TA: Ethereum Reclaims $3K, Why ETH Could Rally To $3,400

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	375,581,448,235	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

375,581,448,235

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-1.28	-0.04%	3,135.07	3,134.84	3,135.04

Price Change

Price Change %

Current Price

Bid Price

Offer

-1.28

-0.04%

3,135.07

3,134.84

3,135.04

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	04:26:20	0.067820	3,135.07	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

04:26:20

0.067820

3,135.07

USD

Price x Volume	Volume	Base Symbol	Related Pairs
25,304,842.60	8,043.01	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

25,304,842.60

8,043.01

TA: Ethereum Reclaims $3K, Why ETH Could Rally To $3,400

23/09/2021 6:08am

NEWSBTC

Ethereum started a decent recovery and climbed above $3,000 against the US Dollar. ETH price could accelerate higher if it clears the $3,200 resistance zone. Ethereum started a decent upward move above the $3,000 and $3,050 levels. The price is now trading above $3,000 and near the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $2,950 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears $3,135 and $3,200 in the near term. Ethereum Price Is Rising Ethereum formed a support base above the $2,650 and started a steady recovery wave. ETH broke the $2,800 resistance zone and gained pace, similar to bitcoin. There was also a break above a major bearish trend line with resistance near $2,950 on the hourly chart of ETH/USD. The pair surpassed the 76.4% Fib retracement level of the key decline from the $3,105 swing high to $2,651 swing low. The price is now trading above $3,000 and near the 100 hourly simple moving average. An immediate resistance on the upside is near the $3,135 level. The first major resistance is near the $3,200 level. It is close to the 1.236 Fib extension level of the key decline from the $3,105 swing high to $2,651 swing low. Source: ETHUSD on TradingView.com A close above the $3,200 resistance could push the price further higher. The next major resistance might be near the $3,400 level. It represents the 1.618 Fib extension level of the key decline from the $3,105 swing high to $2,651 swing low. An intermediate resistance might be near the $3,320 level. More Losses in ETH? If ethereum fails to continue higher above the $3,135 and $3,200 resistance levels, it could start a downside correction. An initial support on the downside is near the $3,050 level. The next major support seems to be forming near the $3,000 level. A downside break below the $3,000 support zone could lead the price towards the $2,800 zone. The next major support is near the $2,650 level, below which ether price might decline towards the $2,500 region 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 now well above the 50 level. Major Support Level – $3,000 Major Resistance Level – $3,200

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