{"id":139875,"date":"2021-09-27T06:49:33","date_gmt":"2021-09-27T06:49:33","guid":{"rendered":"https:\/\/precoinnews.com\/?p=139875"},"modified":"2021-09-27T06:49:33","modified_gmt":"2021-09-27T06:49:33","slug":"ta-ethereum-regains-strength-why-3200-is-the-key-for-more-upsides","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-ethereum-regains-strength-why-3200-is-the-key-for-more-upsides\/","title":{"rendered":"TA: Ethereum Regains Strength, Why $3,200 Is The Key For More Upsides"},"content":{"rendered":"<p><em>Ethereum started a steady increase above $3,000 against the US Dollar. ETH price must clear the $3,200 to continue higher in the near term.<\/em><\/p>\n<ul>\n<li>Ethereum started a strong increase from the $2,750 support zone.<\/li>\n<li>The price is now trading above $3,000 and near the 100 hourly simple moving average.<\/li>\n<li>There was a break a major declining channel with resistance near $2,925 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair must surpass $3,175 and $3,200 to continue higher in the near term.<\/li>\n<\/ul>\n<h2>Ethereum Price Is Gaining Momentum<\/h2>\n<p>Ethereum found a strong support near $2,750 and started a fresh increase, similar to bitcoin. ETH broke the $2,880 and $2,950 resistance levels to move into a positive zone.<\/p>\n<p>There was also a break a major declining channel with resistance near $2,925 on the hourly chart of ETH\/USD. The pair settled above the $3,000 zone and near the 100 hourly simple moving average. It gained traction and climbed above the $3,100 level.<\/p>\n<p>Ether price is now facing resistance near the $3,175 zone. It traded as high as $3,165 and is currently correcting lower. An immediate support sits near the $3,065 level. It is near the 23.6% Fib retracement level of the upward move from the $2,740 swing low to $3,165 high.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/09\/Ethereum-15.png\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>On the upside, an immediate resistance on the upside is near the $3,165 level. The first major resistance is near the $3,175 level. The main breakout zone could be near the $3,200 zone. A close above the $3,200 resistance could push the price further higher. In the stated case, the price could rise towards $3,320.<\/p>\n<h2>Dips Supported in ETH?<\/h2>\n<p>If ethereum fails to continue higher above the $3,165 and $3,200 resistance levels, it could start a downside correction. An initial support on the downside is near the $3,065 level.<\/p>\n<p>The next major support seems to be forming near the $3,000 level and the 100 hourly simple moving average. Any more losses might call for a test of the 50% Fib retracement level of the upward move from the $2,740 swing low to $3,165 high at $2,950. If ether fails to stay above $2,950, it could resume its decline in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is slowly losing pace in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now well above the 50 level.<\/p>\n<p>Major Support Level \u2013 $3,065<\/p>\n<p>Major Resistance Level \u2013 $3,175<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-regains-strength-3200\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum started a steady increase above $3,000<\/p>\n","protected":false},"author":3,"featured_media":139874,"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 Regains Strength, Why $3,200 Is The Key For More Upsides - 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