Ethereum managed to clear the $1,230 resistance zone against the US Dollar. ETH tested $1,280 and seems to be forming a strong support near $1,230.
- Ethereum gained bullish momentum and cleared the $1,230 resistance zone.
- O le tau o loʻo fefaʻatauaʻi i luga atu o le $ 1,230 ma le 100 itula faigofie e faʻaalu ai i luga.
- There is a short-term bullish trend line forming with support near $1,230 on the hourly chart of ETH/USD (data feed via Kraken).
- O le paga e mafai ona faʻaauau pea ona siitia pe a tumau i luga ole $1,230 ma le $1,200 tulaga lagolago.
Ethereum Price Rallies Above Resistance
Ethereum price remained well bid above the $1,150 support zone. ETH formed a base and started a fresh increase above the $1,200 resistance, similar to bitcoin.
The price cleared the key resistance near the $1,230 and $1,250 levels. The upward move was such that the price traded as high as $1,280. It is now consolidating gains near the $1,265 level. Ether price is also trading above $1,230 and the 100 hourly simple moving average.
The bulls are currently active above the 23.6% Fib retracement level of the recent increase from the $1,150 swing low to $1,280 high. There is also a short-term bullish trend line forming with support near $1,230 on the hourly chart of ETH/USD.
puna: ETHUSD luga o TradingView.com
An immediate resistance on the upside is near the $1,280 level. The first major resistance is near the $1,300 level. The next major resistance is near the $1,330 level, above which ether price might start another bullish wave. In the stated case, the price could rise towards the $1,380 resistance zone. Any more gains might send the price towards the $1,420 resistance zone.
Fautua Lagolagoina ile ETH?
If ethereum fails to climb above the $1,280 resistance, it could start a downside correction. An initial support on the downside is near the $1,250 level.
The next major support is near the $1,230 level and the highlighted trend line. If there is a break below $1,230, the price could test the $1,200 support, where the bulls could emerge. Any more losses may perhaps start another decline towards the $1,150 support zone in the near term.
Faailoilo Technical
Faʻaleleia le MACD - O le MACD mo ETH / USD ua leiloa malosi i le bullish zona.
RSI vave - O le RSI mo ETH / USD ua i luga atu nei o le 50 tulaga.
Polokalame Fesoasoani Lautele - $ 1,230
Laʻasaga Fou Faʻatino - $ 1,280
Source: https://newsbtc.com/analysis/eth/ethereum-price-bullish-breakout-1250/