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Ethereum Price began a new increase above the $ 2,750 zone. ETH is now correcting the profits and could try the support zone of $ 2,680.
- Ethereum began a new increase above the level of $ 2,800.
- The price is quoted above $ 2,750 and the single mobile average of 100 hours.
- There was a break below a key bullish trend line that was formed with $ 2,800 support in the ETH/USD -hour graph (FEED of data through Kraken).
- The couple could begin a new increase if it is maintained above the support of $ 2,680 in the short term.
Ethereum’s price corrects profits
Ethereum Price began a new increase after he found support near the level of $ 2,550, surpassing Bitcoin. ETH Price was able to eliminate resistance levels of $ 2,650 and $ 2,720.
The Bulls exceeded the price above $ 2,800. ETH even increased above $ 2,850. A maximum formed at $ 2,880 and the price now corrects profits. There was a movement below the FIB recoil level of 23.6% of the upward movement from the minimum swing of $ 2,483 to the maximum of $ 2,880.
In addition, there was a break below a key line of bullish trends that was formed with support of $ 2,800 in the ETH/USD table. The price of Ethereum is now quoted above $ 2,750 and the simple mobile average of 100 hours.
On the positive side, the price could face resistance near the level of $ 2,800. The following key resistance is close to the level of $ 2,840. The first important resistance is close to the level of $ 2,880. A clear movement above the resistance of $ 2,880 could send the price towards the resistance of $ 2,920.
An upward break over the resistance of $ 2,920 may require more profits in the next sessions. In the established case, Ether could rise to the resistance zone of $ 3,000 or even $ 3,120 in the short term.
More losses in ETH?
If Ethereum cannot eliminate the resistance of $ 2,820, a new decrease could begin. The initial support at the disadvantage is close to the level of $ 2,755. The first important support is close to the $ 2,680 zone and the FIB decrease level of 50% of the upward movement of the minimum of $ 2,483 to the maximum of $ 2,880.
A clear movement below the $ 2,680 support could boost the price towards the $ 2,620 support. More losses can send the price to the support level of $ 2,550 in the short term. The following key support is at $ 2,500.
Technical indicators
Macd per hour – The MacD for ETH/USD is losing impulse in the upward zone.
RSI per hour – The RSI for ETH/USD is now below zone 50.
Important support level: $ 2,680
Greater resistance level: $ 2,880
