{"id":452579,"date":"2020-12-18T05:28:02","date_gmt":"2020-12-18T05:28:02","guid":{"rendered":"https:\/\/ktsl888.com\/?p=452579"},"modified":"2024-06-11T07:05:12","modified_gmt":"2024-06-11T07:05:12","slug":"ethereum-rally-isnt-over-yet-630","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-rally-isnt-over-yet-630\/","title":{"rendered":"TA: Ethereum Consolidates above $640, Why Rally Isn\u2019t Over Yet"},"content":{"rendered":"
Ethereum traded to a new monthly high above $675 against the US Dollar. ETH price is currently correcting gains, but dips are likely to be limited below $630 in the near term.<\/em><\/p>\n Yesterday, there was a massive upward move in bitcoin<\/a>, Ethereum, ripple<\/a> and other major altcoins. ETH cleared the key $620 resistance level and rallied above the $635 swing high.<\/p>\n As a result, there was a strong surge<\/a> and the price broke the $650 resistance. Ether traded to a new monthly high at $676 and settled well above the 100 hourly simple moving average. Recently, there was a downside correction below the $650 level.<\/p>\n However, the bulls remained active above the $630 and $635 levels. A low is formed near $628 and the price is currently consolidating gains. It recovered above the $640 level. There was also a break above the 23.6% Fib retracement level of the recent decline from the $676 high to $628 swing low.<\/p>\n <\/a><\/p>\n It is now facing a strong resistance near the $652 level. The 50% Fib retracement level of the recent decline from the $676 high to $628 swing low seems to be acting as a major resistance.<\/p>\n A clear break above the $652 resistance level could open the doors for a fresh rally. The next major resistance is near the $658 level, followed by $675. Any more upsides may possibly call for a test of the $700 level.<\/p>\n If ethereum continues to move down, the trend line support and $640 could play a major role. The next key support is near the $630 level.<\/p>\n A downside break below the $630 support level could lead the price towards the $620 support. The 100 hourly simple moving average is also near $620 to provide support.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly losing momentum in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is currently close to the 50 level.<\/p>\n Major Support Level \u2013 $630<\/p>\n Major Resistance Level \u2013 $652<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum traded to a new monthly high above $675 against the US Dollar. ETH price is currently correcting gains, but dips are likely to be limited below $630 in the near term. Ethereum gained bullish momentum after it broke the $620 resistance level. The price surged towards the $675 resistance and settled well above the 100 hourly simple moving average. There is a major bullish trend line forming with support near $638 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is currently consolidating gains above $640 and it could resume its upward move. Ethereum Price Holding Gains Yesterday, there was a massive upward move in bitcoin, Ethereum, ripple and other major altcoins. ETH cleared the key $620 resistance level and rallied above the $635 swing high. As a result, there was a strong surge and the price broke the $650 resistance. Ether traded to a new monthly high at $676 and settled well above the 100 hourly simple moving average. Recently, there was a downside correction below the $650 level. However, the bulls remained active above the $630 and $635 levels. A low is formed near $628 and the price is currently consolidating gains. It recovered above the $640 level. There was also a break above the 23.6% Fib retracement level of the recent decline from the $676 high to $628 swing low. Source: ETHUSD on TradingView.com It is now facing a strong resistance near the $652 level. The 50% Fib retracement level of the recent decline from the $676 high to $628 swing low seems to be acting as a major resistance. A clear break above the $652 resistance level could open the doors for a fresh rally. The next major resistance is near the $658 level, followed by $675. Any more upsides may possibly call for a test of the $700 level. More Dips in ETH? If ethereum continues to move down, the trend line support and $640 could play a major role. The next key support is near the $630 level. A downside break below the $630 support level could lead the price towards the $620 support. The 100 hourly simple moving average is also near $620 to provide support. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is currently close to the 50 level. Major Support Level \u2013 $630 Major Resistance Level \u2013 $652<\/p>\n","protected":false},"author":67,"featured_media":452581,"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-452579","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 Holding Gains<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Dips in ETH?<\/h2>\n