{"id":463054,"date":"2021-05-05T05:08:15","date_gmt":"2021-05-05T05:08:15","guid":{"rendered":"https:\/\/wncen.com\/?p=463054"},"modified":"2024-06-11T13:55:29","modified_gmt":"2024-06-11T13:55:29","slug":"ethereum-corrects-gains-3200","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-corrects-gains-3200\/","title":{"rendered":"TA: Ethereum Corrects Gains, Here\u2019s What Could Trigger Fresh Rally"},"content":{"rendered":"
Ethereum extended its rally and it traded to a new all-time high above $3,520 against the US Dollar. ETH price is correcting gains, but it is likely to start a fresh rally above $3,400.<\/em><\/p>\n Ethereum remained in a strong uptrend above the $3,200 level. ETH outpaced bitcoin<\/a> and it climbed above the $3,450 resistance zone to move further into a positive zone.<\/p>\n It traded to a new all-time high near $3,528 and it settled nicely above the 100 hourly simple moving average. Ether price is now correcting gains and it traded below the $3,400 support. There was also a spike below the $3,250 level, but the bulls defended the $3,200 support<\/a>.<\/p>\n A low is formed near $3,211 and the price is now consolidating. It recovered above the $3,300 and $3,350 levels. There was a break above the 50% Fib retracement level of the recent decline from the $3,437 high to $3,211 low.<\/p>\n <\/a><\/p>\n However, the price is struggling to gain pace above $3,380. It failed to clear the 76.4% Fib retracement level of the recent decline from the $3,437 high to $3,211 low. There is also a crucial breakout pattern forming with support near $3,260 on the hourly chart of ETH\/USD.<\/p>\n A successful break above the triangle resistance and $3,380 could start a fresh rally. The next major hurdle for the bulls could be $3,450 or $3,500.<\/p>\n If Ethereum fails to climb above $3,380, it could decline further. An immediate support on the downside is near the $3,260 level and the triangle lower trend line.<\/p>\n If there is a downside break below the triangle trend line, the price might even trade below $3,200. In the stated case, ether price may possibly decline towards the $3,000 support.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly losing momentum in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is just below the 50 level.<\/p>\n Major Support Level \u2013 $3,260<\/p>\n Major Resistance Level \u2013 $3,380<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum extended its rally and it traded to a new all-time high above $3,520 against the US Dollar. ETH price is correcting gains, but it is likely to start a fresh rally above $3,400. Ethereum extended its rally above $3,500 and it traded to a new all-time high near $3,525. The price is now trading well above $3,200 and the 100 hourly simple moving average. There is a crucial breakout pattern forming with support near $3,260 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could either rally again above $3,400 or it might dive to test the $3,000 support. Ethereum Price Signaling Fresh Rally Ethereum remained in a strong uptrend above the $3,200 level. ETH outpaced bitcoin and it climbed above the $3,450 resistance zone to move further into a positive zone. It traded to a new all-time high near $3,528 and it settled nicely above the 100 hourly simple moving average. Ether price is now correcting gains and it traded below the $3,400 support. There was also a spike below the $3,250 level, but the bulls defended the $3,200 support. A low is formed near $3,211 and the price is now consolidating. It recovered above the $3,300 and $3,350 levels. There was a break above the 50% Fib retracement level of the recent decline from the $3,437 high to $3,211 low. Source: ETHUSD on TradingView.com However, the price is struggling to gain pace above $3,380. It failed to clear the 76.4% Fib retracement level of the recent decline from the $3,437 high to $3,211 low. There is also a crucial breakout pattern forming with support near $3,260 on the hourly chart of ETH\/USD. A successful break above the triangle resistance and $3,380 could start a fresh rally. The next major hurdle for the bulls could be $3,450 or $3,500. More Upsides in ETH? If Ethereum fails to climb above $3,380, it could decline further. An immediate support on the downside is near the $3,260 level and the triangle lower trend line. If there is a downside break below the triangle trend line, the price might even trade below $3,200. In the stated case, ether price may possibly decline towards the $3,000 support. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is just below the 50 level. Major Support Level \u2013 $3,260 Major Resistance Level \u2013 $3,380<\/p>\n","protected":false},"author":67,"featured_media":463056,"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-463054","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 Signaling Fresh Rally<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Upsides in ETH?<\/h2>\n