ETHEREUM (Technical Analysis) ✅
Updated
☑️ #Ethereum was able to continue its uptrend movement above the $ 3,500 resistance. Now with the power in this range, there is a possibility of rising to $ 3,800.
#ETH started a new uptrend after overcoming the $ 3,450 resistance. It then managed to break the $ 3,500 resistance level and the 100-hour moving average.
The uptrend was so strong that even the $ 3,600 level was reached. Ethereum is currently stabilizing at its current high of $ 3,620. It has fallen below $ 3,600 so far and the 23.6% Fibonacci retracement level has climbed from $ 3,361 to $ 3,620.
The ETH/USD pair chart also shows a bullish trend line with support at around $ 3,580. We consider the nearest resistance level upstream to around $ 3,580.
The first strong resistance is the $ 3,600 level. Climbing and closing the top of the candle will probably take the ETH to higher levels. The next significant resistance is at $ 3,720. By crossing it, the conditions for moving to $ 3,800 will be adjusted.
But if Ethereum is unable to climb above the $ 3,600 resistance, a bearish correction will be imminent. In this case, the nearest support level downstream is around $ 3,520.
Below that, the $ 3,500 range and trend line appear to be strong support. The 50% Fibonacci level is near the same level. As support for this range collapses, the $ 3,450 support will likely be tested.
#ETH started a new uptrend after overcoming the $ 3,450 resistance. It then managed to break the $ 3,500 resistance level and the 100-hour moving average.
The uptrend was so strong that even the $ 3,600 level was reached. Ethereum is currently stabilizing at its current high of $ 3,620. It has fallen below $ 3,600 so far and the 23.6% Fibonacci retracement level has climbed from $ 3,361 to $ 3,620.
The ETH/USD pair chart also shows a bullish trend line with support at around $ 3,580. We consider the nearest resistance level upstream to around $ 3,580.
The first strong resistance is the $ 3,600 level. Climbing and closing the top of the candle will probably take the ETH to higher levels. The next significant resistance is at $ 3,720. By crossing it, the conditions for moving to $ 3,800 will be adjusted.
But if Ethereum is unable to climb above the $ 3,600 resistance, a bearish correction will be imminent. In this case, the nearest support level downstream is around $ 3,520.
Below that, the $ 3,500 range and trend line appear to be strong support. The 50% Fibonacci level is near the same level. As support for this range collapses, the $ 3,450 support will likely be tested.
Note
Update:(4-Hour Chart)
Ethereum break the $3600 resistance area and now trading above it. ETH candle closes above the resistance area. The next resistance is $3700 and $3820 - $3840 area. Hold your ETH bags, market looks good.
Note
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