ADVERTENTIE
ETH starts consolidating above $2050 after the minor correction below $2100 against the US dollar. However, the bulls are still in control as the price prepares for a new rally as long as it is above $2K so let’s read more in our laatste ethereum nieuws <p></p>
Ethereum is showing signs of fresh increase above $2150 and $2120 with the price now trading nicely above the $2080 support and the 100 hourly simple moving average. There’s another contracting triangle forming with the resistance near $2120 on the charts of the pair with it likely to continue higher above $2120 in the near term. After a new all-time high near $2150, ETH started a downside correction and traded below $2100 support levels.
However, the bulls are now active near the $2050 support zone and the 100 hourly simple moving average with a new low forming near $2050 before the price climbed higher. The recent swing high was close to $2132 as the low was formed near $2083. ETH is now rising and trading above $2100 with a new break above the 50% fib retracement level from the decline at $2132 high to $2083 low. It seems like there’s another contracting triangle forming with the resistance near $2120 on the charts of the pair with the triangle resistance closing the 61.8% fib retracement level from eh drop at the $2083 low.
A break above the triangle resistance could open the gates for new rises above $2150 which could make the coin rally towards $2050 to the next key barrier for the bulls setting at $2320. If ETH fails to clear the $2120 resistance it could correct lower with another support forming near the $2080 level. The main support is still close to the $2050 level and the 100 hourly simple moving average so more losses could call for a test of $2000 support below which the price could hit $1920. ETH starts consolidating hoger as the ETH/USD pair is slowly gaining momentum in the bullish zone. The hourly RSI is above the 50 level.
ADVERTENTIE
As recently reported, Ethereum is showing plenty of positive signs above the $2000 support zone and now the price is well above it with the 100 hourly simple moving average. There’s a key bearish trend line forming with the resistance near $2075 on the charts of the pair. The pair will start afresh increase as long as there’s no close below the $2000 support zone.
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Source: https://www.dcforecasts.com/ethereum-news/eth-starts-consolidating-above-2050-but-the-bulls-remain-in-control/
