Ethereum

ORDI

Resistance

Pace

<a href="https://bitcoinworld.co.in/ethereum-price-is-gaining-pace-above-the-2200-resistance-is-2500-feasible/" title="Ethereum Price Is Gaining Pace Above The $2,200 Resistance, Is $2,500 Feasible?" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400">ETH is up over 8% and is currently trading above $2,200 and the 100-hourly Simple Moving Average.</li> 
 <li style="font-weight: 400">Ethereum might continue to rise toward the $2,500 resistance in the coming days.</li> 
</ul> 
The price of Ethereum started a strong increase above $2,000, like Bitcoin. ETH cleared many hurdles near $2,120 to enter a positive zone. The price even surged above the $2,200 level to set the tone for a larger increase. 
However, it dropped slightly below the $2,200 mark before gaining momentum again. The coin is trading at about $2,203 at press time. 
<figure id="attachment_56991" aria-describedby="caption-attachment-56991" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-56991" src="https://bitcoinworld.co.in/wp-content/uploads/Ethereum-Price-Chart-1-483x300.png" alt="" width="530" height="329" srcset="https://bitcoinworld.co.in/wp-content/uploads/Ethereum-Price-Chart-1-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/Ethereum-Price-Chart-1.png 760w" sizes="(max-width: 530px) 100vw, 530px">
 <figcaption id="caption-attachment-56991" class="wp-caption-text">
 Ethereum Price Chart | Source: <a href="https://coinstats.app/coins/ethereum/">Coinstats</a>
 </figcaption>
</figure> 
&nbsp; 
A new multi-month high was formed near $2,275 and the price is now consolidating gains. There was a minor move below the 23.6% Fib retracement level of the upward move from the $2,148 swing low to the $2,275 high.&nbsp; 
However, Ethereum is still trading above $2,200 and the 100-hourly Simple Moving Average. 
There is also a key bullish trend line forming with support near $2,225 on the hourly chart of ETH/USD. On the upside, the price is facing resistance near the $2,250 zone. 
The next key resistance is near the $2,275 level. A clear move above the $2,275 zone could send the price toward the $2,320 level. The next resistance sits at $2,350. Any more gains could start a wave toward the $2,500 level. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/ordi-price-surges-35-and-has-been-increasing-remarkably/" aria-label="“ORDI Price Surges 35% And Has Been Increasing Remarkably” (Edit)">ORDI Price Surges 35% And Has Been Increasing Remarkably</a> 
<h3 id="span-style-font-weight-400-are-dips-limited-in-ethereum-span">Are Dips Limited in Ethereum?</h3> 
If Ethereum fails to clear the $2,250 resistance, it could start a downside correction. Initial support on the downside is near the $2,220 level and the trend line. 
The next key support is $2,175 or the 76.4% Fib retracement level of the upward move from the $2,148 swing low to the $2,275 high. The main support is now near $2,150 or the 100-hourly Simple Moving Average.&nbsp; 
A downside break below $2,150 might start a steady decline. The key support is now at $2,080, below which there is a risk of a move toward the $2,020 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 losing 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 – $2,175</li> 
 <li style="font-weight: 400">Major Resistance Level – $2,250</li> 
</ul> 
The post <a href="https://bitcoinworld.co.in/ethereum-price-is-gaining-pace-above-the-2200-resistance-is-2500-feasible/">Ethereum Price Is Gaining Pace Above The $2,200 Resistance, Is $2,500 Feasible?</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Ethereum Price Is Gaining Pace Above The $2,200 Resistance, Is $2,500 Feasible?

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