{"id":112007,"date":"2021-02-10T05:55:55","date_gmt":"2021-02-10T05:55:55","guid":{"rendered":"https:\/\/precoinnews.com\/?p=112007"},"modified":"2021-02-10T05:55:55","modified_gmt":"2021-02-10T05:55:55","slug":"ta-ethereum-sets-new-ath-why-eth-could-continue-higher-to-1950","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-ethereum-sets-new-ath-why-eth-could-continue-higher-to-1950\/","title":{"rendered":"TA: Ethereum Sets New ATH, Why ETH Could Continue Higher To $1,950"},"content":{"rendered":"
Ethereum extended its rise and traded to a new all-time high at $1,830 against the US Dollar. ETH price is trading in a positive zone and it looks set for more gains towards $1,900.<\/em><\/p>\n After spiking above the $1,800 level, Ethereum started a short-term downside correction (similar to bitcoin). ETH corrected below $1,760, but it remained stable above $1,720.<\/p>\n As a result, there was a fresh increase above the $1,800 level. Ether price even traded to a new all-time high near $1,830 and settled well above the 100 hourly simple moving average. It is now showing positive signs above the $1,800 level.<\/p>\n An initial support is near the $1,790 level. It is close to the 50% Fib retracement level of the recent wave from the $1,755 swing low to $1,830 high. There is also a major ascending channel forming with support near $1,760 on the hourly chart of ETH\/USD.<\/p>\n <\/p>\n Source: ETHUSD on TradingView.com<\/p>\n An intermediate support is near the $1,770 level. It coincides with the 76.4% Fib retracement level of the recent wave from the $1,755 swing low to $1,830 high.<\/p>\n On the upside, the price is facing resistance near the $1,830 and $1,850 levels. A proper break above $1,850 might start a steady increase above $1,880. In the stated case, the price may even break the $1,900 level and continue higher towards the $1,950 level.<\/p>\n If Ethereum fails to clear the $1,830 and $1,850 resistance levels, it could correct lower. On the downside, the first major support is near the $1,770 level.<\/p>\n The next major support is near the channel support at $1,760. Any more losses may possibly lead the price towards the $1,700 level and the 100 hourly simple moving average.<\/p>\n Technical Indicators<\/p>\n Hourly MACD – <\/strong>The MACD for ETH\/USD is slowly gaining momentum in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is still well above the 50 level.<\/p>\n Major Support Level – $1,760<\/p>\n Major Resistance Level – $1,850<\/p>\n\n
Ethereum Price Remains Elevated<\/h2>\n
Dips Supported in ETH?<\/h2>\n