{"id":122074,"date":"2021-04-21T06:02:39","date_gmt":"2021-04-21T06:02:39","guid":{"rendered":"https:\/\/precoinnews.com\/?p=122074"},"modified":"2021-04-21T06:02:39","modified_gmt":"2021-04-21T06:02:39","slug":"ta-ethereum-reclaims-100-sma-what-does-this-means-for-the-bulls","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-ethereum-reclaims-100-sma-what-does-this-means-for-the-bulls\/","title":{"rendered":"TA: Ethereum Reclaims 100 SMA, What Does This Means For the Bulls"},"content":{"rendered":"<p><em>Ethereum remained strong above the $2,200 level and it climbed higher against the US Dollar. ETH price is back above the 100 hourly SMA and it is signaling more upsides above $2,400.<\/em><\/p>\n<ul>\n<li>Ethereum gained pace and it cleared the $2,300 resistance zone.<\/li>\n<li>The price is now trading well above $2,300 and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a crucial bearish trend line with resistance near $2,175 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is showing positive signs and it is likely to continue higher above $2,400.<\/li>\n<\/ul>\n<h2>Ethereum Price Is Gaining Pace<\/h2>\n<p>Ethereum remained well bid above the $2,100 zone. As a result, ETH started a fresh increase above the $2,180 and $2,200 resistance levels.<\/p>\n<p>There was a clear break above a crucial bearish trend line with resistance near $2,175 on the hourly chart of ETH\/USD. It opened the doors for a steady increase above the $2,250 and $2,300 resistance levels.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/03\/spring-cta-2.gif\" \/><br \/>\n<img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/03\/AD2_728x90.gif\" \/><\/p>\n<p>Ether climbed above the 61.8% Fib retracement level of the key decline from the $2,500 swing high to $1,950 swing low. It is now trading well above $2,300 and the 100 hourly simple moving average. An immediate resistance is near the $2,350 level.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/04\/Ethereum-13.png\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>The first key resistance is near the $2,370 level. It is near the 76.4% Fib retracement level of the key decline from the $2,500 swing high to $1,950 swing low. A clear upside break above the $2,350 and $2,370 levels could set the pace for a surge above the $2,400 level. In the stated case, ether price may easily revisit the $2,500 zone.<\/p>\n<h2>Downsides Limited in ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,350 and $2,370 resistance levels, it could correct lower. An initial support on the downside is near the $2,300 zone.<\/p>\n<p>The first support is now forming near the $2,250 level and the 100 hourly simple moving average. If ether fails to stay above the 100 hourly simple moving average, there is a risk of more downsides below the $2,200 support. The next major support below $2,200 sits near the $2,150 pivot level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> &ndash; <\/strong>The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &ndash; <\/strong>The RSI for ETH\/USD is now well above the 50 level.<\/p>\n<p>Major Support Level &ndash; $2,250<\/p>\n<p>Major Resistance Level &ndash; $2,350<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-reclaims-100-sma\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum remained strong above the $2,200 level<\/p>\n","protected":false},"author":3,"featured_media":122073,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TA: Ethereum Reclaims 100 SMA, What Does This Means For the Bulls - 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