Ethereum Price Momentum Above $1,320: Here’s Why Bulls Are Comfortable
Ethereum started a consolidation phase above the $1300 level against me US dollar, ETH could start a fresh increase if there is a clear move above $1350.
Ethereum recovered above $1300 and started a consolidation phase. the price is currently trading above $1310 and the 100 hourly simple moving average.
There is a key declining channel forming with resistance near $1340 on the hourly chart of ETH/USD.
The pair could start a fresh increase if there is a clear move above the $135o resistance zone.
There is a clear move above the 50% FIB retracement level of the key decline from the $1400 swing high to the $1252 low Ether price even spiked above the $1340 but upsides were limited it's currently trading above the $1310 level.
The live Ethereum price today is $1,330.63 with a 24-hour trading volume of $13,930,161,276. Ethereum is down 0.71% in the last 24 hours. The current CoinMarketCap ranking is #2, with a live market cap of $163,117,021,891 USD. It has a circulating supply of 122,586,429 ETH coins
ETH price statistics the price change of 24 of ETH is -$7.29 of 0.55%. 24h low is $1,293.19 and 24h high is $1,346.06 with 17.29% Market dominance.
There was a clear move above the 50% FIB retracement level of the key decline from the $1400 awing high to the $1252 low.
The next support is near the $1290 level and the channel's lower trend line. a downside break below the $1290 level may send the price towards the $1265 support in the near term.
Related: Bitcoin (BTC) trading volume is on the rise, as the cryptocurrency market shows some signs of improvement.