Ethereum price is attempting a decent recovery wave above $2,100 against the US Dollar. According to famous analyst Aayush Jindal, who has made successful predictions, Ethereum price could gain momentum if it settles above the $2,200 resistance zone.
- Ethereum price is slowly climbing above the $2,100 resistance zone.
- Price is currently trading near the $2.150 resistance and the 100 hourly simple movement average.
- There was a break above a key downtrend line with resistance near $2.100 on the saadollarsik chart of ETH/USD (data feed via Kraken).
- The pair must climb above $2,180 and $2,200 to start a steady rise in the near term.
Ethereum (ETH) can gain momentum! So how?
Cryptocoin. com, 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 similar 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. Currently, ETH is trading near the $2,150 resistance and the 100 hourly simple movement average. The first key resistance is near the $2,200 level. The next major resistance is near the $2,220 level. 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. Any further gains could set the pace for a move towards the $2,450 level in the near term. If Ethereum price fails to break above the $2,200 resistance zone, it could start a fresh decline.
Initial support on the downside is near the $2,100 level. The first major support is near the $2,050 level. The next major support is near the $2,000 level. If the ether bulls fail to sustain the $2,050 and $2,000 support levels, a sharp decline is likely. The bears’ next stop is likely near the $1,850 level.
Technical indicators Current view of Ethereum price
Saadollarsik MACD:The MACD for ETH/USD is now slowly losing momentum in the bullish zone.
Saadollarsik RSI:The RSI for ETH/USD is still above the 50 level.
Main Support Level:2. 050 dollars.
Main Resistance Level:2. 200.