TA: Ethereum Gearing For Another Lift-Off to $3,500: Recovery Isn’t Over Yet

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	10,674,935,297	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

10,674,935,297

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.001491	1.24%	0.121331	0.121255	0.121267

Price Change

Price Change %

Current Price

Bid Price

Offer

0.001491

1.24%

0.121331

0.121255

0.121267

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.121331	0.119682	0.11984	0.11984	0.064588 - 0.144371

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.121331

0.119682

0.11984

0.064588 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	12:48:50	678.02	0.121331	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

12:48:50

678.02

0.121331

USD

Price x Volume	Volume	Base Symbol	Related Pairs
53,554.30	444,437.08	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

53,554.30

444,437.08

TA: Ethereum Gearing For Another Lift-Off to $3,500: Recovery Isn’t Over Yet

14/01/2022 5:28am

NEWSBTC

Ethereum started a downside correction from $3,400 against the US Dollar. ETH price is holding the $3,250 support and eyes a fresh increase above the $3,320 resistance. Ethereum started a downside correction from the $3,400 resistance zone. The price is trading above $3,250 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $3,300 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $3,250 support zone. Ethereum Price Corrects Lower Ethereum started a strong increase above the $3,320 resistance zone. ETH even broke the $3,400 resistance zone and the 100 hourly simple moving average, but there was no momentum. A high was formed near $3,412 and the price is now correcting gains. Ether price declined below the $3,320 support. There was a break below the 23.6% Fib retracement level of the key increase from the $2,931 swing low to $3,412 high. Besides, there was a break below a major bullish trend line with support near $3,300 on the hourly chart of ETH/USD. It is now trading above $3,250 and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com On the upside, an immediate resistance is near the $3,300 level. The first major resistance is near the $3,320 level. A clear move above the $3,320 level might start another increase in the near term. The next major resistance is near the $3,400 level, above which ether price could test $3,480. Any more gains could send the price towards the $3,550 level in the near term. Dips Limited in ETH? If ethereum fails to start a fresh increase above the $3,320 level, it could continue to move down. An initial support on the downside is near the $3,250 level. The first key support is now forming near the $3,175 level. It is near the 50% Fib retracement level of the key increase from the $2,931 swing low to $3,412 high. A downside break below the $3,175 level might push the price towards the $3,115 zone. Any more losses could lead the price towards $3,000. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is above the 50 level. Major Support Level – $3,250 Major Resistance Level – $3,320

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