{"id":461424,"date":"2021-04-16T05:28:11","date_gmt":"2021-04-16T05:28:11","guid":{"rendered":"https:\/\/wncen.com\/?p=461424"},"modified":"2024-06-11T13:55:01","modified_gmt":"2024-06-11T13:55:01","slug":"ethereum-100-sma-could-spark-fresh-increase","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-100-sma-could-spark-fresh-increase\/","title":{"rendered":"TA: Ethereum Corrects Rally, But 100 SMA Could Spark Fresh Increase"},"content":{"rendered":"
Ethereum climbed further above the $2,500 level against the US Dollar. ETH price is correcting gains, but it is likely to remain stable near $2,350 and the 100 hourly SMA.<\/em><\/p>\n Ethereum followed a bullish path<\/a> above the $2,400 level and extended its gains. ETH even broke the $2,500 level and traded to a new all-time high at $2,488.<\/p>\n Recently, there was a downside correction below the $2,500 level, similar to bitcoin<\/a>. The bears were able to push the price below the $2,480 support level. The price even broke the 50% Fib retracement level of the upward wave from the $2,406 swing low to $2,548 high.<\/p>\n The price is now approaching the $2,420 support level. It is testing the 76.4% Fib retracement level of the upward wave from the $2,406 swing low to $2,548 high.<\/p>\n <\/a><\/p>\n There is also a key rising channel forming with support near $2,420 on the hourly chart of ETH\/USD. If there is a downside break below the channel support, the price could decline towards the $2,350 support. The 100 hourly simple moving average is also near the $2,350 level to provide support.<\/p>\n Any more losses might call for a move towards the $2,300 level in the near term. The next major support is near the $2,200 level (the last major breakout zone).<\/p>\n If Ethereum stays above the channel support, it could start a fresh increase above $2,450. An initial resistance on the upside is near the $2,500 level.<\/p>\n A successful break above the $2,500 level could initiate a move towards the $2,550 level. Any more gains are likely to set the pace for a test of $2,600 or even $2,660 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 bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now just below the 50 level.<\/p>\n Major Support Level \u2013 $2,350<\/p>\n Major Resistance Level \u2013 $2,500<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum climbed further above the $2,500 level against the US Dollar. ETH price is correcting gains, but it is likely to remain stable near $2,350 and the 100 hourly SMA. Ethereum gained pace above $2,500 and it traded to a new all-time high near USD 2,548. The price is now trading well above $2,400 and the 100 hourly simple moving average. There is a key rising channel forming with support near $2,420 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to resume its rise as long as it is above the $2,350 support zone. Ethereum Price Is Correcting Gains Ethereum followed a bullish path above the $2,400 level and extended its gains. ETH even broke the $2,500 level and traded to a new all-time high at $2,488. Recently, there was a downside correction below the $2,500 level, similar to bitcoin. The bears were able to push the price below the $2,480 support level. The price even broke the 50% Fib retracement level of the upward wave from the $2,406 swing low to $2,548 high. The price is now approaching the $2,420 support level. It is testing the 76.4% Fib retracement level of the upward wave from the $2,406 swing low to $2,548 high. Source: ETHUSD on TradingView.com There is also a key rising channel forming with support near $2,420 on the hourly chart of ETH\/USD. If there is a downside break below the channel support, the price could decline towards the $2,350 support. The 100 hourly simple moving average is also near the $2,350 level to provide support. Any more losses might call for a move towards the $2,300 level in the near term. The next major support is near the $2,200 level (the last major breakout zone). Fresh Increase in ETH? If Ethereum stays above the channel support, it could start a fresh increase above $2,450. An initial resistance on the upside is near the $2,500 level. A successful break above the $2,500 level could initiate a move towards the $2,550 level. Any more gains are likely to set the pace for a test of $2,600 or even $2,660 in the coming sessions. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now just below the 50 level. Major Support Level \u2013 $2,350 Major Resistance Level \u2013 $2,500<\/p>\n","protected":false},"author":67,"featured_media":461426,"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-461424","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 Is Correcting Gains<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase in ETH?<\/h2>\n