TA: Why Ethereum (ETH) Remains Attractive On Dips Towards $2,400

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	390,846,710,559	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

390,846,710,559

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	125.31	4.00%	3,254.63	3,254.54	3,254.55

Price Change

Price Change %

Current Price

Bid Price

Offer

125.31

4.00%

3,254.63

3,254.54

3,254.55

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,281.92	3,068.81	3,131.51	3,129.32	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,281.92

3,068.81

3,131.51

3,129.32

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	00:40:34	0.163675	3,254.62	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

00:40:34

0.163675

3,254.62

USD

Price x Volume	Volume	Base Symbol	Related Pairs
215,526,579.31	67,921.67	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

215,526,579.31

67,921.67

TA: Why Ethereum (ETH) Remains Attractive On Dips Towards $2,400

03/08/2021 6:08am

NEWSBTC

Ethereum remained well bid above the $2,500 zone against the US Dollar. ETH price must stay above $2,400 for upside continuation in the near term. Ethereum struggled to clear the $2,650 resistance and corrected lower. The price is still trading above $2,500 and the 100 hourly simple moving average. There is a crucial bullish trend line forming with support near $2,460 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to start a fresh increase unless there is a clear break below $2,400 in the near term. Ethereum Price is Holding Key Support Ethereum started a fresh increase above the $2,600 level, outpacing bitcoin. ETH price even broke the $2,650 resistance, but there was no real bullish momentum. A high was formed near $2,666 before the price corrected lower. It broke the $2,600 support level, but it is still well above $2,500 and the 100 hourly simple moving average. There was a break below the 50% Fib retracement level of the upward move from the $2,510 swing low to $2,666 high. The price is now testing the $2,550 support zone. It is near the 76.4% Fib retracement level of the upward move from the $2,510 swing low to $2,666 high. There is also a crucial bullish trend line forming with support near $2,460 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com On the upside, the first key resistance is near the $2,600 level. The main resistance is now forming near the $2,650 level. A clear break and close above $2,650 might start another steady increase. In the stated case, the price could revisit the $2,700 level. More Losses in ETH? If ethereum fails to continue higher above $2,620, it could extend its decline. An immediate support on the downside is near the $2,520 level. The next major support is near the $2,510 level and the 100 hourly simple moving average. The main support is now forming near the trend line and $2,450. A clear downside break below the $2,450 support zone could lead the price towards the $2,350 support. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is now close to the 40 level. Major Support Level – $2,450 Major Resistance Level – $2,650

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