{"id":464595,"date":"2021-05-27T05:08:16","date_gmt":"2021-05-27T05:08:16","guid":{"rendered":"https:\/\/wncen.com\/?p=464595"},"modified":"2024-06-11T09:54:33","modified_gmt":"2024-06-11T09:54:33","slug":"ethereum-100-sma-ikey-fresh-increase","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-100-sma-ikey-fresh-increase\/","title":{"rendered":"TA: Ethereum Corrects Gains, Here\u2019s Why 100 SMA Is The Key for Fresh Increase"},"content":{"rendered":"<p><em>Ethereum failed to continue above $2,900 against the US Dollar. ETH price corrected gains and it is now trading near a major support at $2,640 and the 100 hourly SMA.<\/em><\/p>\n<ul>\n<li>Ethereum broke the $2,850 resistance, but it failed to gain pace above $2,900.<\/li>\n<li>The price is now testing the $2,650 support and the 100 hourly simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support at $2,750 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair must stay above the 100 hourly SMA to avoid a drop towards the $2,380 support.<\/li>\n<\/ul>\n<h2>Ethereum Price Reaches Key Support<\/h2>\n<p>Ethereum <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-eth-could-test-3k\/\" target=\"_blank\" rel=\"noopener \">extended its recovery wave<\/a> above the $2,800 and $2,850 resistance levels. ETH even pushed above the $2,900 level and settled nicely above the 100 hourly simple moving average.<\/p>\n<p>However, it failed to gain pace above $2,900. The bulls made two attempts to push the price above the $2,920 level, but they failed. The recent high was formed near $2,912 before the price started a downside correction.<\/p>\n<p>Ether corrected lower below the $2,850 and $2,800 support levels. There was a break below a key bullish trend line with support at $2,750 on the hourly chart of ETH\/USD. The pair even declined below the 23.6% Fib retracement level of the upward move from the $2,370 swing low to $2,912 high.<\/p>\n<p>Ether price is now testing the $2,650 support and the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-eth-closes-above-100-sma\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. It is close to the 50% Fib retracement level of the upward move from the $2,370 swing low to $2,912 high.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Ethereum-14.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-464596\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Ethereum-14.png?resize=1828%2C867\" alt=\"Ethereum Price\" width=\"1828\" height=\"867\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Ethereum-14.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Ethereum-14.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Ethereum-14.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Ethereum-14.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Ethereum-14.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Ethereum-14.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Ethereum-14.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/pre>\n<p>On the upside, an immediate resistance is near the broken trend line at $2,800. The next major resistance is near the $2,900 level, above which the price could attempt a move towards the $3,000 resistance zone.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If Ethereum fails to continue higher above the $2,800 and $2,900 resistance levels, it could extend its decline. An initial support on the downside is near the $2,650 zone and the 100 hourly SMA.<\/p>\n<p>A downside break below the 100 hourly SMA might spark a larger decline. The next key support is near the $2,380 level. Any more losses could lead the price towards the $2,185 support zone.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is slowly losing pace in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is currently below the 50 level.<\/p>\n<p>Major Support Level \u2013 $2,650<\/p>\n<p>Major Resistance Level \u2013 $2,800<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum failed to continue above $2,900 against the US Dollar. ETH price corrected gains and it is now trading near a major support at $2,640 and the 100 hourly SMA. Ethereum broke the $2,850 resistance, but it failed to gain pace above $2,900. The price is now testing the $2,650 support and the 100 hourly simple moving average. There was a break below a key bullish trend line with support at $2,750 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must stay above the 100 hourly SMA to avoid a drop towards the $2,380 support. Ethereum Price Reaches Key Support Ethereum extended its recovery wave above the $2,800 and $2,850 resistance levels. ETH even pushed above the $2,900 level and settled nicely above the 100 hourly simple moving average. However, it failed to gain pace above $2,900. The bulls made two attempts to push the price above the $2,920 level, but they failed. The recent high was formed near $2,912 before the price started a downside correction. Ether corrected lower below the $2,850 and $2,800 support levels. There was a break below a key bullish trend line with support at $2,750 on the hourly chart of ETH\/USD. The pair even declined below the 23.6% Fib retracement level of the upward move from the $2,370 swing low to $2,912 high. Ether price is now testing the $2,650 support and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the $2,370 swing low to $2,912 high. Source: ETHUSD on TradingView.com On the upside, an immediate resistance is near the broken trend line at $2,800. The next major resistance is near the $2,900 level, above which the price could attempt a move towards the $3,000 resistance zone. More Losses in ETH? If Ethereum fails to continue higher above the $2,800 and $2,900 resistance levels, it could extend its decline. An initial support on the downside is near the $2,650 zone and the 100 hourly SMA. A downside break below the 100 hourly SMA might spark a larger decline. The next key support is near the $2,380 level. Any more losses could lead the price towards the $2,185 support zone. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing pace in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is currently below the 50 level. Major Support Level \u2013 $2,650 Major Resistance Level \u2013 $2,800<\/p>\n","protected":false},"author":67,"featured_media":464597,"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-464595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>TA: Ethereum Corrects Gains, Here\u2019s Why 100 SMA Is The Key for Fresh Increase<\/title>\n<meta name=\"description\" content=\"Ethereum failed to continue above $2,900 against the US Dollar. 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