{"id":453394,"date":"2020-12-31T06:08:35","date_gmt":"2020-12-31T06:08:35","guid":{"rendered":"https:\/\/wncen.com\/?p=453394"},"modified":"2024-06-11T14:12:22","modified_gmt":"2024-06-11T14:12:22","slug":"ethereum-eth-looks-set-to-clear-750","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-eth-looks-set-to-clear-750\/","title":{"rendered":"TA: Ethereum Prints Bullish Pattern, Why ETH Looks Set To Clear $750"},"content":{"rendered":"
Ethereum extended its rise and traded towards $760 before correcting lower against the US Dollar. ETH price is showing positive signs and it looks set to clear $750-$760.<\/em><\/p>\n There was an upside extension in bitcoin price<\/a> above $29,000, pushing Ethereum above the $740 resistance level. ETH price even spiked above the $750 level and settled nicely above the 100 hourly simple moving average.<\/p>\n It traded to a new yearly high at $758 before starting a downside correction. There was a break below the $750 level. Ether price even spiked below the 50% Fib retracement level of the recent increase<\/a> from the $715 swing low to $758 high.<\/p>\n <\/a><\/p>\n However, the bulls were able to defend the $730 zone. The price also remained stable above the 61.8% Fib retracement level of the recent increase from the $715 swing low to $758 high.<\/p>\n It seems like there is a major bullish breakout pattern forming with resistance near $760 on the hourly chart of ETH\/USD. The pair is currently consolidating above $730 and it could aim a fresh increase above the $750 level. A clear break above the $760 resistance level could open the doors for more upsides in the near term. In the stated case, the bulls are likely to aim a test of $800.<\/p>\n If ethereum fails to clear the $760 resistance zone, it could correct lower. An initial support on the downside is near the triangle lower trend line and $738.<\/p>\n A downside break below the triangle support trend line might lead ether price towards the $720 support zone. Any more losses may possibly call for a push towards the $705 level and the 100 hourly SMA in the near term.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is showing positive signs in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is currently close to the 50 level.<\/p>\n Major Support Level \u2013 $730<\/p>\n Major Resistance Level \u2013 $760<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum extended its rise and traded towards $760 before correcting lower against the US Dollar. ETH price is showing positive signs and it looks set to clear $750-$760. Ethereum is trading in a positive zone and it recently climbed to a new yearly high at $758. The price is now trading well above $730 and the 100 hourly simple moving average. There is a major bullish breakout pattern forming with resistance near $760 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to continue higher above the $750 and $760 resistance levels in the near term. Ethereum Price Eyes More Upsides There was an upside extension in bitcoin price above $29,000, pushing Ethereum above the $740 resistance level. ETH price even spiked above the $750 level and settled nicely above the 100 hourly simple moving average. It traded to a new yearly high at $758 before starting a downside correction. There was a break below the $750 level. Ether price even spiked below the 50% Fib retracement level of the recent increase from the $715 swing low to $758 high. Source: ETHUSD on TradingView.com However, the bulls were able to defend the $730 zone. The price also remained stable above the 61.8% Fib retracement level of the recent increase from the $715 swing low to $758 high. It seems like there is a major bullish breakout pattern forming with resistance near $760 on the hourly chart of ETH\/USD. The pair is currently consolidating above $730 and it could aim a fresh increase above the $750 level. A clear break above the $760 resistance level could open the doors for more upsides in the near term. In the stated case, the bulls are likely to aim a test of $800. Dips Supported in ETH? If ethereum fails to clear the $760 resistance zone, it could correct lower. An initial support on the downside is near the triangle lower trend line and $738. A downside break below the triangle support trend line might lead ether price towards the $720 support zone. Any more losses may possibly call for a push towards the $705 level and the 100 hourly SMA in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is showing positive signs in the bullish zone. Hourly RSI – The RSI for ETH\/USD is currently close to the 50 level. Major Support Level \u2013 $730 Major Resistance Level \u2013 $760<\/p>\n","protected":false},"author":67,"featured_media":453396,"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-453394","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 Eyes More Upsides<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in ETH?<\/h2>\n