TA: Ethereum Seems Unstoppable, Here’s How ETH Could Extend Rally

TA: Ethereum Seems Unstoppable, Here’s How ETH Could Extend Rally


Ethereum remained in a positive zone and it traded to a new all-time high above $2,750 against the US Dollar. ETH price is correcting gains, but dips are likely to be limited below $2,650.

Ethereum extended its rise above the $2,700 and $2,740 resistance levels. The price is now trading well above $2,650 and the 100 hourly simple moving average. There is a major rising channel forming with support near $2,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to start a fresh increase above the $2,750 resistance zone in the near term. Ethereum Price Eyes More Gains

Ethereum is following a bullish path above the $2,600 pivot level. ETH even cleared the $2,720 resistance and settled well above the 100 hourly simple moving average.

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It traded to a new all-time high at $2,764 before it started a downside correction. There was a break below the $2,720 and $2,700 levels. Ether

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