{"id":473197,"date":"2021-10-07T05:08:33","date_gmt":"2021-10-07T05:08:33","guid":{"rendered":"https:\/\/wncen.com\/?p=473197"},"modified":"2024-06-11T13:59:16","modified_gmt":"2024-06-11T13:59:16","slug":"ethereum-primed-for-rally-3600","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-primed-for-rally-3600\/","title":{"rendered":"TA: Ethereum is Primed For a Rally And Only 1 Thing is Holding it Back"},"content":{"rendered":"
Ethereum extended its rally above $3,600 level against the US Dollar. ETH price is consolidating gains and it might surge again if it clears $3,575.<\/em><\/p>\n Ethereum extended its increase above the $3,500 resistance zone<\/a>. ETH was able to climb above the $3,550 level and the 100 hourly simple moving average.<\/p>\n During the increase, there was a break above a key bearish trend line with resistance near $3,475 on the hourly chart of ETH\/USD. The pair even cleared the $3,600 zone. A high is formed near $3,628 and it is now correcting gains.<\/p>\n Ether corrected lower below the $3,600 level. It traded below the 23.6% Fib retracement level of the recent wave from the $3,343 swing low to $3,628 high.<\/p>\n It is now consolidating near the $3,500 zone. An immediate resistance on the upside is near the $3,550 level. The first major resistance is near the $3,575 level. There is also a short-term bearish trend line forming with resistance near $3,575 on the same chart.<\/p>\n <\/a><\/p>\n The next major resistance is near the $3,600 level, above which the price might accelerate higher. In the stated case, the price may possibly rise towards the $3,700 level. The next key resistance could be $3,800.<\/p>\n If ethereum fails to continue higher above the $3,550 and $3,575 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $3,500 level.<\/p>\n\n
Ethereum Price Remains In Uptrend<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in ETH?<\/h2>\n