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Home»EXCHANGE NEWS»Ethereum price surpassed $2,200. Is there more upside left in this segment?
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Ethereum price surpassed $2,200. Is there more upside left in this segment?

By Crypto FlexsDecember 4, 20232 Mins Read
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Ethereum price surpassed ,200.  Is there more upside left in this segment?
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The price of Ethereum surpassed the $2,100 level and exceeded $2,200. ETH is gaining pace and may surge above the $2,220 level.

  • Ethereum is showing many positive signs and recently cleared the $2,200 resistance level.
  • The price is trading above $2,150 and the 100-hour simple moving average.
  • The hourly chart of ETH/USD (data feed via Kraken) has a bullish trend line forming with support near $2,190.
  • A break above the $2,220 resistance could extend the rally.

Ethereum price rises 5%

Ethereum price maintained a good price after stabilizing above the $2,000 level. ETH gained bullish momentum and cleared the $2,120 resistance level. Bulls pushed Bitcoin up to the $2,200 level just as it surpassed $40,000.

A new multi-month high was made around $2,229 and the price is currently on an upward trend. It is trading above the 23.6% Fib retracement level, rising from the $2,147 swing low to the $2,229 high. Additionally, the hourly chart of ETH/USD features a bullish trend line forming with support near $2,190.

Ethereum is currently trading above $2,180 and the 100-hour simple moving average. On the other hand, the price is finding resistance near $2,220.

The first major resistance is near the $2,250 level. The next resistance level is $2,320. A clear break above the $2,320 level could lead the price towards the $2,450 resistance area.

Source: ETHUSD on TradingView.com

The next resistance level is near $2,500, above which the price could target an increase towards the $2,650 level. Any more gains could start a wave towards the $2,800 level.

Are dips supported on ETH?

If Ethereum fails to clear resistance at $2,220, a downward correction could begin. Initial support for the downside is near the $2,190 level and trend line.

The next major support is $2,165, or the 76.4% Fib retracement level of the rise from the $2,147 swing low to the $2,229 high. The current main support amount is close to $2,120. A sustained decline below $2,120 could begin a steady decline. Key support is currently at $2,050, and a break below this level risks a near-term decline towards the $2,000 level.

technical indicators

Hourly MACD – ETH/USD MACD is gaining momentum in the bullish zone.

RSI per hour – The RSI for ETH/USD is now above the 50 level.

Key Support Level – $2,165

Key Resistance Level – $2,220

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