• About
  • FAQ
  • Landing Page
  • Buy JNews
Newsletter
Crypto News
Advertisement
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
Crypto News
No Result
View All Result

TA: Ethereum Approaches Key Breakout, Why $600 Holds The Key

by
December 3, 2020
in Uncategorized
0
TA: Ethereum Approaches Key Breakout, Why $600 Holds The Key
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Ethereum found support above $580 and corrected higher against the US Dollar. ETH price is facing a strong resistance near the $600 and $602 levels.

  • Ethereum started a decent recovery wave above the $585 and $590 levels.
  • The price is approaching the $600 barrier and it is above the 100 hourly simple moving average.
  • There is a key contracting triangle forming with resistance near $600 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could gain bullish momentum if there is a clear close above the $600 and $602 levels.

Ethereum Price is Showing Positive Signs

After a downside reaction, Ethereum started a recovery wave above the $580 level. ETH price also remained stable the $585 level and the 100 hourly simple moving average.

Related articles

Biden’s SEC Chair Pick Gary Gensler Reveals Policies on Bitcoin and Crypto Regulation

March 3, 2021

BTC Price Prediction

March 3, 2021

The price is currently stuck in a range below $600 (similar to bitcoin) and it seems to be preparing for the next move. The last swing low was formed near the $565 level before the price recovered above the 23.6% Fib retracement level of the key downward move from the $636 high to $565 low.

Ether is currently approaching the $600 barrier and it is above the 100 hourly simple moving average. There is also a key contracting triangle forming with resistance near $600 on the hourly chart of ETH/USD.

Ethereum Price

The triangle resistance coincides with the 50% Fib retracement level of the key downward move from the $636 high to $565 low. A successful close above the $600 and $602 resistance levels could open the doors for a sharp increase.

The next key resistance is at $610, above which the price may even clear $620. Any more gains will most likely call for a new yearly high above $636.

Downside Break in ETH?

If ethereum fails to clear the triangle resistance and $602, there is a risk of a fresh decline. An initial support is near the $590 level and the triangle lower trend line.

A downside break below the triangle support might push the price towards the $585 support and the 100 hourly simple moving average. Any more losses may possibly set the pace for a fresh decline towards the $565 swing low in the coming sessions. An intermediate support sits near the $570 level.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is currently well below the 50 level.

Major Support Level – $570

Major Resistance Level – $600

Share76Tweet47

Related Posts

Biden’s SEC Chair Pick Gary Gensler Reveals Policies on Bitcoin and Crypto Regulation

by
March 3, 2021
0

Gary Gensler, President Joe Biden’s pick to lead the U.S. Securities and Exchange Commission (SEC), has revealed his policies on...

BTC Price Prediction

by
March 3, 2021
0

Bitcoin has been showing mixed signs ever since it dropped from $58,000 to $48,000 in a single day which was...

Bridge Oracle Soon to Launch Mainnet

by
March 3, 2021
0

Bridge Oracle will soon be launching services on its mainnet that will permit users to implement real-world DApps on the...

Dan Larimer’s newest project is another attempt at decentralized social media

by
March 3, 2021
0

The former founder of Steemit and Block.one is tackling social media once more. Daniel Larimer, former chief technology officer of...

Kings of Leon are releasing an album as an NFT

by
March 3, 2021
0

Kings of Leon returns after a four-year break with an exclusive album NFT sale. American rock band Kings of Leon...

Load More
  • Trending
  • Comments
  • Latest
Grayscale CEO outlines 6 themes that will shape crypto market in 2021

Grayscale CEO outlines 6 themes that will shape crypto market in 2021

January 20, 2021
GrayScale Reopens ETHE Buying

GrayScale Reopens ETHE Buying

February 1, 2021
Grayscale Investments Buys more ETH as Ethereum Price Shoots to New All-Time High of over $1550

Grayscale Investments Buys more ETH as Ethereum Price Shoots to New All-Time High of over $1550

February 3, 2021
Grayscale’s Crypto Assets Under Management Soar Past $30 Billion — ‘Institutions Are Here’

Grayscale’s Crypto Assets Under Management Soar Past $30 Billion — ‘Institutions Are Here’

February 6, 2021

Biden’s SEC Chair Pick Gary Gensler Reveals Policies on Bitcoin and Crypto Regulation

0

China Is Reportedly Moving To Clamp Down On Bitcoin Miners

0

Inside the Chinese Bitcoin Mine That’s Grossing $1.5M a Month

0

All You Need to Know About This Whole SegWit vs. SegWit2x Thing

0

Biden’s SEC Chair Pick Gary Gensler Reveals Policies on Bitcoin and Crypto Regulation

March 3, 2021

BTC Price Prediction

March 3, 2021

Bridge Oracle Soon to Launch Mainnet

March 3, 2021

Dan Larimer’s newest project is another attempt at decentralized social media

March 3, 2021
Crypto News

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories tes

  • Aave (AAVE)
  • Abra
  • altcoin
  • Altcoin News
  • altcoins
  • Altseason
  • Basic Attention Token (BAT)
  • Binance
  • Binance (BNB) News
  • Binance Coin (BNB)
  • Binance Ecosystem
  • Binance Smart Chain
  • Binance Smart Chain (BSC)
  • bitcoin
  • Bitcoin
  • Bitcoin (BTC) Adoption
  • Bitcoin (BTC) General News
  • Bitcoin (BTC) News
  • Bitcoin (BTC) Predictions
  • Bitcoin Cash (BCH)
  • Bitcoin Cash (BCH) General News
  • Bitcoin dominance
  • Bitcoin Futures
  • Bitcoin Miners
  • bitcoin network
  • Bitcoin Options
  • Bitcoin price
  • Bitcoin SV (BSV)
  • Bitfinex
  • BitGo
  • Bitstamp
  • Bittrex
  • Blockchain
  • Blockchain News
  • bloomberg
  • Brad Garlinghouse
  • Business
  • Cameron Winklevoss
  • Cardano (ADA)
  • ChainLink
  • ChainLink (LINK)
  • Chainlink (LINK) News
  • Chainlink Community
  • Chainlink Price Prediction
  • Changpeng Zhao
  • charlie lee
  • CME Ethereum Futures
  • CME Group
  • coinbase
  • Coinmarketcap
  • Consensys
  • Craig Wright
  • Crypto Exchanges
  • cryptocurrency
  • Dash (DASH)
  • DeFi
  • DeFi Pulse
  • Deribit
  • Dogecoin (DOGE)
  • Electric Coin Company
  • Elon Musk
  • ETH 2.0
  • ETH2.0
  • Ethereum
  • Ethereum (ETH)
  • Ethereum (ETH) News
  • Ethereum 2.0
  • Ethereum Classic (ETC)
  • Ethereum Fees
  • Ethereum Futures
  • Ethereum Miners
  • Ethereum Network
  • ethereum price
  • Ethereum price analysis
  • Ethereum Staking
  • Ethereum Upgrade
  • Ethereum Upgrades
  • Flare Networks
  • Flare Networks Snapshot
  • Gemini
  • google
  • Grayscale
  • Grayscale Bitcoin Trust (GBTC)
  • Grayscale Ethereum Trust (ETHE)
  • Grayscale Investments
  • Guide
  • Guides
  • Huobi
  • Institutional Investors
  • jack dorsey
  • Jay Z
  • justin sun
  • JustSwap
  • LINK Marines
  • Litecoin
  • Litecoin (LTC)
  • Litecoin (LTC) News
  • Litecoin Development
  • litecoin foundation
  • Litecoin MimbleWimble
  • Market
  • Michael Saylor
  • MicroStrategy
  • MimbleWimble
  • Mining
  • Monero (XMR)
  • News
  • NFT
  • NFTs
  • Non-Fungible Tokens
  • OKECoin
  • Other
  • Pantera Capital
  • Polkadot (DOT)
  • Polkadot Price Analysis
  • Poloniex
  • Prices
  • Regulation
  • ripple
  • Ripple
  • Scams and Hacks
  • sec
  • Securities and Exchange Commission
  • Spark Token (FLR)
  • Spark Token Airdrop
  • Spark Tokens (FLR)
  • Square
  • SushiSwap (SUSHI)
  • Tesla
  • Tether (USDT)
  • tether bitfinex lawsuit
  • Tron (TRX)
  • TRON (TRX) News
  • Tron Foundation
  • Twitter
  • Tyler Winklevoss
  • Uniswap
  • UniSwap (UNI)
  • Wallets and Exchanges
  • WallStreetBets
  • Weiss Ratings
  • Wrapped Bitcoin (WBTC)
  • XRP
  • XRP News
  • XRP Price Prediction
  • Yearn Finance (YFI)
  • Zcash (ZEC)
  • ZCash Halving
  • Zeus Capital
  • Zilliqa (ZIL)
  • Zilliqa (ZIL) News
  • Zilliqa Staking

Tags

Altcoin Bitcoin drops Bitcoin Wallet Cointelegraph Cryptocurrency ICO Investment Lending Market Stories Mining Bitcoin

Newsletter

[mc4wp_form]

  • About
  • FAQ
  • Support Forum
  • Landing Page
  • Buy JNews
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Contact Us
  • Homepages
  • Business
  • Guide

© 2018 JNews by Jegtheme.