The price of Ethereum has started a fresh boost compared to the zone 2,080 USD. ETH is now above $ 2,300 and opposite obstacles near $ 2,550.

• Ethereum began a decent growth above the resistance zone worth USD 2,350.
• The price is sold above USD 2,350, and a 100-hour straight movable average.
• There was a break over the key line of the bear trend with a resistance of USD 2240 on the ETH/USD hour chart (data channel via Kraken).
• The pair must immaculate the resistance levels of USD 2,500 and USD 2550 to continue the higher.

Ethereum Rallies 10%

The price of Ethereum extended losses below USD 2,200 before the appearance of bulls, like Bitcoin. ETH tested the USD 2,080 zone, and recently began a robust growth. There was a traffic above USD 2,200 and USD 2,320 resistance levels.

There was a break over the key line of the bear trend with a resistance of USD 2240 on the ETH/USD hour chart. The pair increased even above the resistance level of USD 2,500. The amount was created at USD 2550, and the price is now corrected by some profits.

There was a traffic below 23.6% of the upward level of Movement FIB from $ 2173, a swing to $ 2550. The price of Ethereum is currently trading above USD 2,350, and a 100-hour straight average movable.

On the other hand, the price seems to be charged near USD 2,500. The first high resistance is close to USD 2,520. The main resistance is now nearly USD 2550. A clear traffic above resistance in the amount of USD 2,550 may send a price of $ 2650.

An additional break above $ 2650 may require more benefits in the upcoming sessions. In the given case, the ether may boost towards the retaining zone of 2,780 USD or even USD 2850 in the near future.

Another decrease in ETH?

If Ethereum does not remove resistance of USD 2550, he may start another decrease. Initial support on the minus is close to USD 2,400. The first earnest support is located near the USD 2360 zone or 50% of the Up Motion FIB withdrawal level from USD 2173, a swing up to USD 2550.

A clear traffic below USD 2,360 can accelerate the price for support of USD 2320. Any losses can send the price to the support level of USD 2220 in the near future. Another key support is USD 2,080.

Technical indicators

MacD hours – – MacD for ETH/USD loses the rush in the stubborn zone.

RSI hours – – RSI for ETH/USD is now above zone 50.

Main level of support – USD 2,360

Main level of resistance – USD 2550