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Tag: Strength

  • Ethereum Price Could Regain Strength If It Clears This Key Hurdle

    Ethereum Price Could Regain Strength If It Clears This Key Hurdle

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    Ethereum price is attempting a fresh increase wave above the $3,400 zone. ETH must clear the $3,580 resistance to continue higher in the near term.

    • Ethereum is holding gains above the $3,250 support zone.
    • The price is trading above $3,400 and the 100-hourly Simple Moving Average.
    • There was a break above a key bearish trend line with resistance at $3,400 on the hourly chart of ETH/USD (data feed via Kraken).
    • The pair could continue to rise if it settles above the $3,500 resistance zone.

    Ethereum Price Eyes Fresh Increase

    Ethereum price remained stable above the $3,250 support zone. ETH formed a base and started a fresh increase above the $3,350 resistance level, like Bitcoin.

    ETH climbed above the $3,400 resistance zone. There was a move above the 50% Fib retracement level of the downward move from the $3,587 swing high to the $3,250 low. There was a break above a key bearish trend line with resistance at $3,400 on the hourly chart of ETH/USD.

    Ethereum is now trading above $3,400 and the 100-hourly Simple Moving Average. On the upside, immediate resistance is near the $3,500 level. It is near the 76.4% Fib retracement level of the downward move from the $3,587 swing high to the $3,250 low.

    Ethereum Price

    Source: ETHUSD on TradingView.com

    The first major resistance is near the $3,550 level. The next key resistance sits at $3,580, above which the price might gain bullish momentum. In the stated case, Ether could rally toward the $3,720 level. If there is a move above the $3,720 resistance, Ethereum could even climb toward the $3,880 resistance. Any more gains might call for a test of $4,000.

    Another Decline In ETH?

    If Ethereum fails to clear the $3,500 resistance, it could start another decline. Initial support on the downside is near the $3,400 level.

    The first major support is near the $3,250 zone. The next key support could be the $3,060 zone. A clear move below the $3,060 support might send the price toward $3,000. Any more losses might send the price toward the $2,880 level.

    Technical Indicators

    Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

    Hourly RSI – The RSI for ETH/USD is now above the 50 level.

    Major Support Level – $3,400

    Major Resistance Level – $3,580

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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  • Bitcoin Regains Strength, Why 100 SMA Is The Key For More Upsides

    Bitcoin Regains Strength, Why 100 SMA Is The Key For More Upsides

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    Bitcoin started a fresh increase above $58,000 against the US Dollar. BTC traded close to $60,000 and is currently correcting gains.

    • Bitcoin started a fresh increase above the $58,000 and $58,500 levels.
    • The price is now trading above $58,000 and the 100 hourly simple moving average.
    • There was a break below a key bullish trend line with support near $58,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair must remain above $57,500 and the 100 hourly SMA to start another increase.

    Bitcoin Price is Back above 100 SMA

    Bitcoin price was stable above the $57,000 level. BTC started a fresh increase and was able to clear the $58,000 resistance zone. There was also a break above the $58,500 level and the 100 hourly simple moving average.

    However, there was no test of the $60,000 resistance zone. A high was formed near $59,400 and the price is now correcting gains. There was a break below the $58,500 support level.

    Besides, there was a break below a key bullish trend line with support near $58,550 on the hourly chart of the BTC/USD pair. The pair traded below the 23.6% Fib retracement level of the upward move from the $55,909 swing low to $59,400 high.

    An immediate support is near the $58,200 level. The first major support is now forming near the $57,650 level. It is close to the 50% Fib retracement level of the upward move from the $55,909 swing low to $59,400 high.

    Bitcoin Price

    Source: BTCUSD on TradingView.com

    The next major support is near the $57,500 level and the 100 hourly SMA, below which the price could resume its decline towards the main breakdown support at $55,500.

    Fresh Increase In BTC?

    If bitcoin stays above the $57,500 support and the 100 hourly SMA, it could start a fresh increase. On the upside, an initial resistance is near the $59,000 level.

    The next key resistance is near the $59,500 level. A close above the $59,000 and $59,500 levels may possibly push the price above $60,000. The next major resistance sits near the $61,200 level.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is declining towards the 50 level.

    Major Support Levels – $57,650, followed by $57,500.

    Major Resistance Levels – $59,000, $59,500 and $60,000.

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  • Ethereum Regains Strength, Indicators Suggest Fresh Run To $4,850

    Ethereum Regains Strength, Indicators Suggest Fresh Run To $4,850

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    Ethereum started a fresh increase from the $4,500 zone against the US Dollar. ETH could extend upsides towards $4,850 unless it fails to stay above the 100 hourly SMA.

    • Ethereum started a fresh increase above the $4,600 and $4,700 levels.
    • The price is now trading above $4,650 and the 100 hourly simple moving average.
    • There was a break above a major bearish trend line with resistance near $4,630 on the hourly chart of ETH/USD (data feed via Kraken).
    • The pair could extend gains above the $4,800 resistance zone in the near term.

    Ethereum Price Eyes More Upsides

    Ethereum formed a decent support base above the $4,500 level. As a result, ETH price started a fresh increase above the $4,600 resistance zone and the 100 hourly simple moving average.

    There was a break above a major bearish trend line with resistance near $4,630 on the hourly chart of ETH/USD. The pair climbed above the $4,700 level, but it is now facing resistance near the $4,725 level.

    Ether is now consolidating gains and trading near $4,700. It is also well above the 23.6% Fib retracement level of the upward move from the $4,520 swing low to $4,725 high. An immediate resistance on the upside is near the $4,725 level.

    Ethereum Price

    Source: ETHUSD on TradingView.com

    The next major resistance is near the $4,750 level. A break above the $4,750 level may possibly spark a fresh rally. The next key resistance is near the $4,850 level. Any more gains could lead the price towards the $5,000 level in the near term.

    Dips Supported in ETH?

    If ethereum fails to climb above the $4,725 and $4,750 resistance levels, it could extend its downside correction. An initial support on the downside is near the $4,675 level.

    The first major support is near the $4,650 level and the 100 hourly SMA. The next major support is near the $4,620 level. It is near the 50% Fib retracement level of the upward move from the $4,520 swing low to $4,725 high.  Any more downsides could lead the price towards the $4,550 support. The next major support for the bulls is near the $4,500 level.

    Technical Indicators

    Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.

    Hourly RSI – The RSI for ETH/USD is now well above the 50 level.

    Major Support Level – $4,550

    Major Resistance Level – $4,850

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  • Ethereum Regains Strength, Why $3,200 Is The Key For More Upsides

    Ethereum Regains Strength, Why $3,200 Is The Key For More Upsides

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    Ethereum started a steady increase above $3,000 against the US Dollar. ETH price must clear the $3,200 to continue higher in the near term.

    • Ethereum started a strong increase from the $2,750 support zone.
    • The price is now trading above $3,000 and near the 100 hourly simple moving average.
    • There was a break a major declining channel with resistance near $2,925 on the hourly chart of ETH/USD (data feed via Kraken).
    • The pair must surpass $3,175 and $3,200 to continue higher in the near term.

    Ethereum Price Is Gaining Momentum

    Ethereum found a strong support near $2,750 and started a fresh increase, similar to bitcoin. ETH broke the $2,880 and $2,950 resistance levels to move into a positive zone.

    There was also a break a major declining channel with resistance near $2,925 on the hourly chart of ETH/USD. The pair settled above the $3,000 zone and near the 100 hourly simple moving average. It gained traction and climbed above the $3,100 level.

    Ether price is now facing resistance near the $3,175 zone. It traded as high as $3,165 and is currently correcting lower. An immediate support sits near the $3,065 level. It is near the 23.6% Fib retracement level of the upward move from the $2,740 swing low to $3,165 high.

    Ethereum Price

    Source: ETHUSD on TradingView.com

    On the upside, an immediate resistance on the upside is near the $3,165 level. The first major resistance is near the $3,175 level. The main breakout zone could be near the $3,200 zone. A close above the $3,200 resistance could push the price further higher. In the stated case, the price could rise towards $3,320.

    Dips Supported in ETH?

    If ethereum fails to continue higher above the $3,165 and $3,200 resistance levels, it could start a downside correction. An initial support on the downside is near the $3,065 level.

    The next major support seems to be forming near the $3,000 level and the 100 hourly simple moving average. Any more losses might call for a test of the 50% Fib retracement level of the upward move from the $2,740 swing low to $3,165 high at $2,950. If ether fails to stay above $2,950, it could resume its decline in the near term.

    Technical Indicators

    Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.

    Hourly RSI – The RSI for ETH/USD is now well above the 50 level.

    Major Support Level – $3,065

    Major Resistance Level – $3,175

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  • Ethereum Regains Strength, Why ETH Could Rally Above $2K

    Ethereum Regains Strength, Why ETH Could Rally Above $2K

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    Ethereum started a fresh increase after the bulls defended $1,700 against the US Dollar. ETH price is likely to continue higher above the main $2,000 resistance.

    • Ethereum is showing positive signs above the $1,850 and $1,900 resistance levels.
    • The price is now well above $1,900 and the 100 hourly simple moving average.
    • There was a break above a major bearish trend line with resistance near $1,840 on the hourly chart of ETH/USD (data feed via Kraken).
    • The pair is likely to clear the $2,000 barrier and it could accelerate higher in the near term.

    Ethereum Price is Gaining Pace

    Ethereum remained well bid above the last swing low near $1,700. ETH formed a base above $1,700 and it started a major increase. The bulls were able to push the price above the $1,850 resistance zone.

    There was also a break above a major bearish trend line with resistance near $1,840 on the hourly chart of ETH/USD. The pair climbed above the 61.8% Fib retracement level of the of the key decline from the $2,038 swing high to $1,715 low.

    It is now well above $1,900 and the 100 hourly simple moving average. Ether price is consolidating above the 76.4% Fib retracement level of the of the key decline from the $2,038 swing high to $1,715 low.

    Ethereum Price

    Source: ETHUSD on TradingView.com

    It seems like the price could continue to rise above $1,980. The next key resistance is near the $2,000 zone. Any more gains could set the pace for a move towards the $2,115 level. It is near the 1.236 Fib extension level of the of the key decline from the $2,038 swing high to $1,715 low. An intermediate resistance could be near the $2,050 level.

    Fresh Decline in ETH?

    If Ethereum fails to clear the $2,000 and $2,050 resistance levels, it could start a fresh decline. An initial support on the downside is near the $1,920 level.

    The first major support is now forming near the $1,875 level and the 100 hourly SMA. A downside break below the $1,875 zone could lead the price further lower. In the stated case, the price could move down further towards the $1,800 level.

    Technical Indicators

    Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone.

    Hourly RSI – The RSI for ETH/USD is currently well above the 60 level.

    Major Support Level – $1,875

    Major Resistance Level – $2,000

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