TA: Ethereum Rallies above $2,700, Here’s Why ETH Could Extend Gains

TA: Ethereum Rallies above $2,700, Here’s Why ETH Could Extend Gains


Ethereum gained bullish momentum and traded to a new all-time high above $2,700 against the US Dollar. ETH price is likely to continue higher above $2,700 and $2,750.

Ethereum is trading in a bullish zone above the $2,600 support level. The price is now trading well above $2,550 and the 100 hourly simple moving average. There was a break above a major rising channel with resistance near $2,580 on the hourly chart of ETH/USD (data feed via Kraken). The pair is correcting gains, but dips are likely to remain limited below $2,550. Ethereum Price Remains Bullish

Ethereum remained in a strong uptrend and it broke the $2,650 resistance zone. ETH even cleared the $2,700 resistance and settled well above the 100 hourly simple moving average.

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There was a break above a major rising channel with resistance near $2,580 on the hourly chart of ETH/USD. It traded to a new all-time high near $2,720 before starting a downside

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