• 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
  • Spin & 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
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Ethereum
Nexo Logo

TA: Ethereum Skyrockets To $1,000, Why ETH Could Rally Further To $1,200

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

Ethereum surged over 25% and it even broke $1,000 against the US Dollar. ETH price is trading in a strong uptrend and the monthly chart suggests a test of $1,200 in the near term.

  • Ethereum is surging and it broke many hurdles near $800 and $900.
  • The price is now trading above the $1,000 level and the 100-month simple moving average.
  • There was a break above a couple of bullish continuation patterns near $500 on the monthly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to continue higher above the $1,050 and $1,120 resistance levels in the near term.

Ethereum Price Surges 25%

In the past two days, there was a massive increase in Ethereum above the $700 resistance level. ETH price gained over 25% and it broke many important hurdles near the $800 zone.

To start with, there was a break above a couple of bullish continuation patterns near $500 on the monthly chart of ETH/USD. It opened the doors for a steady increase above $600 and $700. There was also a decent close above the $750 level and the 100-month simple moving average.

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

Ether price climbed nicely above the 50% Fib retracement level of the main decline from the $1,595 all-time high to $82 swing low. The price is now trading nicely above the $950 and $1,000 levels.

Ethereum Price

Source: ETHUSD on TradingView.com

It is testing the 61.8% Fib retracement level of the main decline from the $1,595 all-time high to $82 swing low. It seems like the bulls are eyeing a clear break above the $1,050 and $1,080 levels. If they succeed, the next major stop for them could be near the $1,200 level or $1,238.

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

The 76.4% Fib retracement level of the main decline from the $1,595 all-time high to $82 swing low is near $1,238 to act as a short-term hurdle. Any more upsides might call for a push towards the $1,595 all-time high (formed on Kraken).

Dips Supported in ETH?

If ethereum fails starts a downside correction, an initial support on the downside might be near the $950 level. The first major support is near the $920 level.

The main breakout zone was near $840, which is now likely to act as a strong support. Any more losses might call for a test of the $750 level.

Technical Indicators

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

Monthly RSI – The RSI for ETH/USD is now above the 60 level.

Major Support Level – $840

Major Resistance Level – $1,238

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 Reclaims $2K, Why Upsides Could Be Limited Above $2.2K

1 week ago
Ethereum Price ETH

TA: Ethereum Dives 15%, Why Close Below $2K Is The Key

1 week ago
Ethereum

TA: Ethereum Nears Breakout Zone, Why ETH Might Start Recovery

1 week ago
Ethereum

TA: Ethereum Bears Aim Big After Recent Breakdown Below $2.5K

2 weeks ago
Ethereum

TA: Ethereum Takes Hit, Why ETH Could Plunge Below $2,700

2 weeks ago
Ethereum (ETH)

TA: Ethereum Regains Strength But $3K Is Still A Major Hurdle

2 weeks ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

NFCore (NFCR) Is Now Available for Trading on LBank Exchange

May 20, 2022

How to Gain Great Sums with Quitriam Finance (QTM), Cosmos (ATOM), Flow (FLOW)?

May 20, 2022

3 Cryptocurrencies that could give you Greater Gains: Mushe Token (XMU), Cardano (ADA), and Polkadot (DOT)

May 20, 2022

Award-winning Crypto Game, Stonk League Introduces GameFi Player Rankings

May 20, 2022

You Play You Earn: How Gaming Finance (GameFi) Can Disrupt the Cryptocurrency Market?

May 20, 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
  • Spin & 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.