{"id":458536,"date":"2021-03-12T05:08:44","date_gmt":"2021-03-12T05:08:44","guid":{"rendered":"https:\/\/wncen.com\/?p=458536"},"modified":"2024-06-11T14:13:55","modified_gmt":"2024-06-11T14:13:55","slug":"ethereum-forms-bullish-technical-pattern","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-forms-bullish-technical-pattern\/","title":{"rendered":"TA: Ethereum Forms Bullish Technical Pattern, Why Close Above $1,850 Is Critical"},"content":{"rendered":"
Ethereum is holding gains above $1,750 against the US Dollar. ETH price is likely setting up for a crucial upside break above the $1,850 and $1,880 resistance levels.<\/em><\/p>\n Ethereum corrected further lower below the $1,750 support zone, whereas bitcoin<\/a> extended its rise. However, ETH remained well bid above $1,720 and $1,700 levels.<\/p>\n A low is formed near $1,724 and the price is currently rising steadily. There was a fresh move above the $1,800 resistance level. A high is formed near $1,845 and the price is currently consolidating gains. It corrected lower below the 23.6% Fib retracement level of the upward move from the $1,724 swing low to $1,845 high.<\/p>\n Ether is now well above $1,750 and the 100 hourly simple moving average<\/a>. \u00a0An initial support is near the $1,785 level. It is close to the 50% Fib retracement level of the upward move from the $1,724 swing low to $1,845 high.<\/p>\n <\/a><\/p>\n There is also a crucial breakout pattern forming with resistance near $1,840 on the hourly chart of ETH\/USD. If ether price clears the triangle resistance and $1,850, there could be a strong increase. In the stated case, the price could rise towards the $1,900 and $1,920 resistance levels. The next major stop for the bulls could be $2,000.<\/p>\n If Ethereum fails to continue higher above the $1,840 and $1,850 resistance levels, it could correct further lower. The first key support is near the $1,785 level.<\/p>\n The main support is now forming near the $1,750 level and the triangle lower trend line. If there is a downside break below the $1,750 support, ether price might decline towards the $1,725 level.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly gaining pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n Major Support Level \u2013 $1,750<\/p>\n Major Resistance Level \u2013 $1,850<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum is holding gains above $1,750 against the US Dollar. ETH price is likely setting up for a crucial upside break above the $1,850 and $1,880 resistance levels. Ethereum is showing a few positive signs and it is trading nicely above $1,750. The price is now well above $1,750 and the 100 hourly simple moving average. There is a crucial breakout pattern forming with resistance near $1,840 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to start a strong rally if there is a close above the $1,850 resistance. Ethereum Price is Showing Positive Signs Ethereum corrected further lower below the $1,750 support zone, whereas bitcoin extended its rise. However, ETH remained well bid above $1,720 and $1,700 levels. A low is formed near $1,724 and the price is currently rising steadily. There was a fresh move above the $1,800 resistance level. A high is formed near $1,845 and the price is currently consolidating gains. It corrected lower below the 23.6% Fib retracement level of the upward move from the $1,724 swing low to $1,845 high. Ether is now well above $1,750 and the 100 hourly simple moving average. \u00a0An initial support is near the $1,785 level. It is close to the 50% Fib retracement level of the upward move from the $1,724 swing low to $1,845 high. Source: ETHUSD on TradingView.com There is also a crucial breakout pattern forming with resistance near $1,840 on the hourly chart of ETH\/USD. If ether price clears the triangle resistance and $1,850, there could be a strong increase. In the stated case, the price could rise towards the $1,900 and $1,920 resistance levels. The next major stop for the bulls could be $2,000. Downside Break in ETH? If Ethereum fails to continue higher above the $1,840 and $1,850 resistance levels, it could correct further lower. The first key support is near the $1,785 level. The main support is now forming near the $1,750 level and the triangle lower trend line. If there is a downside break below the $1,750 support, ether price might decline towards the $1,725 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly gaining pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $1,750 Major Resistance Level \u2013 $1,850<\/p>\n","protected":false},"author":67,"featured_media":458538,"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-458536","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 is Showing Positive Signs<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Downside Break in ETH?<\/h2>\n