News Crypto and cryptocurrencies

Ethereum struggles to push itself even higher

Ethereum tries to keep his earnings above the 3.800 level US dollars. The price of ETH is indeed struggling to consolidate $ 3.880, but could accelerate higher. Thus, after making another attempt to gain strength above the 3.850 ETH level, the cryptocurrency failed to push higher, ending up forming a high near $ 3.891 before a downward correction.

The price fell below the $ 3.850 and $ 3.820 levels. Furthermore, there was a break below the 50% Fibonacci retracement level of the upward move from the low of $ 3.681 to $ 3.891. However, the bulls were found to be quite active near the $ 3.750 zone and the 100-hour simple moving average. From here it found support near the 61.8% Fibonacci retracement level of the upward move from the low of $ 3.681 to $ 3.891. There is also a key bullish trend line forming with support near $ 3.800 on the ETH / USD hourly chart.

Il price of the Ether it is now trading above $ 3.800 and the 100-hour simple moving average. Immediate resistance is near the $ 3.850 level. The next major resistance is near the $ 3.880 level. A clear break above the $ 3.880 level could push the price towards $ 4.000. Any other gains could send the price towards the $ 4.120 level. The next major resistance is near the $ 4.250 level.

On the other hand, if Ethereum fails to initiate a new rise above the $ 3.850 level, it could continue to move downwards. A first bearish support is near the $ 3.800 level.

The first key support is forming near the $ 3.740 level. A break down below the $ 3.740 level could lead the price towards the key support of $ 3.680 in the near term. The next major support is near the $ 3.600 level.

 

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Roberto Rais

A great cryptocurrency expert and a long time collaborator. He actively follows several specialized Blogs in the cryptocurrency sector as Editors

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