Ethereum gained tempo towards the US greenback above the $ 3,250 zone. ETH worth corrects positive aspects of $ 3,400, however drops may very well be restricted within the quick time period.

  • Ethereum began a pointy surge above the $ 3,250 resistance zone.
  • The worth is buying and selling above $ 3,250 and the 100-hour easy transferring common.
  • A big bullish trendline is forming on the hourly chart of ETH / USD (information feed through Kraken) with assist close to USD 3,300.
  • The pair may proceed to rise if there’s a vital break above the USD 3,380 resistance zone.

Ethereum worth is gaining momentum

Ethereum began a pointy surge above the $ 3,250 resistance zone. ETH even broke the USD 3,300 resistance zone and the 100-hour easy transferring common to maneuver additional right into a constructive zone.

The bulls even pumped the value above the $ 3,350 mark. The worth of ether rose above the $ 3,400 mark and a brand new weekly excessive is forming close to the $ 3,412 mark. It’s now correcting positive aspects and buying and selling beneath $ 3,360. There was a break beneath the 23.6% fib retracement stage of the current bullish transfer from the low of $ 3,206 to the excessive of $ 3,412.

Ether worth is now buying and selling above $ 3,250 and the 100-hour easy transferring common. A significant bullish trendline can be forming on the hourly chart of ETH / USD with assist close to USD 3,300. On the flip aspect, fast resistance is close to the $ 3,380 stage.

Supply: ETHUSD on TradingView.com

A pointy rise above the $ 3,380 mark may set off one other spike within the quick time period. The following main resistance is close to the $ 3,420 stage above which the ether worth may check $ 3,500. Additional positive aspects may push the value to the $ 3,550 stage within the quick time period.

Dips Restricted at ETH?

If Ethereum fails to provoke a renewed spike above the USD 3,380 stage, it may set off a downward correction. Preliminary assist on the draw back is close to $ 3,320. The primary main assist is now forming close to the $ 3,300 mark.

It’s close to the 50% Fib retracement stage of the current bullish transfer from the low of $ 3,206 to the excessive of $ 3,412. A break beneath the $ 3,300 mark is pushing worth in the direction of trendline assist. Additional losses may transfer the value in the direction of $ 3,200.

Technical indicators

Hourly MACDThe MACD for ETH / USD is slowly dropping tempo within the upward zone.

Hourly RSIThe RSI for ETH / USD is above the 50 mark.

Nice stage of assist – $ 3,300

Nice resistance stage – $ 3,380

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