EThereum has seen another 10% increase in the last 24 hours. So, can you buy ETH from here? Let’s look at the technical data
Can you buy Ethereum from here? Answer is in technical data
Ethereum is following a strong bullish path above the $3,000 resistance. ETH surpasses Bitcoin and climbs above the $3,200 level. After that point, there was a 10% increase and the price broke the $3,400 level.
ETH hit a new ATH top at $3,456 in the early hours of the day.. Price is positioned above the 100 MA on the hourly chart. Ethereum price corrected briefly in the morning below $3,320.. For ETH, the FB: 50% level of the correction from the peak of $ 3456 to the bottom of $ 3.088 has been caught.. ETH didn’t stay long where it fell and broke the $3,350 level again.
Ethereum’s trend line is near the Fib: 61.8% level of the decline from the $3,456 high to $3,088 low.. At this point, the main support line for ETH is seen at $3,080.. Beneath this level, ETH price could retreat to $2,950, located near the hourly 100 MA.
Will ETH rise further?
ETH was able to rise very quickly from the region where it fell. The price crossed the initial resistance $3,320.
The main resistance for Ethereum is $3,400. A clear break above $3,400 will take the price above $3,456.
The first major stop for Ethereum in the near term could be $3,550 or even $3,620.
MACD indicator is losing momentum in the bullish zone.. The RSI on the hourly chart is still above the 50 level.. Main support is $3,100. Main resistance is $3,400.
ETH price live: $ 1,075.06
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