ETHEREUM price extended the increase higher than the $ 2500 region. ETH is now correcting the gains and may review the support area of $ 2,350.
- Ethereum started a negative correction of $ 2,600 resistance.
- The price is traded over $ 2400 and the simple moving average is 100 hours.
- There was a lower break from the upcoming bullish trend line at 2,500 dollars on the ETH/USD (data feeding).
- The husband can find offers approaching $ 2,350 and start a new increase in the short term.
Ethereum price aims to increase
The price of Ethereum remained supported and began to increase a new increase above $ 2,350, overcoming bitcoin. ETH gained a pace for a move over the $ 2400 resistance area.
The bulls were able to pay the price over the 2,550 -dollar resistance area. The price gained more than 35 % and recently tested the 2600 dollar resistance area. A height has been formed at $ 2,624 and the prices are now correcting the gains. There was a slight decrease less than the REERERERMENT level by 50 % of the upward transition from the oscillation decrease of $ 272 to an increase of $ 2624.
There was a lower break from the upcoming ups in support at $ 2,500 on the ETH/USD. However, the bulls are still active above $ 2400. The ETHEREUM price is now trading over $ 2400 and the simple moving average is 100 hours.
On the upper side, the price appears to face obstacles near the level of $ 2,500. The following main resistance is located near the level of $ 2,550. The first large resistance approaches the level of $ 2620. A clear step on $ 2,620 may send the price to 2650 dollars.
The climbing break over the resistance of $ 2650 may require more gains in the upcoming sessions. In the aforementioned case, the ether may rise towards the resistance area of $ 2720 or even $ 2780 in the near term.
More losses in ETH?
If Ethereum fails to scan $ 2500 resistance, a new negative correction may start. Initial support on the downside is near the level of $ 2400. The first main support is located near the $ 2,350 region and the REERERENT 76.4 % level of FIB from the upward transition from the decrease of 272 dollars to an increase of $ 2,624.
The clear step may lead to a support of $ 2,350 to pay the price towards $ 2,275 support. Any other losses may send the price towards the support level of $ 2220 in the short term. The next main support sits at $ 2,200.
Technical indicators
Every MACD watch – MACD for ETH/USD loses momentum in the upper area.
Every RSI watch – RSI for ETH/USD is now less than area 50.
Main support level – $ 2,350
The main resistance level – $ 2500
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