Ethereum climbed to a new weekly high above $3,250 against the US Dollar. ETH price is correcting gains, but it might find support near $3,150.

• Ethereum started a downside correction after it spiked above the $3,250 level.
• The price is still trading above $3,150 and the 100 hourly simple moving average.
• There is a major bullish trend line forming with support near $3,150 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair must stay above $3,150 and $3,100 to start another increase in the near term.

Ethereum Price Eyes More Upsides

Ethereum remained strong and extended increase above the $3,200 level. ETH even climbed above the $3,250 level and settled well above the 100 hourly simple moving average.

A high was formed near the $3,272 and the price is now correcting gains. It is trading below the $3,200 support level. Ether corrected lower below the 23.6% Fib retracement level of the recent increase from the $3,028 swing low to $3,272 high.

However, the price is still trading above $3,150 and the 100 hourly simple moving average. Besides, there is a major bullish trend line forming with support near $3,150 on the hourly chart of ETH/USD.

Source: ETHUSD on TradingView.com

An immediate resistance on the upside is near the $3,220 level. The first major resistance is near the $3,220 level. A successful close above $3,250 might start another increase. In the stated case, the price could surpass the $3,280 and $3,300 levels. The next major stop for the bulls may possibly be near the $3,400 level.

Dips Limited in ETH?

If ethereum fails to continue higher above $3,220 or $3,250, it could start a downside correction. An initial support on the downside is near the $3,150 level and the trend line zone.

The trend line is also near the 50% Fib retracement level of the recent increase from the $3,028 swing low to $3,272 high. A downside break below the trend line support might push the price towards the 100 hourly SMA. The next major support is near the $3,050 level, below which there is a risk of a larger decline.

Technical Indicators

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

Hourly RSI – The RSI for ETH/USD is just below the 50 level.

Major Support Level – $3,150

Major Resistance Level – $3,250

Source

Ethereum gained bullish momentum and cleared the $3,100 resistance against the US Dollar. ETH price could accelerate further if it clears the $3,200 resistance.

• Ethereum started a major increase and even settled above the $3,000 level.
• The price is now trading above $3,100 and the 100 hourly simple moving average.
• There was a break above a couple of short-term bearish trend lines at $3,000 and $3,080 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair is now facing hurdle near $3,200, above which it could accelerate further higher.

Ethereum Price Eyes More Gains

Ethereum gained pace and was able to settle above the key $3,000 resistance zone. ETH remained in a positive zone above the $3,050 level and the 100 hourly simple moving average.

During the increase, there was a break above a couple of short-term bearish trend lines at $3,000 and $3,080 on the hourly chart of ETH/USD. The pair even broke the $3,120 resistance level and traded to a new yearly high at $3,190.

Ether price is now consolidating gains below the $3,190 level. There was a minor decline below the 23.6% Fib retracement level of the recent rally from the $2,950 swing low to $3,190 high.

Source: ETHUSD on TradingView.com

An immediate resistance on the upside is near the $3,160 level and a connecting bearish trend line on the same chart. A clear move above the $3,160 resistance could spark another increase. The next major hurdle is near the $3,200 level. A proper break above the $3,200 level might start a move towards the $3,350 and $3,380 levels in the near term.

Dips Limited in ETH?

If ethereum fails to continue higher above $3,160 or $3,180, it could start a downside correction. An initial support on the downside is near the $3,115 level. The first major support is near the $3,080 level.

It is near the 50% Fib retracement level of the recent rally from the $2,950 swing low to $3,190 high. A downside break below the $3,080 level might push the price further lower. The next major support is near the $3,000 level and the 100 hourly SMA, below which there is a risk of a major downside correction.

Technical Indicators

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

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

Major Support Level – $3,080

Major Resistance Level – $3,200

Source

Ethereum gained bullish momentum and cleared the $3,000 resistance against the US Dollar. ETH price is rising, but it could face hurdles near the $3,200 level.

• Ethereum found support and started a strong increase above the $3,000 level.
• The price is now trading above $3,000 and the 100 hourly simple moving average.
• There was a break above a key bearish trend line with resistance near $3,010 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could accelerate higher, but the $3,200 barrier might prevent additional gains.

Ethereum Price Reclaims $3K

Ethereum formed a base for a fresh increase above the $2,800 resistance zone. ETH was able to surpass many hurdles near the $2,880 and $3,000 levels.

It even settled above the $3,000 resistance and the 100 hourly simple moving average. Recently, there was a break above a key bearish trend line with resistance near $3,010 on the hourly chart of ETH/USD. The pair is now rising and trading above the $3,050 level.

A high is formed near $3,089 and the price might continue to rise. Ether is trading well above the 23.6% Fib retracement level of the upward move from the $2,952 swing low to $3,089 high.

Source: ETHUSD on TradingView.com

An immediate resistance on the upside is near the $3,120 level. A clear move above the $3,120 resistance could send the price towards a major hurdle at $3,200. The bears might take a stand near the $3,200 level. If they fail, ether price could perhaps surge towards the $3,420 level in the near term.

Dips Limited in ETH?

If ethereum fails to continue higher above $3,120 or $3,200, it could start a downside correction. An initial support on the downside is near the $3,040 level. The first major support is near the $3,020 level.

It is near the 50% Fib retracement level of the upward move from the $2,952 swing low to $3,089 high. A downside break below the $3,020 level might push the price further lower. The next major support is near the $2,920 level and the 100 hourly SMA, below which there is a risk of a sharp decline. In the stated case, the price might revisit $2,800

Technical Indicators

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

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

Major Support Level – $3,020

Major Resistance Level – $3,200

Source

Ethereum failed to clear $2,800 and corrected gains against the US Dollar. ETH price must stay above the $2,600 support to avoid more downsides.

• Ethereum started a downside correction after it failed to surpass the $2,800 resistance.
• The price is now trading near $2,650 and the 100 hourly simple moving average.
• There is a crucial bullish trend line forming with support near $2,645 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a major decline if there is a move below $2,645 and $2,600.

Ethereum Price Dips

Ethereum made another attempt to clear the $2,800 resistance zone. ETH formed a high near $2,814 and started a fresh decline. There was a clear move below the $2,750 support level.

The price even spiked below the 50% Fib retracement level of the upward move from the $2,478 swing low to $2,815 high. It is now trading near $2,650 and the 100 hourly simple moving average. Besides, there was a test of the key $2,600 support level.

Ether price stayed above the 61.8% Fib retracement level of the upward move from the $2,478 swing low to $2,815 high. There is also a crucial bullish trend line forming with support near $2,645 on the hourly chart of ETH/USD.

An immediate resistance on the upside is near the $2,700 level. The first major resistance is near the $2,750 level. The main resistance for a larger increase is near the $2,800 level. A convincing move above the $2,800 resistance could stage a strong upward move.

Source: ETHUSD on TradingView.com

The next key resistance is near the $2,920 level, above which ether price might rise towards the $3,000 resistance zone in the near term.

Downside Break in ETH?

If ethereum fails to start a fresh increase above the $2,750 resistance, it could extend decline. An initial support on the downside is near the $2,645 level and the trend line.

A downside break below the trend line support may even push the price below the $2,600 support zone. The next major support is near the $2,500 level, where the bulls might take stand. If they fail, the price could slide to $2,400.

Technical Indicators

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

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

Major Support Level – $2,600

Major Resistance Level – $2,750

Source

Ethereum gained pace above the $2,700 resistance against the US Dollar. ETH price could extend gains if there is a clear move above the $2,800 resistance.

• Ethereum gained pace above the $2,650 and $2,750 resistance levels.
• The price is now trading above $2,700 and the 100 hourly simple moving average.
• There is a key bullish trend line forming with support near $2,640 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could continue to rise if it clears the $2,800 resistance zone.

Ethereum Price Remains Supported

Ethereum remained formed a base above the $2,650 level and extended increase. ETH was able to clear the $2,750 resistance zone and settled well above the 100 hourly simple moving average.

The price even spiked above the $2,800 level and formed a high near the $2,814 level. It is now consolidating gains below the $2,800 level. It tested the $2,750 level and the 23.6% Fib retracement level of the recent increase from the $2,479 swing low to $2,814 high.

There is also a key bullish trend line forming with support near $2,640 on the hourly chart of ETH/USD. Overall, ether price is trading in a positive zone above $2,700 and the 100 hourly simple moving average.

An immediate resistance on the upside is near the $2,785 level. The first major resistance is near the $2,800 level. A proper close above the $2,800 resistance might push the price further higher. In the stated case, the pair could climb above the $2,850 zone.

Source: ETHUSD on TradingView.com

The next key barrier for the bulls may perhaps be $2,920. Any more gains might send the price towards the $3,000 resistance zone in the coming sessions.

Dips Limited in ETH?

If ethereum fails to continue higher above the $2,800 resistance, it could start a downside correction. An initial support on the downside is near the $2,735 level.

The first key support is now forming near the $2,645 level. It is near the 50% Fib retracement level of the recent increase from the $2,479 swing low to $2,814 high. If there is a downside break below the $2,645 level, the price move down towards the $2,550 level.

Technical Indicators

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

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

Major Support Level – $2,645

Major Resistance Level – $2,800

Source

Ethereum is holding the $2,500 support zone against the US Dollar. ETH price could rise towards the $2,750 level unless there is a move below $2,450.

• Ethereum managed to stay above the $2,480 and $2,500 support levels.
• The price is still trading below $2,550 and the 100 hourly simple moving average.
• There is a key bullish trend line forming with support near $2,500 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a decent increase if there is a clear move above $2,550 and $2,600.

Ethereum Price Holds Support

Ethereum attempted an upside break above the $2,640 and $2,650 resistance levels. ETH struggled to clear the $2,650 zone and started a downside correction.

There was a break below the $2,500 support zone and the 100 hourly simple moving average. Ether price even declined below the 23.6% Fib retracement level of the upward move from the $2,316 swing low to $2,639 high.

However, the bulls are now protecting the $2,500 support level. Besides, there is a key bullish trend line forming with support near $2,500 on the hourly chart of ETH/USD. It is consolidating, but it is still trading below $2,550 and the 100 hourly simple moving average.

An immediate resistance on the upside is near the $2,540 level and the 100 hourly simple moving average. The first major resistance is near the $2,560 level. A clear move above the $2,560 resistance might start a steady increase. In the stated case, the pair could even surpass the $2,600 level.

Source: ETHUSD on TradingView.com

The next key hurdle could be $2,650, above which the bulls are likely to aim a larger increase towards the $2,750 and $2,800 levels.

Fresh Decline in ETH?

If ethereum fails to start a fresh increase above the $2,550 level, it could extend losses. An initial support on the downside is near the $2,500 level.

The first key support is now forming near the $2,450 level. It is near the 50% Fib retracement level of the upward move from the $2,316 swing low to $2,639 high. If there is a downside break below the $2,450 level, the price could accelerate lower.

Technical Indicators

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

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

Major Support Level – $2,450

Major Resistance Level – $2,550

Source