IITMIND: EdTech, Finance and Crypto currencies



Ethereum price is showing great support resistance above the $2,500 level. There was a move above the $2,650 resistance and the 100-hourly Simple Moving Average. The price even broke the $2,700 level but retraced back to the $2,500 -$2,600 level.

There is a continuous bullish trend line forming with support at $2,600 on the hourly chart of ETH/USD. It is close to the 40% retracement level of the upside move from the $2,490 swing low to the $2,700 high.

The next major resistance is now near $2,650. A clear move above the $2,650 level might start a rapid increase in ETH price. If Ethereum fails to clear the $2,650 resistance, we might start another decline in its price.

As of now, at the time of writing this article, ETH is trading at around $2,550 with a market capitalization of $306 Billion and is up by 5% over the last week.

>> Disclaimer Risk warning:- Cryptocurrency Investment is subject to high market risk. The information on our website is for educational purposes only. Please do your own research before investing anywhere, we will not be responsible for your investment losses.

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