#Ethereum #CryptoTrading #ETHUSD #CryptoNews #Cryptocurrency #Bitcoin #BTC #CryptoMarket
The Ethereum price has been eyeing an upside break above the $2,440 resistance mark and could see a rally similar to Bitcoin should it break past the $2,500 level. Ethereum has been climbing up in price starting from the $2,250 support level and now trades above the $2,350 mark and the 100-hourly Simple Moving Average. Additionally, a major bearish trend line was broken with resistance near $2,300 on the hourly chart of ETH/USD. With this, the pair might strongly lean towards higher acceleration if there are clear moves above the $2,400 and $2,440 marks.
Finding support near the $2,250 level, Ethereum price started to increase again with ETH making a recovery shortly after Bitcoin’s surge above the $44,400 resistance zone. The Ethereum price was able to clear both the $2,300 and $2,320 resistance levels and saw a break in a major bearish trend line with resistance near $2,300 on the ETH/USD hourly chart. The pair then climbed above the 61.8% Fib retracement level of the downward move from the $2,445 swing high to the $2,258 low. At present, Bitcoin trades above $2,350 and the 100-hourly Simple Moving Average. However, it meets resistance near the $2,400 level.
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