Ethereum Signals Bullish Breakout, Why ETH Could Hit New ATH Soon

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining


Ethereum broke the $1,200 resistance to move into a bullish zone against the US Dollar. ETH price is showing positive signs and it is likely to continue higher above $1,300 and $1,400.

  • ETH price is gaining bullish momentum above the $1,200 pivot level against the US Dollar.
  • The price is facing hurdles near $1,280, but it is well above the 100 simple moving average (4-hours).
  • There was a break above a major contracting triangle with resistance near $1,215 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair is likely to continue higher towards $1,400 and $1,500 in the coming days.

Ethereum’s Ether Could Rally Further

This past week, bitcoin and ethereum saw a fresh increase above $1,150 and $35,000 respectively against the US Dollar. ETH price even surpassed the $1,200 resistance zone and settled well above the 100 simple moving average (4-hours).

The upward move was such that there was a break above a major contracting triangle with resistance near $1,215 on the 4-hours chart of ETH/USD. Ether price traded as high as $1,292 before correcting lower.

There was a break below the $1,240 level. The price traded below the 23.6% Fib retracement level of the recent increase from the $1,066 swing low to $1,292 high. However, the broken triangle resistance is acting as a strong support near the $1,200 zone.

Source: ETHUSD on TradingView.com

The next major support is near the $1,180 level. It is close to the 50% Fib retracement level of the recent increase from the $1,066 swing low to $1,292 high.

On the upside, the price is facing a short-term resistance near the $1,280 level. A clear break above the $1,280 and $1,300 resistance levels could open the doors for a larger increase. In the stated case, ether price might even surpass $1,400 and trade to a new all-time high in the near term.

Dips Supported in Ether (ETH)?

If Ethereum fails to clear the $1,280 and $1,300 resistance levels, it could start a downside correction. The first key support on the downside is near the $1,180 level.

The main support is forming near the $1,150 level (the recent breakout zone). Any more losses could lead the price towards $1,050 and the 100 simple moving average (4-hours).

Technical Indicators

4 hours MACD – The MACD for ETH/USD is slowly gaining momentum in the bullish zone.

4 hours RSI – The RSI for ETH/USD is well above the 50 level.

Major Support Level – $1,180

Major Resistance Level – $1,280

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close