$ETH
Ethereum Flirts with Resistance — Is a Major Breakout Imminent?
Ethereum price rose beyond $2,480. ETH is holding gains and may shortly break $2,520 barrier.
Ethereum rose again over $2,450.
The price is over $2,450 and the 100-hour SMA.
On the hourly ETH/USD chart, a bullish trend line with support around $2,440 is formed.
If it stays over $2,420, the pair may rise again.
Ethereum Price Expects Growth
Like Bitcoin, Ethereum price rose beyond $2,420. ETH price broke $2,450 and $2,480 barrier to rise.
Bulls even broke $2,500. However, bulls were active over $2,500. The price set a high at $2,523 and is consolidating gains above the 23.6% Fib retracement line of the upward run from the $2,394 swing low.
Ethereum is over $2,450 and the 100-hour SMA. The hourly ETH/USD chart shows a bullish trend line with support at $2,440.
Price may find resistance at $2,520 on the upside. Near $2,550 is the next major resistance. Near $2,580 is the first substantial resistance. A clean break over $2,580 might push the price above $2,650.
Above $2,650 barrier might lead to greater advances in the following sessions. Ether may soar to $2,720 or $2,800 in the short future.
ETH Downside Correction?
Ethereum may fall again if it fails to break $2,520. The downside has first support at $2,480. First significant support is at $2,460, the 50% Fib retracement level of the upward advance from $2,394 swing low to $2,523 high.
A decisive break below $2,460 might bring the market toward $2,440. If losses continue, the price may reach $2,400 support. The next support is $2,350.
Tech Indicators
Hourly ETH/USD MACD is rising in the positive zone.
Hourly ETH/USD RSI is over 50.
Major Support—$2,440
Major Resistance: $2,520