TA: Ethereum Rally Extends Above $3,400, Why Dips Remain Attractive

TA: Ethereum Rally Extends Above $3,400, Why Dips Remain Attractive


Ethereum extended its rally and it traded to a new all-time high above $3,450 against the US Dollar. ETH price is correcting gains, but it is likely to remain well bid above $3,100.

Ethereum remained in a strong uptrend and it broke the $3,400 level. The price is now trading well above $3,200 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $3,220 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct lower, but the bulls are likely to remain active near $3,100 and $3,000. Ethereum Price Rallies Another 10%

Ethereum is following a strong bullish path above the $3,000 resistance. ETH outpaced bitcoin and it surged above the $3,200 level. There was a 10% rise and the price broke the $3,400 level.

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It traded to a new all-time high near $3,456 and it settled nicely above the 100 hourly simple moving average.

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