Ethereum

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.
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 is now trading below the 23.6% Fib retracement level of the recent wave from the $2,560 swing low to $2,764 high.
It is still trading well above $2,650 and the 100 hourly simple moving average. There is also a major rising channel forming with support near $2,640 on the hourly chart of ETH/USD.

Source: ETHUSD on TradingView.com
The channel support is close to the 50% Fib retracement level of the recent wave from the $2,560 swing low to $2,764 high. On the upside, the price is facing resistance near the $2,750 and $2,760 levels. A successful close above the $2,760 zone could set the pace for more gains.
The next major resistance is near the $2,800 level, above which the price could accelerate higher towards the $2,880 level. The main target for the bulls may possibly be near the $3,000 level.
Dips Limited in ETH?
If Ethereum fails to extend gains above $2,750, there could be a downside correction. An immediate support is near the channel trend line or $2,650.
A downside break below the channel support could lead the price towards the $2,600 support. Any more losses might call for an extended decline towards the $2,550 support zone or the 100 hourly simple moving average in the near term.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now approaching the 50 level.
Major Support Level – $2,650
Major Resistance Level – $2,750

Warren Mraz

By Warren Mraz

I’m a highly experienced and well-respected author in the field of Cryptocurrency. I have been writing on the subject for over 5 years now and have become an expert in the field. My work has been featured in many prestigious publications, including The Wall Street Journal, Forbes, and Business Insider. I’m a regular contributor to CoinDesk, one of the leading sources of Cryptocurrency news and information. In addition to my writing, I’m also a highly sought-after speaker on the topic of Cryptocurrency investing and trading. I have been invited to speak at numerous events around the world, including the World Economic Forum in Davos, Switzerland.

bitcoin
Bitcoin (BTC) $ 16,224.02
ethereum
Ethereum (ETH) $ 1,173.36
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 295.52
usd-coin
USD Coin (USDC) $ 1.00
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.384697
dogecoin
Dogecoin (DOGE) $ 0.095656
cardano
Cardano (ADA) $ 0.306906
matic-network
Polygon (MATIC) $ 0.823268
polkadot
Polkadot (DOT) $ 5.17
staked-ether
Lido Staked Ether (STETH) $ 1,156.03
shiba-inu
Shiba Inu (SHIB) $ 0.000009
dai
Dai (DAI) $ 0.997936
litecoin
Litecoin (LTC) $ 71.93
okb
OKB (OKB) $ 20.27
tron
TRON (TRX) $ 0.052930
solana
Solana (SOL) $ 13.36
uniswap
Uniswap (UNI) $ 5.28
avalanche-2
Avalanche (AVAX) $ 12.34
leo-token
LEO Token (LEO) $ 3.91
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 16,117.79
chainlink
Chainlink (LINK) $ 6.72
cosmos
Cosmos Hub (ATOM) $ 9.74
ethereum-classic
Ethereum Classic (ETC) $ 18.96
the-open-network
The Open Network (TON) $ 1.71
monero
Monero (XMR) $ 135.61
stellar
Stellar (XLM) $ 0.086763
bitcoin-cash
Bitcoin Cash (BCH) $ 108.13
algorand
Algorand (ALGO) $ 0.233620
quant-network
Quant (QNT) $ 113.91
crypto-com-chain
Cronos (CRO) $ 0.062498
apecoin
ApeCoin (APE) $ 3.85
filecoin
Filecoin (FIL) $ 4.21
vechain
VeChain (VET) $ 0.018425
near
NEAR Protocol (NEAR) $ 1.53
hedera-hashgraph
Hedera (HBAR) $ 0.048611
frax
Frax (FRAX) $ 0.999141
flow
Flow (FLOW) $ 1.11
internet-computer
Internet Computer (ICP) $ 3.87
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 42.36
eos
EOS (EOS) $ 0.900780
terra-luna
Terra Luna Classic (LUNC) $ 0.000159
theta-token
Theta Network (THETA) $ 0.917924
paxos-standard
Pax Dollar (USDP) $ 1.00
tezos
Tezos (XTZ) $ 0.975771
chain-2
Chain (XCN) $ 0.040522
chiliz
Chiliz (CHZ) $ 0.162607
the-sandbox
The Sandbox (SAND) $ 0.553141
aave
Aave (AAVE) $ 59.94