{"id":473277,"date":"2021-10-08T05:38:53","date_gmt":"2021-10-08T05:38:53","guid":{"rendered":"https:\/\/wncen.com\/?p=473277"},"modified":"2024-06-11T13:59:17","modified_gmt":"2024-06-11T13:59:17","slug":"ethereum-lacks-momentum-3500","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-lacks-momentum-3500\/","title":{"rendered":"TA: Ethereum Lacks Momentum But This Level Could Trigger Fresh Rally"},"content":{"rendered":"
Ethereum extended its rally towards the $3,650 level against the US Dollar. ETH price is correcting gains, but dips are likely to remain limited below $3,500.<\/em><\/p>\n Ethereum remained in a positive zone above the $3,500 resistance zone. ETH was able to climb above the $3,600 level and the 100 hourly simple moving average<\/a>.<\/p>\n The price even spiked above the $3,600 level, but there was no upside continuation. Ether traded as high as $3,652 before it started a downside correction. There was a break below the $3,600 level. The price traded below the 23.6% Fib retracement level of the upward move from the $3,343 swing low to $3,652 high.<\/p>\n There was also a break below a contracting triangle with support near $3,580 on the hourly chart of ETH\/USD. The price is now consolidating near the $3,550 level. An immediate resistance on the upside is near the $3,580 level. The first major resistance<\/a> is near the $3,600 level.<\/p>\n <\/a><\/p>\n The next major resistance is near the $3,650 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. Any more gains could lead the price towards the $3,880 level.<\/p>\n If ethereum fails to continue higher above the $3,600 and $3,650 resistance levels, it could extend its decline. An initial support on the downside is near the $3,550 level.<\/p>\n The first key support is now forming near the $3,500 level and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the $3,343 swing low to $3,652 high. Any more losses could lead ether price towards the $3,450 support zone.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly moving in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n Major Support Level \u2013 $3,500<\/p>\n Major Resistance Level \u2013 $3,650<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum extended its rally towards the $3,650 level against the US Dollar. ETH price is correcting gains, but dips are likely to remain limited below $3,500. Ethereum started a fresh increase above the $3,600 resistance level. The price is now trading above $3,500 and the 100 hourly simple moving average. There was a break below a contracting triangle with support near $3,580 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a fresh increase as long as it is above the $3,500 level. Ethereum Price Remains Supported Ethereum remained in a positive zone above the $3,500 resistance zone. ETH was able to climb above the $3,600 level and the 100 hourly simple moving average. The price even spiked above the $3,600 level, but there was no upside continuation. Ether traded as high as $3,652 before it started a downside correction. There was a break below the $3,600 level. The price traded below the 23.6% Fib retracement level of the upward move from the $3,343 swing low to $3,652 high. There was also a break below a contracting triangle with support near $3,580 on the hourly chart of ETH\/USD. The price is now consolidating near the $3,550 level. An immediate resistance on the upside is near the $3,580 level. The first major resistance is near the $3,600 level. Source: ETHUSD on TradingView.com The next major resistance is near the $3,650 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. Any more gains could lead the price towards the $3,880 level. Dips Limited in ETH? If ethereum fails to continue higher above the $3,600 and $3,650 resistance levels, it could extend its decline. An initial support on the downside is near the $3,550 level. The first key support is now forming near the $3,500 level and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the $3,343 swing low to $3,652 high. Any more losses could lead ether price towards the $3,450 support zone. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly moving in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $3,500 Major Resistance Level \u2013 $3,650<\/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-473277","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 Remains Supported<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in ETH?<\/h2>\n