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Ethereum price support is $2,460 and new growth has begun. ETH is now rising and may aim to exceed the $2,600 resistance zone.
- Ethereum’s growth exceeded the $2,500 and $2,520 levels.
- Price is above $2,520, while the 100-hour simple moving average.
- On the hourly chart of ETH/USD (via Kraken’s feed), the connection trend line from resistance is $2540.
- If the $2,600 resistance is cleared in the short term, the couple can build up their strength.
Ethereum price is supported
After Bitcoin trading reached new all-time highs, Ethereum prices started to be good. ETH tested the $2,720 area before making a downlink correction. Priced under $2,500 and tested $2,450.
The price at the lowest price was $2,463 and the price rose again. Movement of resistors above $2500. Prices exceeded the 23.6% FIB retracement level, from a swing high of $2,729 to a low of $2,463. On the hourly chart of ETH/USD, there is also a loss of the bearish trend line breakout compared to the connection trend line of the resistor.
Ethereum Price is now trading above $2,520 and a simple moving average of 100 hours. On the plus side, the price may be close to resistance at the $2,600 level. It is close to the 50% FIB retracement level from the $2,729 swing high to the $2,463 low.
The next key resistance is close to the $2,630 level. The first major resistance is close to the $2,650 level. A clear action on resistors over $2,650 could shift the price to a resistor at $2,720.
A rise in resistors above $2,720 could demand more gains in the upcoming meeting. In the case of statements, ether may rise toward the $2,800 resistance zone or even $2,850 in the short term.
Does ETH support inclination?
If Ethereum fails to clear the $2,600 resistor, a new drop may begin. The initial support for the adverse aspects is close to the $2,520 level. The first major support is located near the $2500 area.
A clear move to support below $2,500 could push the price toward support at $2,460. In the near term, more losses could shift the price to the support level of $2,420. Next key supports $2,350.
Technical Indicators
Hourly MACD – MACD of ETH/USD is gaining momentum in bullish regions.
Hourly RSI – The RSI of ETH/USD is now above the 50 area.
Main support level – $2,500
Main resistance level – $2,600
