Cryptomismatist

Latest Crypto News

Menu
  • Home
  • Bitcoin
  • Ethereum
  • Crypto
  • Blockchain
  • Regulation
  • Market
  • NFTs
  • Member Login
Menu

Ethereum Outpaces Bitcoin, Here’s Why ETH Could Surpass $2,880

Posted on June 7, 2021 by admin


Ethereum started a fresh increase from the $2,550 support zone against the US Dollar. ETH price is rising, and it is likely to accelerate higher if it breaks $2,880.

  • Ethereum is showing positive signs above the $2,750 resistance zone.
  • The price is well above the $2,700 support and the 100 hourly simple moving average.
  • There was a break above a major bearish trend line with resistance near $2,750 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a strong increase if there is no break below the 100 hourly SMA and $2,700.

Ethereum Price Is Eyeing More Upsides

After retesting the key $2,550 support zone, ethereum started a fresh increase above the $2,650 resistance zone. ETH gained pace above the $2,700 and $2,720 levels.

The price gained pace above the 50% Fib retracement level of the of the downward move from the $2,814 swing high to $2,548 low. There was also a break above a major bearish trend line with resistance near $2,750 on the hourly chart of ETH/USD.

The pair is now well above the $2,700 support and the 100 hourly simple moving average, unlike bitcoin. Ether is also above the 76.4% Fib retracement level of the of the downward move from the $2,814 swing high to $2,548 low. An immediate resistance is near the $2,814 high.

Ethereum Price

Source: ETHUSD on TradingView.com

The first major resistance is near the $2,850 level. The main hurdle is near the $2,880 level. A clear upside break above the $2,880 level could set the pace for a larger increase. In the stated case, the price could test the $3,000 level.

Dips Supported in ETH?

If Ethereum fails to clear the $2,800 and $2,850 resistance levels, it could start a downside correction. An initial support on the downside is near the $2,750 level.

The main support is now forming near the $2,650 level and the 100 hourly SMA. A downside break below $2,650 and the 100 hourly SMA could open the doors for a larger decline. The next major support sits near the $2,550 zone, below which the price is likely to move into a bearish zone.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently above the 50 level.

Major Support Level – $2,650

Major Resistance Level – $2,850



Source link

  • Bitcoin
  • ETH
  • Ethereum
  • Heres
  • Outpaces
  • Surpass
  • Leave a Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    Archives

    • June 2022
    • May 2022
    • April 2022
    • December 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021

    Categories

    • Altcoin
    • Bitcoin
    • Blockchain
    • Cryptocurrency
    • Dogecoin
    • Ethereum
    • Market
    • NFTs
    • Regulation

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    Categories

    • Altcoin
    • Bitcoin
    • Blockchain
    • Cryptocurrency
    • Dogecoin
    • Ethereum
    • Market
    • NFTs
    • Regulation
    ©2022 Cryptomismatist | Design: Newspaperly WordPress Theme
    • bitcoinBitcoin(BTC)$21,402.001.91%
    • ethereumEthereum(ETH)$1,226.676.36%
    • HEXHEX(HEX)$0.1290085.45%
    • tetherTether(USDT)$1.000.25%
    • usd-coinUSD Coin(USDC)$1.00-0.02%
    • binancecoinBNB(BNB)$238.072.55%
    • rippleXRP(XRP)$0.370221-2.53%
    • Binance USDBinance USD(BUSD)$1.00-0.40%
    • cardanoCardano(ADA)$0.501.54%
    • SolanaSolana(SOL)$41.998.97%