TA: Ethereum Likely Gearing For Lift-Off to $500: Why Rally Isn’t Over Yet

TA: Ethereum Likely Gearing For Lift-Off to $500: Why Rally Isn’t Over Yet


Ethereum corrected lower, but it found a strong support near the $465 level against the US Dollar. ETH price is currently rising and it is likely to climb further towards $500.

Ethereum is showing a lot of positive signs and it is now well above the $465 support level. The price is trading above the $480 resistance and the 100 hourly simple moving average. There was a break above a major contracting triangle with resistance near $478 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise steadily towards the $495 and $500 levels in the near term. Ethereum Price is Signaling More Upsides

Ethereum corrected lower below the $475 level, but the bulls were able to protect the $465 zone. ETH price seems to be forming a strong support base above the $465 level and the 100 hourly simple moving average.

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The recent swing low was near $470 before the price climbed

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