Ethereum Found Support Around $2,100 Price Area – Will Strike Higher?


Ethereum has become non-volatile and broke over $2,050 to $2,100 price area with a daily bullish candle. Ethereum found support around $2,100 significant event level. Will the price strike higher in the coming days? What are the charts and technical indicators are saying? Read more to find further insights into today’s ETH/USD Technical Analysis.

June 30, 2021, | AtoZ Markets – Ethereum price fall today morning during the Asian session against the U.S. Dollar. ETH is currently trading around $2,135 price area and trying to climb upside. After bouncing from $1,700 to $1,750 support level, the bulls have regained momentum and pushed the price upward quite impulsively, and broke over $2,050 to $2,100 psychological event area. As per the current price action, the dynamic level may work as strong support on the intraday chart in the coming days.

Ethereum Found Support as the Bulls Are Optimistic

Ethereum is currently residing near $2,135 price area and trying to recover upward. However, the dynamic level is still holding the price as strong resistance on the daily chart.

Ethereum Found Support

Image: ETH 4 Hour Chart

According to the 4-hour chart, Ethereum found support and currently trading around $2,135 price area. As per the current scenario, if the price can have an impulsive 4-hour bullish candle close above $2,050 to $2,100 support level, the bulls may regain momentum and push the price upside towards $2,450 to $2,500 price area in the coming days.

Furthermore, the dynamic level of 20 EMA is currently residing below the price, which may work as strong support to push the price higher in the process. Along with this, the MACD lines are currently residing above the 0.00 level and gradually moving higher. It indicates that the bulls may sustain the bullish pressure further in the days ahead.

ETH Bears May Regain Momentum

According to the daily chart, Ethereum found support, but the bears are still residing on the market. As per the current price action, if the price can have an impulsive daily bearish candle close below $2,100 to $2,050 price area, the bears may regain momentum and push the price down towards $1,750 to $1,700 price area in the coming days. On the contrary, if the price can have an impulsive daily bullish candle close above $2,200 to $2,250 price area, the bulls may sustain the bullish pressure towards $2,450 to $2,500 price are in the days ahead.

Ethereum Found Support

Image: ETH Daily Chart

In addition, the dynamic level of 20 EMA is currently residing above the price. Along with the Bollinger Bands middle band. So, the dynamic level may work as strong resistance to push the price downside. Besides, the Bollinger Bands middle band may work as a confluence of the dynamic level in the process. However, the bulls may regain momentum if the price can break over the dynamic level in the coming days.

To conclude, as long as the price residing below the dynamic level, the bias will remain bearish. An impulsive daily breakout is needed to identify the definite momentum in the days ahead. 

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