In comparison to the US dollar, Ethereum extended its rally to an all-time high of around $2,450. The ETH prices are now stepping up profits and are highly likely to increase above the level of $2,450.
Ethereum extended traded above $2,400 and overtook close to the level of $2,450.
The price is well over $2,400 now, with a moveable average of 100 hours per hour.
The ETH/USD hourly chart contains a major trend line with the support of around $2,370. (data feed via Kraken).
Shortly, the two are expected to continue to grow to levels of $2,480 and $2,500.
Ethereum extended is holding income.
Ethereum stays above level $2,300 in a positive zone. ETH extended its rally to $2,400, which is short-term over Bitcoin.
It has traded to a whole new height of close to $2,450 and settled well above the simple average of 100 hours. It is just under $2.420 now to correct profits and trading. A test of the 23,6% fibre renewal level for the upward movement has been carried out between $2,293 and $2,450.
On the downside, major support is formed near the level of $2,400. Nearly $2,375 is the next major support. The ETH/USD hourly chart has also been supported by a significant bullish trend line of almost $2.370.
The trend is close to the level of 50 percent Fib of the upward transition from the lower to 2.450 dollar swing. The $2,450 level upside is one of the biggest resistance areas. A successful closing above the level of 2,450 dollars can set the pace to reach the level of 2,500 dollars.
ETH-supported dips?
If Ethereum fails to clear the resistance of $2,450, it may rectify lower. Now nearly the $2.400 level is the first big support.
The main aid is now near the trend area and the $2,3750 level. If Ether doesn’t remain above the support area of $2375, it could go down to the support zone of $2330. If the bulls fail to protect the $2,330 aid, doors to $2,320 support could be opened.
MACD hourly – the MACD for ETH/USD in the bullish zone is slowly losing momentum.
Hourly RSI: The RSI is much higher than 60 for ETH/USD now.
High level of support – $2,375.
The maximum level of resistance – $2,450
Source: NEWSBTC
