• 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 Turns Green Above $580, Why $600 is Still a Crucial Hurdle

by
December 14, 2020
in Uncategorized
0
TA: Ethereum Turns Green Above $580, Why $600 is Still a Crucial Hurdle
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Ethereum started a steady increase and climbed above $580 against the US Dollar, similar to bitcoin. ETH price is consolidating gains and it could correct lower in the short-term.

  • Ethereum gained bullish momentum above the $565 and $575 levels.
  • The price is now trading above the $580 pivot zone and the 100 hourly simple moving average.
  • There is a major bullish trend line forming with support near $579 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could correct lower, but the $580 and $575 levels are likely to provide support.

Ethereum Price Turns Green

After forming a support base near $535, Ethereum started a steady increase. ETH traded higher and broke a few important hurdles near the $550 level to move into a positive zone.

Related articles

Bitcoin Miners Are Not Selling But Accumulating Their Crypto Funds

Bitcoin Miners Are Not Selling But Accumulating Their Crypto Funds

March 1, 2021

Here’s how the Purpose Bitcoin ETF differs from Grayscale’s GBTC Trust

March 1, 2021

The price gained bullish momentum above the $565 and $575 levels. The upward move was such that ether price even surpassed the $580 resistance level and settled nicely above the 100 hourly simple moving average. It traded as high as $594 and it is currently consolidating gains.

There was a minor decline below the $585 level. The price even traded below the 23.6% Fib retracement level of the upward move from the $563 swing low to $594 high.

Ethereum Price

However, ether is finding a strong support near the $582 and $580 levels. There is also a major bullish trend line forming with support near $579 on the hourly chart of ETH/USD. The trend line coincides with the 50% Fib retracement level of the upward move from the $563 swing low to $594 high.

On the upside, the bulls are facing hurdles near the $592 and $594 levels. There is also a connecting bearish trend line with resistance at $592 on the same chart. The main resistance is still near the $600 level. A close above the $600 level is must for upside continuation.

Fresh Drop in ETH?

If ethereum fails to clear the $592 and $594 resistance levels, it could start a downside correction. An initial support zone is forming near the $580 level.

The next major support is near the $578 zone and the trend line. A close below the trend line could lead the price towards the $570 level and the 100 hourly simple moving average.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently correcting lower towards the 50 level.

Major Support Level – $580

Major Resistance Level – $594

Share76Tweet47

Related Posts

Bitcoin Miners Are Not Selling But Accumulating Their Crypto Funds

Bitcoin Miners Are Not Selling But Accumulating Their Crypto Funds

by
March 1, 2021
0

Glassnode data shows that miners are not willing to sell their Bitcoins amid a market wide exchange shortage of the...

Here’s how the Purpose Bitcoin ETF differs from Grayscale’s GBTC Trust

by
March 1, 2021
0

The newly launched Purpose Bitcoin ETF surpassed even the most bullish expectations but how does it differ from Grayscale’s GBTC...

Shark Tank’s Kevin O’Leary Reverses Stance on Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio

Shark Tank’s Kevin O’Leary Reverses Stance on Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio

by
February 28, 2021
0

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has begun investing in bitcoin. Having previously called the cryptocurrency “garbage,” he...

Google Finance adds dedicated ‘crypto’ tab featuring Bitcoin, Ether, Litecoin

by
February 28, 2021
0

Crypto continues to enter mainstream usage. Google Finance users can now get a quick rundown of the top cryptocurrency prices...

Top 5 cryptocurrencies to watch this week: BTC, BNB, DOT, XEM, MIOTA

Top 5 cryptocurrencies to watch this week: BTC, BNB, DOT, XEM, MIOTA

by
February 28, 2021
0

Bitcoin’s correction is accelerating, but a bounce off the 50-day moving average could give altcoins reason to rebound off lower...

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
Bitcoin Miners Are Not Selling But Accumulating Their Crypto Funds

Bitcoin Miners Are Not Selling But Accumulating Their Crypto Funds

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
Bitcoin Miners Are Not Selling But Accumulating Their Crypto Funds

Bitcoin Miners Are Not Selling But Accumulating Their Crypto Funds

March 1, 2021

Here’s how the Purpose Bitcoin ETF differs from Grayscale’s GBTC Trust

March 1, 2021
Shark Tank’s Kevin O’Leary Reverses Stance on Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio

Shark Tank’s Kevin O’Leary Reverses Stance on Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio

February 28, 2021

Google Finance adds dedicated ‘crypto’ tab featuring Bitcoin, Ether, Litecoin

February 28, 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
  • 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
  • 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.