Ethereum Starts Fresh Surge, Here’s How ETH Could Rally to New ATH

Ethereum found support near $2,150 and started a fresh increase against the US Dollar. ETH price is showing positive signs and it could soon rally above $2,500.

Ethereum formed a support base above $2,150 and recently started a fresh increase.
The price is now trading well above $2,400 and the 100 hourly simple moving average.
There was a break above a major contracting triangle with resistance near $2,340 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is showing bullish signs and it could even surge above $2,500 in the near term.

Ethereum Price Climbs above $2,400
Ethereum remained stable above the $2,120 and $2,150 levels. ETH formed a support base above $2,150 and recently started a fresh increase above $2,200.
There was a strong upward move above the $2,250 and $2,300 resistance levels. There was also a break above a major contracting triangle with resistance near $2,340 on the hourly chart of ETH/USD.
The pair is now trading well above $2,400 and the 100 hourly simple moving average. There was a break above the 50% Fib retracement level of the recent decline from the $2,645 high to $2,106 swing low. Ether is now consolidating above the $2,400 level.

Source: ETHUSD on TradingView.com
An immediate resistance is near the $2,480 level. The next key resistance is near the $2,520 level. It is near the 76.4% Fib retracement level of the recent decline from the $2,645 high to $2,106 swing low. A successful break above the $2,520 level could open the doors for a fresh high above the $2,650 zone in the near term.
Dips Supported in ETH?
If Ethereum fails to extend gains above $2,500, there could be a downside correction. An immediate support is near the $2,420 level. The first key support is near the $2,250 level and the broken triangle zone.
Any more losses might call for a test of the 100 hourly simple moving average at $2,300. If there is a close below the 100 hourly SMA, there could be a fresh bearish wave towards the $2,150 support zone in the near term.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now well above the 60 level.
Major Support Level – $2,350
Major Resistance Level – $2,500

Avatar

Related Articles

- Advertisement -

Latest Articles

bitcoin
Bitcoin (BTC) $ 16,836.47
ethereum
Ethereum (ETH) $ 1,233.93
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 283.80
usd-coin
USD Coin (USDC) $ 1.00
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.383211
dogecoin
Dogecoin (DOGE) $ 0.095900
cardano
Cardano (ADA) $ 0.309037
matic-network
Polygon (MATIC) $ 0.888115
polkadot
Polkadot (DOT) $ 5.27
staked-ether
Lido Staked Ether (STETH) $ 1,219.55
litecoin
Litecoin (LTC) $ 77.13
shiba-inu
Shiba Inu (SHIB) $ 0.000009
okb
OKB (OKB) $ 20.92
dai
Dai (DAI) $ 1.00
solana
Solana (SOL) $ 13.60
tron
TRON (TRX) $ 0.053269
uniswap
Uniswap (UNI) $ 6.00
avalanche-2
Avalanche (AVAX) $ 13.20
leo-token
LEO Token (LEO) $ 3.78
chainlink
Chainlink (LINK) $ 6.85
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 16,776.23
cosmos
Cosmos Hub (ATOM) $ 9.56
the-open-network
The Open Network (TON) $ 1.82
ethereum-classic
Ethereum Classic (ETC) $ 18.71
monero
Monero (XMR) $ 141.96
stellar
Stellar (XLM) $ 0.084283
bitcoin-cash
Bitcoin Cash (BCH) $ 109.19
quant-network
Quant (QNT) $ 116.90
crypto-com-chain
Cronos (CRO) $ 0.064296
algorand
Algorand (ALGO) $ 0.221497
filecoin
Filecoin (FIL) $ 4.32
near
NEAR Protocol (NEAR) $ 1.69
apecoin
ApeCoin (APE) $ 3.88
vechain
VeChain (VET) $ 0.018738
hedera-hashgraph
Hedera (HBAR) $ 0.046973
internet-computer
Internet Computer (ICP) $ 4.18
eos
EOS (EOS) $ 0.999212
flow
Flow (FLOW) $ 1.04
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 44.12
frax
Frax (FRAX) $ 0.999568
trust-wallet-token
Trust Wallet (TWT) $ 2.45
terra-luna
Terra Luna Classic (LUNC) $ 0.000165
axie-infinity
Axie Infinity (AXS) $ 8.62
the-sandbox
The Sandbox (SAND) $ 0.580640
tezos
Tezos (XTZ) $ 0.987556
theta-token
Theta Network (THETA) $ 0.873775
aave
Aave (AAVE) $ 60.83
huobi-token
Huobi (HT) $ 6.33