Ethereum Outperforms Bitcoin: Jumps Amid Market Divergence
19 Juin 2024 - 5:48AM
NEWSBTC
Ethereum price started a fresh increase from the $3,350 support
zone. ETH is outperforming Bitcoin and might rise further toward
the $3,650 resistance. Ethereum is gaining pace from the key $3,365
support zone. The price is trading above $3,450 and the 100-hourly
Simple Moving Average. There was a break above a key bearish trend
line with resistance near $3,460 on the hourly chart of ETH/USD
(data feed via Kraken). The pair formed a double-bottom pattern and
gained pace above the $3,500 resistance. Ethereum Price Holds Key
Support Ethereum price remained well-bid above the $3,350 support
zone. ETH formed a base and started a fresh increase after it
formed a double-bottom pattern near $3,350, as discussed yesterday.
It outperformed Bitcoin and broke the $3,450 resistance. There was
a clear move above the 50% Fib retracement level of the downward
move from the $3,650 swing high to the $3,350 low. Besides, there
was a break above a key bearish trend line with resistance near
$3,460 on the hourly chart of ETH/USD. Ethereum is now trading
above $3,450 and the 100-hourly Simple Moving Average. It is also
showing positive signs for more gains above the $3,535 level. On
the upside, the price might face resistance near the $3,580 level
or the 76.4% Fib retracement level of the downward move from the
$3,650 swing high to the $3,350 low. The first major resistance is
near the $3,650 level. An upside break above the $3,650 resistance
might send the price higher. The next key resistance sits at
$3,720, above which the price might gain traction and rise toward
the $3,750 level. A clear move above the $3,750 level might send
Ether toward the $3,880 resistance. Any more gains could send Ether
toward the $4,000 resistance zone in the coming days. Another
Decline In ETH? If Ethereum fails to clear the $3,580 resistance,
it could start another decline. Initial support on the downside is
near $3,500. The first major support is $3,450. A clear move below
the $3,450 support might push the price toward $3,350. Any more
losses might send the price toward the $3,220 level in the near
term. Technical Indicators Hourly MACD – The MACD for ETH/USD is
gaining momentum in the bullish zone. Hourly RSI – The RSI for
ETH/USD is now above the 50 zone. Major Support Level – $3,450
Major Resistance Level – $3,580
Ethereum (COIN:ETHUSD)
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De Mai 2024 à Juin 2024
Ethereum (COIN:ETHUSD)
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De Juin 2023 à Juin 2024