Crypto Currency Tracker logo Crypto Currency Tracker logo
NewsBTC 2022-10-06 04:28:23

TA: Ethereum Price Looks Ready For Another Leg Higher Over $1,500: Here’s Why

Ethereum is showing positive signs above the $1,350 resistance zone against the US Dollar. ETH could gain bullish momentum if there is a clear move above the $1,400 resistance. Ethereum is gaining pace and recently traded above the $1,375 level. The price is now trading above $1,350 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,355 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if there is a clear move above the $1,400 resistance. Ethereum Price Remains Supported Ethereum remained well bid above the $1,300 and $1,310 levels. ETH formed a base above the $1,320 level and started a fresh increase above the $1,3330 level. There was a steady increase above the $1,350 resistance level and the 100 hourly simple moving average. Besides, there was a break above a major bearish trend line with resistance near $1,355 on the hourly chart of ETH/USD. The pair even climbed above the $1,375 resistance zone. A high was formed near $1,385 and the price is now consolidating gains. Ether price is trading above $1,350 and the 100 hourly simple moving average. It is now trading near the 23.6% Fib retracement level of the upward move from the $1,316 swing low to $1,385 high. On the upside, the price is facing resistance near the $1,385 zone. The first major resistance is seen near the $1,400 level. Source: ETHUSD on TradingView.com A clear...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.