{"id":131383,"date":"2021-07-07T05:46:33","date_gmt":"2021-07-07T05:46:33","guid":{"rendered":"https:\/\/precoinnews.com\/?p=131383"},"modified":"2021-07-07T05:46:33","modified_gmt":"2021-07-07T05:46:33","slug":"ta-ethereum-gearing-for-another-lift-off-why-rally-isnt-over-yet","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-ethereum-gearing-for-another-lift-off-why-rally-isnt-over-yet\/","title":{"rendered":"TA: Ethereum Gearing For Another Lift-Off, Why Rally Isn&#039;t Over Yet"},"content":{"rendered":"<p><em>Ethereum started a fresh increase above the $2,300 resistance against the US Dollar. ETH price is likely to accelerate higher above the $2,400 and $2,500 resistance levels.<\/em><\/p>\n<ul>\n<li>Ethereum is showing a lot of positive signs above the $2,250 pivot zone.<\/li>\n<li>The price is now trading above $2,300 and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a major contracting triangle with resistance near $2,330 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair seems to be aiming a larger increase above the $2,400 resistance zone in the near term.<\/li>\n<\/ul>\n<h2>Ethereum Price Eyes Fresh Increase<\/h2>\n<p>After a minor downside correction, ethereum found support near the $2,150 zone. ETH recovered losses and it later formed a decent support base above the $2,200 zone.<\/p>\n<p>It started a fresh increase above the $2,250 resistance level. There was a clear break above the 76.4% Fib retracement level of the key decline from the $2,388 high to $2,158 low. There was also a break above a major contracting triangle with resistance near $2,330 on the hourly chart of ETH\/USD.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/03\/AD2_728x90.gif\" \/><\/p>\n<p>Ether is now trading above $2,300 and the 100 hourly simple moving average. It is approaching the last swing high near the $2,388 zone. The first major resistance is near the $2,400 level.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/07\/Ethereum-3.png\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>A close above the $2,400 level could start a major increase. The next key resistance could be $2,442. It is near the 1.236 Fib extension level of the key decline from the $2,388 high to $2,158 low. Any more gains could lead the price towards the $2,500 level. In the stated case, bitcoin price might also rally above $35,000.<\/p>\n<h2>Dips Supported in ETH?<\/h2>\n<p>If Ethereum fails to surpass the $2,400 resistance zone, it could start a downside correction. An immediate support on the downside is near the $2,330 level and the broken triangle zone.<\/p>\n<p>The first major support is near the $2,300 level. Any more losses might call for a move towards the $2,250 support zone and the 100 hourly SMA. The next major support sits near the $2,200 level, below which there is a risk of a larger decline.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> &ndash; <\/strong>The MACD for ETH\/USD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &ndash; <\/strong>The RSI for ETH\/USD is currently well above the 50 level.<\/p>\n<p>Major Support Level &ndash; $2,300<\/p>\n<p>Major Resistance Level &ndash; $2,400<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/ethereum-another-lift-off-2500\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum started a fresh increase above the<\/p>\n","protected":false},"author":3,"featured_media":131382,"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 Gearing For Another Lift-Off, Why Rally Isn&#039;t Over Yet - 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