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Friday, December 9, 2022
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    HomeMarketTA: Ethereum Price Looks Ready For Another Leg Higher Over $1,500: Here’s...

    TA: Ethereum Price Looks Ready For Another Leg Higher Over $1,500: Here’s Why

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    Ethereum is exhibiting constructive indicators above the $1,350 resistance zone in opposition to the US Greenback. ETH may acquire bullish momentum if there’s a clear transfer above the $1,400 resistance.

    • Ethereum is gaining tempo and not too long ago traded above the $1,375 stage.
    • The value is now buying and selling above $1,350 and the 100 hourly easy transferring common.
    • There was a break above a significant bearish development line with resistance close to $1,355 on the hourly chart of ETH/USD (information feed through Kraken).
    • The pair may proceed to rise if there’s a clear transfer above the $1,400 resistance.

    Ethereum Value Stays Supported

    Ethereum remained well bid above the $1,300 and $1,310 ranges. ETH fashioned a base above the $1,320 stage and began a contemporary enhance above the $1,3330 stage.

    There was a gentle enhance above the $1,350 resistance stage and the 100 hourly simple moving average. Apart from, there was a break above a significant bearish development line with resistance close to $1,355 on the hourly chart of ETH/USD. The pair even climbed above the $1,375 resistance zone.

    A excessive was fashioned close to $1,385 and the worth is now consolidating beneficial properties. Ether value is buying and selling above $1,350 and the 100 hourly easy transferring common.

    It’s now buying and selling close to the 23.6% Fib retracement stage of the upward transfer from the $1,316 swing low to $1,385 excessive. On the upside, the worth is dealing with resistance close to the $1,385 zone. The primary main resistance is seen close to the $1,400 stage.

    Ethereum Price

    Supply: ETHUSD on TradingView.com

    A transparent break above $1,400 may begin a gentle enhance in direction of the $1,450 stage. The subsequent main resistance might be close to the $1,500 stage, above which the worth may acquire bullish momentum. Within the said case, the worth might maybe rise in direction of the $1,550 stage.

    Dips Supported in ETH?

    If ethereum fails to climb above the $1,400 resistance, it may begin a draw back correction. An preliminary assist on the draw back is close to the $1,365 stage.

    The subsequent main assist is close to the $1,350 stage. It’s close to the 50% Fib retracement stage of the upward transfer from the $1,316 swing low to $1,385 excessive. A draw back break under the $1,350 stage may ship the worth in direction of the $1,320 assist.

    Technical Indicators

    Hourly MACDThe MACD for ETH/USD is now gaining momentum within the bullish zone.

    Hourly RSIThe RSI for ETH/USD is now properly above the 50 stage.

    Main Assist Degree – $1,350

    Main Resistance Degree – $1,400



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