{"id":471755,"date":"2021-09-16T05:08:34","date_gmt":"2021-09-16T05:08:34","guid":{"rendered":"https:\/\/wncen.com\/?p=471755"},"modified":"2024-06-11T13:58:39","modified_gmt":"2024-06-11T13:58:39","slug":"ethereum-prints-bullish-breakout-3500","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-prints-bullish-breakout-3500\/","title":{"rendered":"TA: Ethereum Prints Bullish Breakout, Why Dips Turn Attractive"},"content":{"rendered":"
Ethereum was able to extend its rally above the $3,500 resistance zone against the US Dollar. ETH price is gaining pace and it might continue to rise towards the $3,800 level.<\/em><\/p>\n Ethereum started a fresh increase after it was able to clear the $3,450 resistance zone. ETH broke the $3,500 resistance zone and the 100 hourly simple moving average<\/a> to move further into a positive zone.<\/p>\n The upward move was such that the price even climbed above the $3,600 level. A high is formed near $3,620 and the price is now correcting gains, similar to bitcoin<\/a>. It traded below the $3,600 level. There was a break below the 23.6% Fib retracement level of the recent wave from the $3,361 swing low to $3,620 high.<\/p>\n There is also a major bullish trend line forming with support near $3,490 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $3,580 level.<\/p>\n <\/a><\/p>\n The first major resistance is near the $3,600. A clear break and close above the $3,600 level could push the price further higher. The next major resistance sits near $3,720. Any more gains could set the pace for a move towards the $3,800 level.<\/p>\n If ethereum fails to continue higher above the $3,580 and $3,600 resistance levels, it could start a downside correction. An initial support on the downside is near the $3,520 level.<\/p>\n The next major support seems to be forming near the $3,500 level and the trend line. The trend line is close to the 50% Fib retracement level of the recent wave from the $3,361 swing low to $3,620 high. Any more downsides might call for a test of the $3,450 support zone.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly losing pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is still above the 50 level.<\/p>\n Major Support Level \u2013 $3,500<\/p>\n Major Resistance Level \u2013 $3,600<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum was able to extend its rally above the $3,500 resistance zone against the US Dollar. ETH price is gaining pace and it might continue to rise towards the $3,800 level. Ethereum started a steady increase above the $3,500 and $3,550 resistance levels. The price is now trading above $3,500 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $3,490 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is correcting gains, but dips could be limited below $3,450 in the near term. Ethereum Price is Rising Ethereum started a fresh increase after it was able to clear the $3,450 resistance zone. ETH broke the $3,500 resistance zone and the 100 hourly simple moving average to move further into a positive zone. The upward move was such that the price even climbed above the $3,600 level. A high is formed near $3,620 and the price is now correcting gains, similar to bitcoin. It traded below the $3,600 level. There was a break below the 23.6% Fib retracement level of the recent wave from the $3,361 swing low to $3,620 high. There is also a major bullish trend line forming with support near $3,490 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $3,580 level. Source: ETHUSD on TradingView.com The first major resistance is near the $3,600. A clear break and close above the $3,600 level could push the price further higher. The next major resistance sits near $3,720. Any more gains could set the pace for a move towards the $3,800 level. Dips Limited in ETH? If ethereum fails to continue higher above the $3,580 and $3,600 resistance levels, it could start a downside correction. An initial support on the downside is near the $3,520 level. The next major support seems to be forming near the $3,500 level and the trend line. The trend line is close to the 50% Fib retracement level of the recent wave from the $3,361 swing low to $3,620 high. Any more downsides might call for a test of the $3,450 support zone. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is still above the 50 level. Major Support Level \u2013 $3,500 Major Resistance Level \u2013 $3,600<\/p>\n","protected":false},"author":67,"featured_media":464420,"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-471755","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 Rising<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in ETH?<\/h2>\n