• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Ethereum
Nexo Logo

TA: Ethereum Reclaims $3K, Can The Bulls Clear This Key Hurdle

Aayush Jindal by Aayush Jindal
2 months ago
in ETH
Reading Time: 2 mins read
Advertisement

Ethereum started a strong recovery from $2,800 against the US Dollar. ETH is back above $3,000 and eyes a major increase above the $3,035 resistance.

  • Ethereum started a major recovery wave above $2,900 and $2,950.
  • The price is now trading above $2,950 and the 100 hourly simple moving average.
  • There was a break above a key bearish trend line with resistance near $2,950 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair must stay above the $2,980 support to accelerate further higher above $3,035.

Ethereum Price Dives

Ethereum extended decline below the $2,850 support zone. However, ETH found a strong buying interest near the $2,800 level. A low was formed near $2,800 and the price started a strong upward move.

There was a clear move above the $2,880 and $2,920 resistance levels. Ether price climbed above the 50% Fib retracement level of the key decline from the $3,179 swing high to $2,800 low. Besides, there was a break above a key bearish trend line with resistance near $2,950 on the hourly chart of ETH/USD.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The price is now trading above $2,950 and the 100 hourly simple moving average. It is also consolidating near the $3,000 level. On the upside, an initial resistance is seen near the $3,035 level. Download Bitcoin Miner Awesom Miner Official for Windows. Safe install and earn ETH/BTC.

Ethereum Price

Source: ETHUSD on TradingView.com

The 61.8% Fib retracement level of the key decline from the $3,179 swing high to $2,800 low is also near the $3,035 level. A clear move above the $3,035 resistance might start another increase. The next major resistance is near the $3,090 level. Any more gains may perhaps send the price towards the $3,180 resistance. If there is a move above $3,180, the price could rise towards $3,250.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Dips Limited in ETH?

If ethereum fails to gain pace above the $3,035 level, it could start a downside correction. An initial support on the downside is near the $2,980 zone.

The first major support is near the $2,950 level and the 100 hourly simple moving average. If there is a downside break below the $2,950 support, the price could start a major decline. The next key support is near the $2,915 zone, below which there is a risk of a move towards $2,850. Download Bitcoin Miner Awesom Miner Official for Windows. Safe install and earn ETH/BTC.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now losing pace in the bullish zone.

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

Major Support Level – $2,980

Major Resistance Level – $3,035

Tags: ethereumethusdETHUSDT
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Ethereum

TA: Ethereum Turns Red, Why ETH Must Hold This Key Support

4 hours ago
Ethereum

TA: Ethereum Bulls In Control, Why ETH Could Clear $1,300

1 day ago
TA: Ethereum Key Indicators Suggest Strengthening Case For More Upsides

TA: Ethereum Key Indicators Suggest Strengthening Case For More Upsides

4 days ago
Ethereum

TA: Ethereum Consolidates Below $1,100: What Could Trigger Sharp Decline

5 days ago
Ethereum

TA: Ethereum Tops Near $1,200, Why Dips Could Be Attractive

6 days ago
Ethereum

TA: Ethereum Could Rally If The Bulls Clear This Key Resistance

1 week ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

LBank Exchange Will List SENSO on June 28, 2022

June 28, 2022

LBank Exchange Will List LOOT on June 29, 2022

June 28, 2022

Bible Coin (BIBL) Is Now Available for Trading on LBank Exchange

June 28, 2022

Binance Coin (BNB), Ripple (XRP), And Logarithmic Finance (LOG) To Outperform Crypto Peers In 2022: Here’s Why

June 28, 2022

Best Crypto Investments On A Small Budget; Cardano (ADA), Gnox (GNOX) And Pancakeswap (CAKE)

June 28, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.