An initial support on the downside is near the $1,120 zone. The next major support is near the $1,100 zone and the 100 hourly simple moving average. A downside break below the $1,100 support may perhaps spark another decline. In this case, the price might drop towards the $1,070 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now well above the 50 level. Major Support Level – $1,100 Major Resistance Level – $1,170

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