{"id":452257,"date":"2020-12-15T05:28:45","date_gmt":"2020-12-15T05:28:45","guid":{"rendered":"https:\/\/wncen.com\/?p=452257"},"modified":"2024-06-11T14:12:00","modified_gmt":"2024-06-11T14:12:00","slug":"ethereum-eth-could-surge-past-600","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-eth-could-surge-past-600\/","title":{"rendered":"TA: Ethereum Rising Steadily, Why ETH Could Surge Past $600"},"content":{"rendered":"
Ethereum remained in a positive zone above $580 against the US Dollar, similar to bitcoin<\/a>. ETH price is likely to accelerate higher once it clears the $595 and $600 resistance levels.<\/em><\/p>\n After testing the $595 zone, Ethereum corrected lower. ETH traded below the $580 support level, but the bulls were able to protect the $575 support zone.<\/p>\n A swing low was formed near the $576 level before the price started a fresh increase<\/a>. There was a strong upward move above the $580 and $585 levels. There was also a break above a key bearish trend line with resistance near $586 on the hourly chart of ETH\/USD.<\/p>\n Ether price climbed above the $590 level and even spiked above $595. A new monthly high is formed near $596 and the price is currently consolidating gains. An initial support is near the $590 level or the 23.6% Fib retracement level of the recent increase from the $576 swing low to $596 high.<\/p>\n <\/a><\/p>\n Moreover, there is a crucial bullish trend line forming with support near $585 on the same chart. The trend line is close to the 50% Fib retracement level of the recent increase from the $576 swing low to $596 high.<\/p>\n On the upside, the price is clearly facing a strong resistance near the $595 level. The current price action suggests that ether could make another attempt to clear $595. The next major resistance is still near the $600 level. A close above the $600 level could accelerate gains.<\/p>\n If ethereum fails to clear the $595 and $596 resistance levels, it could start a downside correction. The first key support zone is near the $585 level and the trend line.<\/p>\n A downside break below the trend line support and $585 could push the price towards the $575 support zone. The 100 hourly simple moving average is also waiting near the $575 zone to provide support.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is currently correcting lower towards the 55 level.<\/p>\n Major Support Level \u2013 $585<\/p>\n Major Resistance Level \u2013 $595<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum remained in a positive zone above $580 against the US Dollar, similar to bitcoin. ETH price is likely to accelerate higher once it clears the $595 and $600 resistance levels. Ethereum found support near the $575 level and started a fresh increase. The price is now trading above the $590 zone and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $586 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could correct lower, but it is likely to attempt a crucial upside break above $600. Ethereum Price Gaining Momentum After testing the $595 zone, Ethereum corrected lower. ETH traded below the $580 support level, but the bulls were able to protect the $575 support zone. A swing low was formed near the $576 level before the price started a fresh increase. There was a strong upward move above the $580 and $585 levels. There was also a break above a key bearish trend line with resistance near $586 on the hourly chart of ETH\/USD. Ether price climbed above the $590 level and even spiked above $595. A new monthly high is formed near $596 and the price is currently consolidating gains. An initial support is near the $590 level or the 23.6% Fib retracement level of the recent increase from the $576 swing low to $596 high. Source: ETHUSD on TradingView.com Moreover, there is a crucial bullish trend line forming with support near $585 on the same chart. The trend line is close to the 50% Fib retracement level of the recent increase from the $576 swing low to $596 high. On the upside, the price is clearly facing a strong resistance near the $595 level. The current price action suggests that ether could make another attempt to clear $595. The next major resistance is still near the $600 level. A close above the $600 level could accelerate gains. Dips Limited in ETH? If ethereum fails to clear the $595 and $596 resistance levels, it could start a downside correction. The first key support zone is near the $585 level and the trend line. A downside break below the trend line support and $585 could push the price towards the $575 support zone. The 100 hourly simple moving average is also waiting near the $575 zone to provide support. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is currently correcting lower towards the 55 level. Major Support Level \u2013 $585 Major Resistance Level \u2013 $595<\/p>\n","protected":false},"author":67,"featured_media":452259,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1946,8686,78803],"class_list":["post-452257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price Gaining Momentum<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in ETH?<\/h2>\n