Ethereum Settles Above $700, Why ETH Could Surge To $765

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 is up over 10% and it broke the $700 resistance zone against the US Dollar. ETH price is consolidating gains and it could rally further to $750 and $765.

  • Ethereum started a strong increase above the $650 and $680 resistance levels.
  • The price is now trading nicely above $700 and the 100 hourly simple moving average.
  • There is a key bullish trend line forming with support near $655 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could resume its upward move towards the $750 and $765 resistance levels.

Ethereum Price Settles Above $700

After forming a support base above $620, Ethereum saw a strong increase above the $650 resistance level. ETH price remained well above $650 level and settled nicely above the 100 hourly simple moving average.

During the increase, there was a break above a rising channel with resistance near $662 on the hourly chart of ETH/USD. It opened the doors for more upsides above the $680 and $700 resistance level. Ether price traded to a new yearly high at $717 before starting a consolidation phase (similar to bitcoin).

It is currently consolidating above the $700 level. It even tested the 23.6% Fib retracement level of the recent increase from the $663 swing low to $717 high.

Source: ETHUSD on TradingView.com

There are many supports forming on the downside, starting with $690. It is close to the 50% Fib retracement level of the recent increase from the $663 swing low to $717 high. On the upside, the $718-$720 resistance zone is a major hurdle for the bulls.

A clear break above the $720 resistance will most likely open the doors for more upsides. The next major resistance is near the $750 level, above which ether could test $765.

Dips Supported in ETH?

If ethereum fails to surpass the $718 and $720 resistance levels, it could correct lower. An initial support on the downside is near the $695 level.

The first major support is near the $690 level. The main support is now forming near the $650 level. There is also a key bullish trend line forming with support near $655 on the on the same chart.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly gaining momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is currently well above the 50 level.

Major Support Level – $690

Major Resistance Level – $720

Source link

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