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Ethereum price rally intensifies toward $3,000Ethereum has continually led the price action this week, especially in the top ten cryptocurrencies. The pioneer smart contract token hit support at $2,000 twice last week before bulls focused on gains toward $3,000. Support at $2,000 was particularly vital to the upswing, which saw Ethereum hit highs above $2,700 and later brushed shoulders at $2,800. Ethereum relentless fight for $3,000 At the time of writing, Ethereum teeters at $2,750 as bulls concentrate on revisiting the hurdle at $2,800. However, sideways price action seems to be taking precedence based on the Relative Strength Index (RSI). The trend strength indicator levels 63 after the uptrend fizzled out before hitting the overbought. This current situation is not bad for Ethereum bulls because it shows that the token is overbought. In other words, buyers still have ample room for growth. Therefore, holding above higher support, perhaps at $2,700, will ensure that bulls don’t lose focus from the near-term target at $2,800. Note that trading above this crucial level would trigger massive gains as investors stream in to take a piece of the likely breakout at $3,000. It is worth mentioning that the Moving Average Convergence Divergence (MACD) has a bearish impulse. This follows the MACD line crossing under the signal line. If the divergence expands in the upcoming sessions, overhead pressure will rise, forcing Ether to test the tentative support at $2,700. Other critical anchor zones to keep in mind include $2,600, the 100 Simple Moving Average (SMA), and the 200 SMA. Etheruem intraday levels Spot rate: $2,750 Trend: Sideways Volatility: Low Support: $2,700, $2,600 and $2,400 Resistance: $2,800
COINBASE:ETHUSDLong
by CoinGape
ETH pivotal at $2,500 but is $3,000 achievable? Ethereum brushes shoulders with $2,500 but loses momentum. Support at $2,400 remains key to the uptrend, while gains above $2,600 could bolster Ether past $3,000. The MACD reinforces the bullish outlook, suggesting that the uptrend is intact. Ethereum tested support at $2,000 during the broad-based declines in the cryptocurrency market last week. Support at the 200 Simple Moving Average (SMA) on the four-hour chart and $2,200 played a crucial role in ensuring that the recovery is steady. On Monday, bulls increased the grip on the price by breaking above the 50 SMA and 100 SMA. As the technical levels improved, Ether closed the gap heading to $2,500. A brief break above this level saw bulls shift their attention toward the recent record high of $2,600. However, selling pressure is becoming apparent as resistance at $2,500 remains unshaken. ETH trades marginally under $2,500 amid the intense tug of war. The Relative Strength Index (RSI) shows that bears could emerge stronger, sabotaging the breakout toward $2,600 and $3,000, respectively. A bearish divergence from the price seems to reinforce the bearish outlook. Unless the RSI break above the trend line and enters the overbought region, overhead pressure will rise in the near term. Moreover, a real break past $2,500 would allow bulls to focus on gaining ground past $2,600. Trading above this level would also trigger massive buy orders as the uptrend builds toward $3,000. It is worth mentioning that the Moving Average Convergence Divergence (MACD) has a bullish impulse. The MACD line increases the divergence from the signal line while the indicator holds within the positive region. If this technical outlook holds, Ethereum will settle above $2,500, setting the framework for gains eyeing $3,000. Ethereum intraday levels Spot rate: $2,502 Trend: pivotal at $2,500 Volatility: Low Support: $2,400, $2,200 and $2,000 Resistance: $2,600
COINBASE:ETHUSD
by CoinGape
ETH makes incredible strides toward $2,550 record highs Ethereum ignores crypto selloff to post considerable single-digit gains toward $2,550. The MACD and the RSI affirm the bullish outlook in the near term. Ethereum is among the best-performing digital assets in the cryptocurrency market following the retreat from record highs of $2,550. The pioneer smart contract token tested support at $2,000 twice before staging the ongoing recovery mission. Several resistance levels have been overcome, including the 100 Simple Moving Average (SMA) at $2,200, the 50 SMA and $2,400. At the time of writing, ETH dances at $2,415 while bulls fight for a breakout past $2,500. The immediate downside is supported by the 50 SMA, allowing bulls to focus on higher price levels. The bullish outlook has been reinforced by the Moving Average Convergence Divergence (MACD). The confirmation appeared after the MACD line crossed above the signal line, besides the indicator has reentered the positive region. Consequently, the Relative Strength Index (RSI) on the four-hour chart affirms that the trend is in the bulls’ hands. This indicator follows the movement of an asset and measures its strength. As it closes the gap toward the overbought region, Ethereum’s uptrend becomes apparent. A break above $2,500 would be a significant signal for more buyers to join the market. If enough buying pressure is created behind ETH, the price will begin the next chapter of the run to new all-time highs around $3,000. It is worth mentioning that closing the under $2,500 would lead to an increase in overhead pressure. Besides, the position above the 50 SMA must be sustained; otherwise, Ethereum may freefall to retest support at $2,200 and $2,000, respectively. Ethereum intraday levels Spot rate: $2,415 Trend: High Volatility: High Support: 50 SMA, $2,200 and $2,000 Resistance: $2,500 and $2,550
COINBASE:ETHUSDLong
by CoinGape
ETH tumbles to $2,000 as losses to $2,000 linger Ethereum rejected at the 50 SMA on the four-hour chart. Ether bulls battle to secure immediate support at $2,000, highlighted by the 100 SMA. The least resistance path is south, but support at $2,000 may bring back market stability. Ethereum bounced off support at $2,000 amid the weekend session declines. Bulls fought around the clock to reclaim most of the ground to $2,500, but the uptrend stalled under the 50 Simple Moving Average (SMA) on the four-hour chart. Recovery became a challenging task, allowing bears to swing into action. Ethereum technical levels worsen The four-hour chart suggests that the short-term technical levels have weakened in the last 24 hours. The Moving Average Convergence Divergence (MACD) indicator failed to secure the ground within the positive region. The slide into the negative territory is a massive bearish signal. The gravitational force is accentuated by the MACD line (blue) crossing under the signal line. As the signal line’s divergence widens, the bearish grip gets more vigorous. In the meantime, Ethereum trades around $2,100 amid increasing overhead pressure due to the 100 SMA at $2,200. Losses to $2,000 beckon amid the bearish picture. The 200 SMA is in line to offer support; however, if lost, declines may extend to the next anchor zone at $1,800. It is worth keeping in mind that if support at $2,000 holds, a rebound such as Sunday may occur. Reclaiming the ground above the 50 SMA could trigger massive buy orders as investors speculate the rise to $2,500. Ethereum intraday levels Spot rate: $2,095 Trend: Bearish Volatility: High Support: 200 SMA and $1,800 Resistance. The 100 SMA and 50 SMA on the four-hour chart
COINBASE:ETHUSDShort
by CoinGape