ETH has established itself above the $ 3,200 and $ 3,350 price levels, and will now be prone to a new uptrend if it rises above $ 3,450 and $ 3,500.
Ethereum started a new uptrend with the formation of a strong support base in the range of $ 3,000. It then entered a promising atmosphere by climbing above the resistance levels of $ 3,150 and $ 3,200.
Condley then closed above the $ 3,300 price level and moved away from the 100-hour moving average. So far, the highest price for the ETH trade in this round has been $ 3,489, and the price has just had a bearish correction. As a result, $ 3,400 support was lost and the 23.6% Fibonacci retracement level of the uptrend from the $ 2,970 floor to the $ 3,489 ceiling was broken.
In the chart, the ETH / USD pair also collapsed the support that the downtrend line had created in the range of $ 3,400. ETH is currently trading above $ 3,320 support.
In this case, the nearest resistance level upstream is in the same range of $ 3,400. So the first significant resistance is considered at $ 3,420. Crossing it will probably be the beginning of an integrated uptrend. The higher main resistance is in the $ 3,500 range; Ascending to the top is expected to gain more serious and rapid upward movement.
But if Ethereum is unable to cross the $ 3,420 and $ 3,500 resistance levels, a new bearish correction is likely to begin. In this case, the nearest downstream support level is around $ 3,300.
The key support level is in the $ 3,250 range and the moving average curve; The range where the 50% Fibonacci level is observed. With its collapse, ETH could fall to the $ 3,000 support base.
Ethereum started a new uptrend with the formation of a strong support base in the range of $ 3,000. It then entered a promising atmosphere by climbing above the resistance levels of $ 3,150 and $ 3,200.
Condley then closed above the $ 3,300 price level and moved away from the 100-hour moving average. So far, the highest price for the ETH trade in this round has been $ 3,489, and the price has just had a bearish correction. As a result, $ 3,400 support was lost and the 23.6% Fibonacci retracement level of the uptrend from the $ 2,970 floor to the $ 3,489 ceiling was broken.
In the chart, the ETH / USD pair also collapsed the support that the downtrend line had created in the range of $ 3,400. ETH is currently trading above $ 3,320 support.
In this case, the nearest resistance level upstream is in the same range of $ 3,400. So the first significant resistance is considered at $ 3,420. Crossing it will probably be the beginning of an integrated uptrend. The higher main resistance is in the $ 3,500 range; Ascending to the top is expected to gain more serious and rapid upward movement.
But if Ethereum is unable to cross the $ 3,420 and $ 3,500 resistance levels, a new bearish correction is likely to begin. In this case, the nearest downstream support level is around $ 3,300.
The key support level is in the $ 3,250 range and the moving average curve; The range where the 50% Fibonacci level is observed. With its collapse, ETH could fall to the $ 3,000 support base.
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