{"id":468551,"date":"2021-08-03T05:08:22","date_gmt":"2021-08-03T05:08:22","guid":{"rendered":"https:\/\/wncen.com\/?p=468551"},"modified":"2021-08-03T03:30:35","modified_gmt":"2021-08-03T03:30:35","slug":"ethereum-attractive-on-dips-2400","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-attractive-on-dips-2400\/","title":{"rendered":"TA: Why Ethereum (ETH) Remains Attractive On Dips Towards $2,400"},"content":{"rendered":"
Ethereum remained well bid above the $2,500 zone against the US Dollar. ETH price must stay above $2,400 for upside continuation in the near term.<\/em><\/p>\n Ethereum started a fresh increase above the $2,600 level, outpacing bitcoin<\/a>. ETH price even broke the $2,650 resistance, but there was no real bullish momentum.<\/p>\n A high was formed near $2,666 before the price corrected lower. It broke the $2,600 support level, but it is still well above $2,500 and the 100 hourly simple moving average<\/a>. There was a break below the 50% Fib retracement level of the upward move from the $2,510 swing low to $2,666 high.<\/p>\n The price is now testing the $2,550 support zone. It is near the 76.4% Fib retracement level of the upward move from the $2,510 swing low to $2,666 high. There is also a crucial bullish trend line forming with support near $2,460 on the hourly chart of ETH\/USD.<\/p>\n <\/a><\/p>\n On the upside, the first key resistance is near the $2,600 level. The main resistance is now forming near the $2,650 level. A clear break and close above $2,650 might start another steady increase. In the stated case, the price could revisit the $2,700 level.<\/p>\n If ethereum fails to continue higher above $2,620, it could extend its decline. An immediate support on the downside is near the $2,520 level.<\/p>\n The next major support is near the $2,510 level and the 100 hourly simple moving average. The main support is now forming near the trend line and $2,450. A clear downside break below the $2,450 support zone could lead the price towards the $2,350 support.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly gaining pace in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now close to the 40 level.<\/p>\n Major Support Level \u2013 $2,450<\/p>\n Major Resistance Level \u2013 $2,650<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum remained well bid above the $2,500 zone against the US Dollar. ETH price must stay above $2,400 for upside continuation in the near term. Ethereum struggled to clear the $2,650 resistance and corrected lower. The price is still trading above $2,500 and the 100 hourly simple moving average. There is a crucial bullish trend line forming with support near $2,460 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to start a fresh increase unless there is a clear break below $2,400 in the near term. Ethereum Price is Holding Key Support Ethereum started a fresh increase above the $2,600 level, outpacing bitcoin. ETH price even broke the $2,650 resistance, but there was no real bullish momentum. A high was formed near $2,666 before the price corrected lower. It broke the $2,600 support level, but it is still well above $2,500 and the 100 hourly simple moving average. There was a break below the 50% Fib retracement level of the upward move from the $2,510 swing low to $2,666 high. The price is now testing the $2,550 support zone. It is near the 76.4% Fib retracement level of the upward move from the $2,510 swing low to $2,666 high. There is also a crucial bullish trend line forming with support near $2,460 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com On the upside, the first key resistance is near the $2,600 level. The main resistance is now forming near the $2,650 level. A clear break and close above $2,650 might start another steady increase. In the stated case, the price could revisit the $2,700 level. More Losses in ETH? If ethereum fails to continue higher above $2,620, it could extend its decline. An immediate support on the downside is near the $2,520 level. The next major support is near the $2,510 level and the 100 hourly simple moving average. The main support is now forming near the trend line and $2,450. A clear downside break below the $2,450 support zone could lead the price towards the $2,350 support. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly gaining pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now close to the 40 level. Major Support Level \u2013 $2,450 Major Resistance Level \u2013 $2,650<\/p>\n","protected":false},"author":67,"featured_media":463558,"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-468551","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 Holding Key Support<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n