{"id":450113,"date":"2020-11-18T05:18:30","date_gmt":"2020-11-18T05:18:30","guid":{"rendered":"https:\/\/wncen.com\/?p=450113"},"modified":"2024-06-11T14:08:31","modified_gmt":"2024-06-11T14:08:31","slug":"ethereum-likely-to-smash-500","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-likely-to-smash-500\/","title":{"rendered":"TA: Ethereum Likely To Smash $500, As Bulls Take Over The Crypto Market"},"content":{"rendered":"
Ethereum started a strong increase above $470, similar to bitcoin above $17.5K against the US Dollar. ETH price is trading above $490 and it is likely to surge above $500.<\/em><\/p>\n Ethereum gained bullish momentum<\/a> after there was a close above $470 level. ETH price broke the $480 and $485 resistance levels. There was a strong rise in bitcoin and it even cleared $18k, resulting in a push above $490 in ether.<\/p>\n The price traded as high as $495 and it is above the 100 hourly simple moving average. Ether is currently consolidating gains, with an immediate support near $491. It is close to the 23.6% Fib retracement level of the recent rally from the $476 swing low $495 high.<\/p>\n The next major support for ethereum is near the $486 level. It is a multi-touch zone and coincides with the 50% Fib retracement level of the recent rally from the $476 swing low $495 high.<\/p>\n <\/a><\/p>\n More importantly, there is a connecting bullish trend line forming with support near $482 on the hourly chart of ETH\/USD. On the upside, the $495 level is an initial resistance. The main hurdle is now at $500. A clear break above the $500 resistance zone could spark another 5% rally. The next stop for the bulls may perhaps be $525 or even $540 in the coming sessions.<\/p>\n\n
Ethereum Price is Approaching $500<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Downsides Limited in ETH?<\/h2>\n