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Ethereum price has started a new increase over the $ 2750 region. ETH is now correcting the gains and it may test the support area of $ 2680.
- Ethereum has started a new increase above the level of $ 2800.
- The price is traded above 2,750 dollars and a simple moving average 100 hours.
- There was a lower break from the main bullish trend line that is formed with support at $ 2800 on the ETH/USD graph (Data Feeding through Kraken).
- The husband can start with a new increase if she remains above $ 2680 in the short term.
Ethereum price corrects the gains
Ethereum price started New increase After I found support near the level of $ 2,550, beating Bitcoin. ETH price was able to scan 2,650 dollars resistance levels and $ 2,720.
The bulls paid the price above 2800 dollars. Eth until it rose above $ 2,850. A height has been formed at $ 2,880 and the price is now correcting the gains. There was a step less than the level of FIB re -declining by 23.6 % of the bullish transition from the decrease in oscillation of $ 2,483 to an increase of $ 2,880.
Moreover, there was a lower break than the main bullish trend line that is formed with support at $ 2800 on the watch chart of ETH/USD. ETHEREUM price is now trading above $ 2,750 and a simple moving average for 100 hours.
On the upper side, the price may face resistance near the level of $ 2800. The next main resistance is close to the level of $ 2840. The first main resistance is near the level of $ 2880. You may send a clear step over $ 2,880 resistance, the price is about $ 2920 resistance.
The bullish trend break on $ 2,920 resistance may require more gains in the upcoming sessions. In the aforementioned case, the ether may rise towards the resistance area of $ 3,000 or even $ 3,120 in the near term.
More losses in ETH?
If Ethereum fails to scan $ 2,820 resistance, it may start a new decrease. Initial support on the negative side is near the level of $ 2755. The first main support is located near the $ 2,680 region and the REERERENT 50 % level of FIB for the bullish move from the decrease of 28,483 dollars to an increase of $ 2880.
A clear step below the support of $ 2,680 may pay the price towards $ 2620. Any other losses may send the price to the support level of $ 2550 in the short term. The next main support sits at $ 2,500.
Technical indicators
Every MACD watch – MACD for ETH/USD loses momentum in the upper area.
Every RSI watch – RSI for ETH/USD is now less than area 50.
Main support level – $ 2,680
The main resistance level – $ 2,880
