Ethereum

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<a href="https://bitcoinworld.co.in/ethereum-recently-cleared-the-2200-resistance-is-this-a-positive-sign/" title="Ethereum Recently Cleared The $2,200 Resistance, Is This A Positive Sign?" rel="noopener noreferrer nofollow"></a>
Ethereum price remained well-bid after it settled above the $2,000 level. ETH gained bullish momentum and cleared the $2,120 resistance.&nbsp;
The bulls even pumped it above the $2,200 level, like Bitcoin above $41,000.
A new multi-month high was formed near $2,229 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $2,147 swing low to the $2,229 high.&nbsp;
There is also a connecting bullish trend line forming with support near $2,190 on the hourly chart of ETH/USD.
Ethereum is now trading above $2,180 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,220 zone.
<figure id="attachment_56900" aria-describedby="caption-attachment-56900" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class=" wp-image-56900" src="https://bitcoinworld.co.in/wp-content/uploads/ETH-Price-Chart-4-483x300.png" alt="" width="538" height="334" srcset="https://bitcoinworld.co.in/wp-content/uploads/ETH-Price-Chart-4-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/ETH-Price-Chart-4.png 760w" sizes="(max-width: 538px) 100vw, 538px">
 <figcaption id="caption-attachment-56900" class="wp-caption-text">
 ETH Price Chart | Source: <a href="https://coinstats.app/coins/ethereum/" rel="noopener noreferrer nofollow">Coinstats</a>
 </figcaption>
</figure>
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The first key resistance is near the $2,250 level. The next resistance sits at $2,320. A clear move above the $2,320 level could send the price toward the $2,450 resistance zone.
The next resistance is near $2,500, above which the price could aim for a move toward the $2,650 level. Any more gains could start a wave toward the $2,800 level.
Read Also: <a class="row-title" href="https://bitcoinworld.co.in/ethereum-network-destroys-over-105000-eth-in-one-month/" aria-label="“Ethereum Network Destroys Over 105,000 ETH in One Month” (Edit)" rel="noopener noreferrer nofollow">Ethereum Network Destroys Over 105,000 ETH in One Month</a>
<h3 id="span-style-font-weight-400-are-dips-supported-in-eth-span">Are Dips Supported in ETH?</h3>
If Ethereum fails to clear the $2,220 resistance, it could start a downside correction. Initial support on the downside is near the $2,190 level and the trend line.
The next key support is $2,165 or the 76.4% Fib retracement level of the upward move from the $2,147 swing low to the $2,229 high. The main support is now near $2,120. A downside break below $2,120 might start a steady decline. The key support is now at $2,050, below which there is a risk of a move toward the $2,000 level in the near term.
<h3 id="span-style-font-weight-400-technical-indicators-span">Technical Indicators</h3>
<ul>
 <li style="font-weight: 400">Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.</li>
 <li style="font-weight: 400">Hourly RSI – The RSI for ETH/USD is now above the 50 level.</li>
 <li style="font-weight: 400">Major Support Level – $2,165</li>
 <li style="font-weight: 400">Major Resistance Level – $2,220</li>
</ul>
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
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Ethereum Recently Cleared The $2,200 Resistance, Is This A Positive Sign?

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