{"id":460638,"date":"2021-04-07T05:08:04","date_gmt":"2021-04-07T05:08:04","guid":{"rendered":"https:\/\/wncen.com\/?p=460638"},"modified":"2024-06-11T14:14:38","modified_gmt":"2024-06-11T14:14:38","slug":"ethereum-consolidates-above-2050","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-consolidates-above-2050\/","title":{"rendered":"TA: Ethereum Consolidates Above $2,050, Here\u2019s Why Bulls Remain In Control"},"content":{"rendered":"
Ethereum corrected lower below $2,100 against the US Dollar, but stayed above $2,050. ETH price is likely to start a fresh increase as long as it is above the $2,000 support.<\/em><\/p>\n After setting a new all-time high<\/a> near $2,150, Ethereum started a downside correction. ETH traded below the $2,120 and $2,100 support levels.<\/p>\n However, the bulls were active near the $2,050 support zone and the 100 hourly simple moving average<\/a>. A low was formed near $2,050 before the price climbed higher. The recent swing high was near $2,132 and the low was formed near $2,083.<\/p>\n Ether is now rising and trading above $2,100. There was a break above the 50% Fib retracement level of the recent decline from the $2,132 high to $2,083 low.<\/p>\n It seems like there is a major contracting triangle forming with resistance near $2,120 on the hourly chart of ETH\/USD. The triangle resistance is close to the 61.8% Fib retracement level of the recent decline from the $2,132 high to $2,083 low.<\/p>\n <\/a><\/p>\n A successful break above the triangle resistance could open the doors for a fresh increase above $2,150. In the stated case, the price is likely to rally towards $2,200 or $2,250. The next key barrier for the bulls could be $2,320.<\/p>\n If Ethereum fails to clear the $2,120 resistance, it could correct lower. The first major support is now forming near the $2,080 level and the triangle lower trend line.<\/p>\n The main support is still near the $2,050 level and the 100 hourly simple moving average. Any more losses might call for a test of the $2,000 support, below which the price might test the $1,920 level in the coming sessions.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly gaining momentum in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now just above the 50 level.<\/p>\n Major Support Level \u2013 $2,050<\/p>\n Major Resistance Level \u2013 $2,120<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum corrected lower below $2,100 against the US Dollar, but stayed above $2,050. ETH price is likely to start a fresh increase as long as it is above the $2,000 support. Ethereum is showing signs of a fresh increase above $2,120 and $2,150. The price is now trading nicely above the $2,080 support and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $2,120 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to continue higher above the $2,120 and $2,150 levels in the near term. Ethereum Price Remains In Uptrend After setting a new all-time high near $2,150, Ethereum started a downside correction. ETH traded below the $2,120 and $2,100 support levels. However, the bulls were active near the $2,050 support zone and the 100 hourly simple moving average. A low was formed near $2,050 before the price climbed higher. The recent swing high was near $2,132 and the low was formed near $2,083. Ether is now rising and trading above $2,100. There was a break above the 50% Fib retracement level of the recent decline from the $2,132 high to $2,083 low. It seems like there is a major contracting triangle forming with resistance near $2,120 on the hourly chart of ETH\/USD. The triangle resistance is close to the 61.8% Fib retracement level of the recent decline from the $2,132 high to $2,083 low. Source: ETHUSD on TradingView.com A successful break above the triangle resistance could open the doors for a fresh increase above $2,150. In the stated case, the price is likely to rally towards $2,200 or $2,250. The next key barrier for the bulls could be $2,320. Downside Breaks in ETH? If Ethereum fails to clear the $2,120 resistance, it could correct lower. The first major support is now forming near the $2,080 level and the triangle lower trend line. The main support is still near the $2,050 level and the 100 hourly simple moving average. Any more losses might call for a test of the $2,000 support, below which the price might test the $1,920 level in the coming sessions. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now just above the 50 level. Major Support Level \u2013 $2,050 Major Resistance Level \u2013 $2,120<\/p>\n","protected":false},"author":67,"featured_media":460640,"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-460638","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 In Uptrend<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Downside Breaks in ETH?<\/h2>\n