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Name Symbol Market Market Cap ($) Algorithm
Ethereum ETHUSD Crypto 157,367,990,951 Ethash
  Price Change Price Change % Current Price Bid Price Offer
  15.16 1.17% 1,309.08 1,309.07 1,309.19
High Price Low Price Open Price Prev. Close 52 Week Range
1,311.74 1,289.87 1,295.45 1,293.69 880.00 - 4,867.81
Exchange Last Trade Size Trade Price Currency
GDAX 01:39:45 0.602671 1,309.20 USD
Price x Volume Volume Base Symbol Related Pairs
25,859,617.38 19,831.00 ETH ETHEUR ETHGBP ETHBTC

TA: Ethereum Regains Strength, Showing Early Signs of Fresh Rally

05/07/2022 6:08am

NEWSBTC


Ethereum started a fresh increase after it remained stable near $1,000 against the US Dollar. ETH could rise further above the $1,150 resistance zone. Ethereum gained strength for a move above the $1,080 and $1,100 levels. The price is now trading above $1,100 and the 100 hourly simple moving average. There was a break above a key contracting triangle with resistance near $1,075 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if there is a move above the $1,150 resistance zone. Ethereum Price Gains Pace Ethereum remained stable above the $1,000 support and there was no downside break. As a result, a base was formed and the price started a decent increase. The price was able to clear a couple of key hurdles near the $1,070 zone. There was a break above a key contracting triangle with resistance near $1,075 on the hourly chart of ETH/USD. The price even tested the 61.8% Fib retracement level of the key drop from the $1,235 swing high to $997 low. Ether price traded as high as $1,158 and trading well above the 100 hourly simple moving average. It is also well above the 23.6% Fib retracement level of the recent increase from the $1,025 swing low to $1,158 high. Source: ETHUSD on TradingView.com An immediate resistance on the upside is near the $1,150 level. The next major resistance is near the $1,180 zone, above which the price may perhaps clear 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 $1,300 zone. Fresh Decline in ETH? If ethereum fails to rise above the $1,150 resistance, it could start a downside correction. An initial support on the downside is near the $1,125 zone. The next major support is near the $1,090 zone and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the recent increase from the $1,025 swing low to $1,158 high. A downside break below the $1,090 support may perhaps put pressure on the bulls in the near term. The next major support sits near $1,060. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now well above the 50 level. Major Support Level – $1,125 Major Resistance Level – $1,090

1 Year Ethereum Chart

1 Year Ethereum Chart

1 Month Ethereum Chart

1 Month Ethereum Chart
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