Categories
Coin News

Ethereum extended its rally to a new all-time high near $2,450

In comparison to the US dollar, Ethereum extended its rally to an all-time high of around $2,450. The ETH prices are now stepping up profits and are highly likely to increase above the level of $2,450.

Ethereum extended traded above $2,400 and overtook close to the level of $2,450.

The price is well over $2,400 now, with a moveable average of 100 hours per hour.

The ETH/USD hourly chart contains a major trend line with the support of around $2,370. (data feed via Kraken).

Shortly, the two are expected to continue to grow to levels of $2,480 and $2,500.

Ethereum extended is holding income.

Ethereum stays above level $2,300 in a positive zone. ETH extended its rally to $2,400, which is short-term over Bitcoin.

It has traded to a whole new height of close to $2,450 and settled well above the simple average of 100 hours. It is just under $2.420 now to correct profits and trading. A test of the 23,6% fibre renewal level for the upward movement has been carried out between $2,293 and $2,450.

On the downside, major support is formed near the level of $2,400. Nearly $2,375 is the next major support. The ETH/USD hourly chart has also been supported by a significant bullish trend line of almost $2.370.

The trend is close to the level of 50 percent Fib of the upward transition from the lower to 2.450 dollar swing. The $2,450 level upside is one of the biggest resistance areas. A successful closing above the level of 2,450 dollars can set the pace to reach the level of 2,500 dollars.

ETH-supported dips?

If Ethereum fails to clear the resistance of $2,450, it may rectify lower. Now nearly the $2.400 level is the first big support.

The main aid is now near the trend area and the $2,3750 level. If Ether doesn’t remain above the support area of $2375, it could go down to the support zone of $2330. If the bulls fail to protect the $2,330 aid, doors to $2,320 support could be opened.

MACD hourly – the MACD for ETH/USD in the bullish zone is slowly losing momentum.

Hourly RSI: The RSI is much higher than 60 for ETH/USD now.

High level of support – $2,375.

The maximum level of resistance – $2,450

Source: NEWSBTC

5 Things to Consider Before Investing in Cryptocurrency

5 Things to Consider Before Investing in Cryptocurrency There is no question that cryptocurrencies have established a new investing sector. With the value of digital currencies such as Bitcoin over ...
Read More

Tax on Cryptocurrency In India – Complete Guide 2022

Wondering how taxation on crypto works in India? How much do you have to pay tax on cryptocurrency in India? How 1% TDS is levied on crypto? Don’t worry we ...
Read More

New Cryptocurrency Bill Advances to Senate in Brazil

A new cryptocurrency bill was approved by the Chamber of Deputies of the Brazilian Congress last week, and is now awaiting review by the Senate for approval. The project, if ...
Read More

USDC Sees Native Launch on Avalanche

USDC, the second leading stablecoin by market cap, has been launched on the Avalanche blockchain as a native token. Previously, users wanting to get USDC in Avalanche had to bridge ...
Read More

Crypto Lender Nexo Launches NFT Lending Desk, Loans up to 20% for Popular NFTs

On December 16, the blockchain-based lending platform Nexo announced the firm has launched a non-fungible token (NFT) lending desk. While the company offered crypto-backed loans using tokens like bitcoin and ...
Read More
Share with Others