TA: Ethereum Forms Bullish Pattern But This Level Is Crucial

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	10,431,979,023	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

10,431,979,023

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.000339	-0.28%	0.118666	0.118666	0.118667

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.000339

-0.28%

0.118666

0.118667

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.120706	0.117943	0.119005	0.119005	0.064588 - 0.144371

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.120706

0.117943

0.119005

0.064588 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	18:06:05	13.61	0.118666	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

18:06:05

13.61

0.118666

USD

Price x Volume	Volume	Base Symbol	Related Pairs
356,109.39	2,982,871.49	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

356,109.39

2,982,871.49

TA: Ethereum Forms Bullish Pattern But This Level Is Crucial

25/05/2022 6:28am

NEWSBTC

Ethereum extended decline and tested the $1,920 support against the US Dollar. ETH is rising and might revisit the key $2,085 resistance zone. Ethereum remained stable above the key $1,920 support zone. The price is now trading above $2,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,980 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise further, but the $2,085 zone presents a major hurdle. Ethereum Price Recovers Above $2K Ethereum extended decline after it broke the $1,950 support and the 100 hourly simple moving average. However, the bulls took a strong stand near the $1,920 support. A low was formed near $1,911 and the price started a recovery wave. There was a clear move above the $1,950 and $1,960 resistance levels. Ether price climbed above the 50% Fib retracement level of the downward move from the $2,083 swing high to $1,911 low. Besides, there was a break above a major bearish trend line with resistance near $1,980 on the hourly chart of ETH/USD. Ether price is now trading above $2,000 and the 100 hourly simple moving average. The price is now facing resistance near the $2,020 level. It is near the 61.8% Fib retracement level of the downward move from the $2,083 swing high to $1,911 low. The next major resistance is near the $2,040 level. The main resistance is now forming near the $2,085 level. A close above the $2,085 level could open the doors for a steady increase. Source: ETHUSD on TradingView.com In the stated case, ether price could rally towards the $2,200 resistance. Any more gains may perhaps send it towards the key $2,250 resistance zone. Fresh Decline in ETH? If ethereum fails to recover above the $2,400 resistance, it could start a fresh decline. An initial support on the downside is near the $1,995 zone and the 100 hourly SMA. The next major support is near the $1,970 level. A downside break below the $1,970 level might call for another test of the main $1,920 support. Any more losses may perhaps clear the path for a sharp decline to $1,800. 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 above the 50 level. Major Support Level – $1,970 Major Resistance Level – $2,085

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