{"id":123629,"date":"2021-05-04T04:59:16","date_gmt":"2021-05-04T04:59:16","guid":{"rendered":"https:\/\/precoinnews.com\/?p=123629"},"modified":"2021-05-04T04:59:16","modified_gmt":"2021-05-04T04:59:16","slug":"ta-ethereum-rally-extends-above-3400-why-dips-remain-attractive","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-ethereum-rally-extends-above-3400-why-dips-remain-attractive\/","title":{"rendered":"TA: Ethereum Rally Extends Above $3,400, Why Dips Remain Attractive"},"content":{"rendered":"<p><em>Ethereum extended its rally and it traded to a new all-time high above $3,450 against the US Dollar. ETH price is correcting gains, but it is likely to remain well bid above $3,100.<\/em><\/p>\n<ul>\n<li>Ethereum remained in a strong uptrend and it broke the $3,400 level.<\/li>\n<li>The price is now trading well above $3,200 and the 100 hourly simple moving average.<\/li>\n<li>There is a major bullish trend line forming with support near $3,220 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 remain active near $3,100 and $3,000.<\/li>\n<\/ul>\n<h2>Ethereum Price Rallies Another 10%<\/h2>\n<p>Ethereum is following a strong bullish path above the $3,000 resistance. ETH outpaced bitcoin and it surged above the $3,200 level. There was a 10% rise and the price broke the $3,400 level.<\/p>\n<p>It traded to a new all-time high near $3,456 and it settled nicely above the 100 hourly simple moving average. The price is now correcting gains and it traded below the $3,320 level. There was a break below the 50% Fib retracement level of the recent rally from the $3,088 swing low to $3,456 high.<\/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>An immediate support on the downside is near the $3,250 level. There is also a major bullish trend line forming with support near $3,220 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-1.png\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>The trend line is close to the 61.8% Fib retracement level of the recent rally from the $3,088 swing low to $3,456 high. The next major support is near the $3,080 level, below which the price might extend losses. In the stated case, the price could revisit the $2,950 support 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 $3,100, it could continue to rise. An initial resistance on the upside is near the $3,320 level.<\/p>\n<p>The first major resistance is near the $3,400 level. A clear upside break above the $3,400 level and could open the doors for a more upsides above the $3,456 high. The next major stop could be $3,550 or even $3,620 in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> &ndash; <\/strong>The MACD for ETH\/USD is slowly losing momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &ndash; <\/strong>The RSI for ETH\/USD is still above the 50 level.<\/p>\n<p>Major Support Level &ndash; $3,100<\/p>\n<p>Major Resistance Level &ndash; $3,400<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-rally-extends-above-3400\/\" 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":123628,"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 Rally Extends Above $3,400, Why Dips Remain Attractive - 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