{"id":123477,"date":"2021-05-03T05:38:26","date_gmt":"2021-05-03T05:38:26","guid":{"rendered":"https:\/\/precoinnews.com\/?p=123477"},"modified":"2021-05-03T05:38:26","modified_gmt":"2021-05-03T05:38:26","slug":"ta-ethereum-surges-above-3k-heres-why-rally-isnt-over-yet","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-ethereum-surges-above-3k-heres-why-rally-isnt-over-yet\/","title":{"rendered":"TA: Ethereum Surges Above $3K, Here\u2019s Why Rally Isn\u2019t Over Yet"},"content":{"rendered":"<p><em>Ethereum extended its rally and it traded to a new all-time high above $3,000 against the US Dollar. ETH price is showing signs of more upsides towards $3,100 and $3,150.<\/em><\/p>\n<ul>\n<li>Ethereum remained well supported above $2,800 and it broke the $3,000 level.<\/li>\n<li>The price is now trading well above $3,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bullish trend line forming with support near $2,990 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could correct lower, but the bulls are likely to appear near $3,000 and $2,950.<\/li>\n<\/ul>\n<h2>Ethereum Price Remains In Uptrend<\/h2>\n<p>Ethereum remained well supported and it gained pace above the $2,850 resistance. ETH outpaced bitcoin and it even cleared the $3,000 resistance zone.<\/p>\n<p>It traded to a new all-time high near $3,060 and it settled nicely above the 100 hourly simple moving average. The price is showing positive signs and it could continue to rise above $3,060. On the downside, an initial support is near the $3,030 level.<\/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>The 23.6% Fib retracement level of the recent wave from the $2,928 swing low to $3,061 high is also near $3,030. The next major support is near the $2,995 level. There is also a key bullish trend line forming with support near $2,990 on the hourly chart of ETH\/USD.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/05\/Ethereum.png\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>The trend line is close to the 50% Fib retracement level of the recent wave from the $2,928 swing low to $3,061 high. Any more losses might call for a test of the $2,925 and $2,920 support levels in the near term. The next major support is near the $2,850 level and the 100 hourly simple moving average.<\/p>\n<h2>More Upsides in ETH?<\/h2>\n<p>If Ethereum remains stable above the trend line support and $3,000, it could continue to rise. An initial resistance on the upside is near the $3,060 level.<\/p>\n<p>The first major resistance is near the $3,085 level. A clear upside break above the $3,085 level and could open the doors for a move above the $3,100 level. The next major hurdle for the bulls could be near the $3,150 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 well above the 50 level.<\/p>\n<p>Major Support Level &ndash; $3,000<\/p>\n<p>Major Resistance Level &ndash; $3,150<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-surges-above-3k\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum extended its rally and it traded<\/p>\n","protected":false},"author":3,"featured_media":123476,"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 Surges Above $3K, Here\u2019s Why Rally Isn\u2019t Over Yet - 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