TA: Ethereum Tops Near $1,200, Why Dips Could Be Attractive

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	349,836,939,002	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

349,836,939,002

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-56.69	-1.91%	2,912.65	2,912.60	2,912.80

Price Change

Price Change %

Current Price

Bid Price

Offer

-56.69

-1.91%

2,912.65

2,912.60

2,912.80

High Price	Low Price	Open Price	Prev. Close	52 Week Range
2,978.02	2,890.28	2,971.46	2,969.34	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

2,978.02

2,890.28

2,971.46

2,969.34

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	06:45:34	0.001719	2,912.65	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

06:45:34

0.001719

2,912.65

USD

Price x Volume	Volume	Base Symbol	Related Pairs
57,062,397.14	19,538.05	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

57,062,397.14

19,538.05

TA: Ethereum Tops Near $1,200, Why Dips Could Be Attractive

22/06/2022 6:28am

NEWSBTC

Ethereum started an upside correction above the $1,050 zone against the US Dollar. ETH traded close to the $1,200 resistance zone before it faced sellers. Ethereum started an upside correction above the $1,100 resistance zone. The price is now trading below $1,150 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $1,180 on the hourly chart of ETH/USD (data feed via Kraken). The pair could revisit the key $1,050 and $1,040 support levels in the near term. Ethereum Price Corrects Lower Ethereum was able to climb above the $1,050 resistance zone. ETH even recovered above the $1,120 resistance zone and settled above the 100 hourly simple moving average. Finally, the price surpassed the $1,150 resistance and traded close to the $1,200 level. A high was formed near $1,192 before the bears appeared. Ether price failed to continue higher and traded below the $1,150 level. There was a break below the 23.6% Fib retracement level of the upward move from the $880 swing low to $1,192 high. Besides, there was a break below a key bullish trend line with support near $1,180 on the hourly chart of ETH/USD. Ether price is now trading below $1,150 and the 100 hourly simple moving average. An immediate resistance is near the $1,120 level. The next major resistance is near the $1,150 zone. A clear move above the $1,150 resistance zone may perhaps push the price towards $1,200. Source: ETHUSD on TradingView.com The next major resistance is near the $1,250 level. Any more gains could start a move towards the $1,320 resistance in the near term. More Losses in ETH? If ethereum fails to rise above the $1,120 resistance, it could continue to move down. An initial support on the downside is near the $1,060 zone. The next major support is near the $1,050 zone. It is near the 50% Fib retracement level of the upward move from the $880 swing low to $1,192 high. Any more losses might call for a move towards the $1,000 support zone. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,050 Major Resistance Level – $1,150

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