{"id":123950,"date":"2021-05-06T05:19:09","date_gmt":"2021-05-06T05:19:09","guid":{"rendered":"https:\/\/precoinnews.com\/?p=123950"},"modified":"2021-05-06T05:19:09","modified_gmt":"2021-05-06T05:19:09","slug":"ta-ethereum-sets-new-ath-why-dips-remain-attractive-in-near-term","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-ethereum-sets-new-ath-why-dips-remain-attractive-in-near-term\/","title":{"rendered":"TA: Ethereum Sets New ATH, Why Dips Remain Attractive In Near-Term"},"content":{"rendered":"<p><em>Ethereum extended its rally and it traded to a new all-time high near $3,550 against the US Dollar. ETH price is correcting gains, but it is likely to remain well bid near $3,400.<\/em><\/p>\n<ul>\n<li>Ethereum extended its rally above $3,500 and it traded to a new all-time high near $3,550.<\/li>\n<li>The price is now trading well above $3,400 and the 100 hourly simple moving average.<\/li>\n<li>There is a major bullish trend line forming with support near $3,390 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is correcting lower, but the bulls are likely to remain active near $3,400.<\/li>\n<\/ul>\n<h2>Ethereum Price Gains Traction<\/h2>\n<p>Ethereum formed a new support base above the $3,250 and started a fresh increase. ETH outpaced bitcoin and it broke the $3,400 resistance to start a fresh rally.<\/p>\n<p>It even climbed above the $3,500 level and traded to a new all-time high near $3,550. It is now trading well above $3,400 and the 100 hourly simple moving average. Recently, there was a downside correction from the $3,551 high and the price traded below $3,500.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/05\/trade-all-CTA.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 traded below the 23.6% Fib retracement level of the recent wave from the $3,289 swing low to $3,551 high. On the downside, the first major support is near the $3,420 level.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/05\/Ethereum-3.png\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>The 50% Fib retracement level of the recent wave from the $3,289 swing low to $3,551 high is also near the $3,420 level. The main support is now forming near the $3,400 level. There is also a major bullish trend line forming with support near $3,390 on the hourly chart of ETH\/USD. Any more losses might call for a drop towards the $3,250 support zone in the near term.<\/p>\n<h2>More Upsides in ETH?<\/h2>\n<p>If Ethereum remains stable above the $3,400 zone, it could start a fresh increase. An immediate resistance on the upside is near the $3,500 level.<\/p>\n<p>A successful close above the $3,500 level could lead ether price towards the $3,550 level. The next key resistance is near $3,620, above which the bulls might aim a test of the $3,750 level in the coming days.<\/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 correcting lower and it is approaching the 50 level.<\/p>\n<p>Major Support Level &ndash; $3,400<\/p>\n<p>Major Resistance Level &ndash; $3,550<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-sets-new-ath-3550\/\" 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":123949,"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 - 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