Ethereum, the cryptocurrency that’s like Bitcoin’s quirky younger sibling, is flexing its muscles above $2,650. ETH is climbing faster than my anxiety levels during a family reunion, and it might just keep going. 🚀
- Ethereum is still acting all positive above $2,620, like it’s trying to impress its crypto parents.
- It’s trading above $2,680 and the 100-hourly Simple Moving Average, which sounds fancy but probably just means it’s doing better than my 401(k).
- There was a break above a key contracting triangle with resistance at $2,700 on the hourly chart of ETH/USD (data feed via Kraken). Triangles are usually for geometry, but here we are. 📐
- If it settles above $2,725 and $2,755, it could start a decent upward move, or at least make me feel better about my life choices.
Ethereum price has been hanging out above $2,500 like it’s waiting for the bus, but recently it decided to start moving upward, just like Bitcoin. ETH broke the $2,620 resistance, which is a fancy way of saying it’s in a short-term bullish zone. 🐂
There was a break above a key contracting triangle with resistance at $2,700 on the hourly chart of ETH/USD. The price managed to surpass $2,720 and even tested the 50% Fib retracement level of the downward move from the $2,845 swing high to the $2,605 low. That’s a mouthful, but basically, it’s doing better than my New Year’s resolutions.
Ethereum is now trading above $2,680 and the 100-hourly Simple Moving Average. On the upside, it’s facing hurdles near $2,725, which is like trying to get past the bouncer at a club. 🕴️
The first major resistance is near $2,755 or the 61.8% Fib retracement level of the downward move from the $2,845 swing high to the $2,605 low. The main resistance is forming near $2,800 or $2,820, which is where I’d start to consider selling my kidney to buy more ETH.
A clear move above the $2,820 resistance might send the price toward $2,880. An upside break above $2,880 could call for more gains, and in that case, Ether could rise toward $2,920 or even $3,000 in the near term. That’s like finding a $20 bill in your winter coat pocket. 🤑
If Ethereum fails to clear the $2,755 resistance, it could start another decline. Initial support on the downside is near $2,700. The first major support sits near $2,660, which is where I’d start to panic. 😬
A clear move below $2,660 might push the price toward $2,620. Any more losses could send it toward $2,550, and the next key support is at $2,500. That’s when I’d start questioning my life choices again.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone, which is a fancy way of saying it’s doing better than my diet.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone, which is like saying it’s finally passing its midlife crisis.
Major Support Level – $2,660
Major Resistance Level – $2,755
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2025-02-20 06:47