{"id":469895,"date":"2021-08-23T05:38:07","date_gmt":"2021-08-23T05:38:07","guid":{"rendered":"https:\/\/wncen.com\/?p=469895"},"modified":"2024-06-11T13:57:56","modified_gmt":"2024-06-11T13:57:56","slug":"ethereum-gains-traction-3400","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-gains-traction-3400\/","title":{"rendered":"TA: Ethereum Gains Traction, Why ETH Could Rally Above $3,400"},"content":{"rendered":"
Ethereum extended its upward move above the $3,300 resistance against the US Dollar. ETH price is showing positive signs and it may even surpass $3,400.<\/em><\/p>\n Ethereum remained well bid above the $3,000 support zone, similar to bitcoin<\/a> near $45,000. ETH price formed a base above $3,050 and it started a fresh increase.<\/p>\n There was a clear break above the $3,200 and $3,250 resistance levels<\/a>. Besides, there was a break above a key bearish trend line with resistance near $3,240 on the hourly chart of ETH\/USD. The pair is now trading above $3,250 and the 100 hourly simple moving average.<\/p>\n It traded above $3,300 and it is testing the 1.236 Fib extension level of the drop from the $3,312 swing high to $3,131 swing low. On the upside, an initial resistance is near the $3,355 level.<\/p>\n <\/a><\/p>\n A clear break above $3,355 might call for more gains. The first key resistance is now forming near the $3,260 level. It is close to the 1.618 Fib extension level of the drop from the $3,312 swing high to $3,131 swing low. Any more gains may possibly call for a move towards the $3,500 level.<\/p>\n If ethereum fails to continue higher above the $3,355 and $3,360 resistance levels, it could start a fresh downside correction. An immediate support on the downside is near the $3,300 level.<\/p>\n The key support is now forming near the $3,250 zone and the broken trend line. A downside break below the $3,250 support zone could push the price towards the 100 hourly simple moving average. The next major support could be $3,200, below which the bears might aim a retest of $3,120 in the near term.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now well above the 60 level.<\/p>\n Major Support Level \u2013 $3,250<\/p>\n Major Resistance Level \u2013 $3,420<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum extended its upward move above the $3,300 resistance against the US Dollar. ETH price is showing positive signs and it may even surpass $3,400. Ethereum started a fresh increase above the $3,250 and $3,300 resistance levels. The price is now trading above $3,250 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $3,240 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could accelerate higher if there is a clear break above $3,350. Ethereum Price Breaks Key Resistance Ethereum remained well bid above the $3,000 support zone, similar to bitcoin near $45,000. ETH price formed a base above $3,050 and it started a fresh increase. There was a clear break above the $3,200 and $3,250 resistance levels. Besides, there was a break above a key bearish trend line with resistance near $3,240 on the hourly chart of ETH\/USD. The pair is now trading above $3,250 and the 100 hourly simple moving average. It traded above $3,300 and it is testing the 1.236 Fib extension level of the drop from the $3,312 swing high to $3,131 swing low. On the upside, an initial resistance is near the $3,355 level. Source: ETHUSD on TradingView.com A clear break above $3,355 might call for more gains. The first key resistance is now forming near the $3,260 level. It is close to the 1.618 Fib extension level of the drop from the $3,312 swing high to $3,131 swing low. Any more gains may possibly call for a move towards the $3,500 level. Dips Limited in ETH? If ethereum fails to continue higher above the $3,355 and $3,360 resistance levels, it could start a fresh downside correction. An immediate support on the downside is near the $3,300 level. The key support is now forming near the $3,250 zone and the broken trend line. A downside break below the $3,250 support zone could push the price towards the 100 hourly simple moving average. The next major support could be $3,200, below which the bears might aim a retest of $3,120 in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now well above the 60 level. Major Support Level \u2013 $3,250 Major Resistance Level \u2013 $3,420<\/p>\n","protected":false},"author":67,"featured_media":456360,"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-469895","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 Breaks Key Resistance<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in ETH?<\/h2>\n