Ethereum price is attempting a nice recovery wave above $2,100 against the US Dollar. According to famous analyst Aayush Jindal, who has made successful claims, Ethereum price can gain momentum if it settles above the $2,200 resistance zone.
- Ethereum price is slowly climbing above the $2,100 resistance zone.
- Price is now trading near the $2.150 resistance and the 100 hourly easy moving average.
- The pair must climb above $2,180 and $2,200 to start a steady rise in the near term.
There was a break above a key downtrend line with resistance near $2.100 on the hourly chart of ETH/USD (information feed via Kraken).
Ethereum (ETH) can gain momentum! So how?
As we previously reported , there was a fresh decline in Ethereum below the $2.120 support zone. However, Ethereum price continued to bid well above the $2,050 support zone. A low is formed around $2,050 before the price starts a fresh increase in a similar form to Bitcoin. Ethereum price recovered above the $2,100 and $2,120 resistance levels.
Ether even climbed above the 23.6% Fib retracement level of the key drop from the $2.405 high to $2,049 high. It is currently trading near the $2.150 resistance and the 100 hourly easy moving average. The first key resistance is near the $2,200 level. The next major resistance is near the $2,220 level, according to the analyst. This level is close to the 50% Fib retracement level of the key drop from the $2,405 high to $2,049 high.
Here are the levels you should expect for Ethereum price in the next sessions
A viable close above the $2.200 and $2.220 resistance levels could set the pace for a decent increase. The next major resistance above $2.220 could be near the $2,300 level. More interest could set the pace for a real move to $2,450 in the near term, according to the analyst. If Ethereum price fails to break above the $2,200 resistance zone, it could start a fresh decline.
On the downside, the first reinforcement is close to the $2.100 level, according to the analyst. The first major pillar is close to the $2,050 level, according to the analyst. The next major reinforcement is near the $2,000 level, according to the analyst. If the ether bulls fail to maintain the $2,050 and $2,000 reinforcement levels, a sharp decline is likely. The bears’ next stop could likely be near the $1,850 level.
Technical indicators Current view of Ethereum price
Hourly MACD: The MACD for ETH/USD is now slowly losing momentum in the bullish zone.
Hourly RSI:The RSI for ETH/USD is still above the 50 level.
Main Boost Level:2. 050 dollars.
Main Resistance Level:2. 200.