{"id":472874,"date":"2021-10-01T05:08:35","date_gmt":"2021-10-01T05:08:35","guid":{"rendered":"https:\/\/ktsl888.com\/?p=472874"},"modified":"2024-06-11T13:59:07","modified_gmt":"2024-06-11T13:59:07","slug":"ethereum-consolidates-3050","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-consolidates-3050\/","title":{"rendered":"TA: Ethereum Consolidates, Why Bulls Could Aim Fresh Rally"},"content":{"rendered":"
Ethereum is consolidating near the $3,000 zone against the US Dollar. ETH price could start a fresh rally if it clears $3,020 and $3,050.<\/em><\/p>\n Ethereum extended its increase above the $3,000 level. ETH even tested the $3,050 zone before correcting lower, similar to bitcoin<\/a>.<\/p>\n There was a downside correction below the $3,000 support level. There was a break below the 23.6% Fib retracement level of the upward move from the $2,782 swing low to $3,050 low. However, downsides were limited below the $2,950 level.<\/p>\n Ether price is now trading above $2,950 and the 100 hourly simple moving average<\/a>. There is also a key contracting triangle forming with resistance near $3,020 on the hourly chart of ETH\/USD.<\/p>\n <\/a><\/p>\n An immediate resistance on the upside is near the $3,020 level. The first major resistance is near the $3,050 level. A break above the $3,050 level could start a steady increase. The next main resistance is still near the $3,150 and $3,165 levels, above which the price might accelerate higher.<\/p>\n If ethereum fails to continue higher above the $3,020 and $3,050 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $2,980 level.<\/p>\n The first key support is now forming near the $2,950 level and the 100 hourly simple moving average. If ether fails to stay above $2,950, there is a risk of a sharp drop. In the stated case, the price might decline towards the $2,800 level.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is still above the 50 level.<\/p>\n Major Support Level \u2013 $2,950<\/p>\n Major Resistance Level \u2013 $3,050<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum is consolidating near the $3,000 zone against the US Dollar. ETH price could start a fresh rally if it clears $3,020 and $3,050. Ethereum corrected lower, but it found support near the $2,950 zone. The price is now trading above $2,950 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $3,020 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a steady increase if it clears the $3,020 and $3,050 resistance levels in the near term. Ethereum Price Stuck Below Resistance Ethereum extended its increase above the $3,000 level. ETH even tested the $3,050 zone before correcting lower, similar to bitcoin. There was a downside correction below the $3,000 support level. There was a break below the 23.6% Fib retracement level of the upward move from the $2,782 swing low to $3,050 low. However, downsides were limited below the $2,950 level. Ether price is now trading above $2,950 and the 100 hourly simple moving average. There is also a key contracting triangle forming with resistance near $3,020 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com An immediate resistance on the upside is near the $3,020 level. The first major resistance is near the $3,050 level. A break above the $3,050 level could start a steady increase. The next main resistance is still near the $3,150 and $3,165 levels, above which the price might accelerate higher. Fresh Decline in ETH? If ethereum fails to continue higher above the $3,020 and $3,050 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $2,980 level. The first key support is now forming near the $2,950 level and the 100 hourly simple moving average. If ether fails to stay above $2,950, there is a risk of a sharp drop. In the stated case, the price might decline towards the $2,800 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now losing pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is still above the 50 level. Major Support Level \u2013 $2,950 Major Resistance Level \u2013 $3,050<\/p>\n","protected":false},"author":67,"featured_media":458437,"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-472874","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 Stuck Below Resistance<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in ETH?<\/h2>\n