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NewsBTC 2021-11-08 05:28:24

TA: Ethereum Sets New ATH, What Could Pump ETH To $5K

Ethereum gained pace and traded to a new all-time high above $4,700 against the US Dollar. ETH is showing positive signs and it could extend gains above $4,750. Ethereum gained pace above the $4,600 and $4,650 resistance levels. The price is now trading above $4,600 and the 100 hourly simple moving average. There is a steep bullish trend line forming with support near $4,680 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh rally if it clears the $4,750 resistance in the near term. Ethereum Price Eyes More Upsides Ethereum started a fresh increase above the $4,550 and $4,600 resistance levels. ETH gained pace above the $4,650 resistance zone and the 100 hourly simple moving average. The price even climbed above $4,700 and traded to a new all-time high. It traded as high as $4,737 and is currently consolidating gains. It is now trading well above the 23.6% Fib retracement level of the upward move from the $4,346 swing low to $4,737 high. It is also trading well above $4,600 and the 100 hourly SMA. Besides, there is a steep bullish trend line forming with support near $4,680 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com An immediate resistance on the upside is near the $4,730 level. The next major resistance is near the $4,750 level. A break above the $4,750 level may possibly spark a fresh rally. The next key resistance is near the $4,800 level. Any more gains could lead the...

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TA: Ethereum Sets New ATH, What Could Pump ETH To $5K

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