Ethereum price started a fresh increase above the $2,320 zone. ETH is now 
consolidating and might struggle to continue higher above the $2,385 
resistance. Ethereum started a decent upward move from the $2,265 zone. The 
price is trading above $2,320 and the 100-hourly Simple Moving Average. There 
is a bullish trend line forming with support at $2,320 on the hourly chart of 
ETH/USD (data feed via Kraken). The pair could start a fresh decline if it 
stays below the $2,300 zone. Ethereum Price Faces Hurdles Ethereum price 
remained bid above the $2,265 support zone, like Bitcoin. ETH price formed a 
base and started a recovery wave above the $2,300 resistance. The price 
surpassed the 50% Fib retracement level of the downward move from the $2,423 
swing high to the $2,265 low. The bulls even pushed the price toward $2,380. 
Besides, there is a bullish trend line forming with support at $2,320 on the 
hourly chart of ETH/USD. Ethereum price is now trading above $2,320 and the 
100-hourly Simple Moving Average. If the bulls remain in action above $2,320, 
the price could attempt another increase. Immediate resistance is seen near 
the $2,385 level or the 76.4% Fib retracement level of the downward move from 
the $2,423 swing high to the $2,265 low. The first key resistance is near the 
$2,400 level. The next major resistance is near the $2,420 level. A clear move 
above the $2,420 resistance might send the price toward the $2,480 resistance. 
An upside break above the $2,480 region might call for more gains in the 
coming days. In the stated case, Ether could rise toward the $2,550 resistance 
zone or even $2,565 in the near term. Another Drop In ETH? If Ethereum fails 
to clear the $2,385 resistance, it could start a fresh decline. Initial 
support on the downside is near the $2,320 level. The first major support sits 
near the $2,300 zone. A clear move below the $2,300 support might push the 
price toward the $2,265 support. Any more losses might send the price toward 
the $2,220 region. The main support could be $2,200. Technical Indicators 
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. 
Hourly RSI &#8211; The RSI for ETH/USD is now above the 50 zone. Major Support Level 
– $2,300 Major Resistance Level – $2,385

Ethereum Price Tries To Extend Gains, $2,420 Stands In The Way

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Bitcoin price started a fresh increase and cleared the $81,500 zone. BTC is 
consolidating and might aim for more gains above the $82,450 level. Bitcoin 
managed to stay above $79,200 and started a fresh increase. The price is 
trading above $80,750 and the 100 hourly simple moving average. There is a 
bullish trend line forming with support at $80,800 on the hourly chart of the 
BTC/USD pair (data feed from Kraken). The pair might extend gains if it stays 
above the $80,800 and $80,000 levels. Bitcoin Price Turns Positive Bitcoin 
price found support near $79,200 and started a fresh increase. BTC gained pace 
for a move above the $79,750 and $80,200 resistance levels. The bulls even 
pushed the price above $82,000. A high was formed at $82,436, and the price 
started a consolidation phase. There was a minor decline toward the 23.6% Fib 
retracement level of the upward move from the $79,168 swing low to the $82,436 
high. Bitcoin is now trading above $80,750 and the 100 hourly simple moving 
average. There is also a bullish trend line forming with support at $80,800 on 
the hourly chart of the BTC/USD pair. If the price remains stable above 
$80,500, it could attempt a fresh increase. Immediate resistance is near the 
$82,000 level. The first key resistance is near the $82,450 level. A close 
above the $82,450 resistance might send the price further higher. In the 
stated case, the price could rise and test the $83,200 resistance. Any more 
gains might send the price toward the $84,000 level. The next barrier for the 
bulls could be $85,000. Downside Correction In BTC? If Bitcoin fails to rise 
above the $82,000 resistance zone, it could start another decline. Immediate 
support is near the $80,800 level and the trend line. The first major support 
is near the $80,400 level or the 61.8% Fib retracement level of the upward 
move from the $79,168 swing low to the $82,436 high. The next support is now 
near the $79,950 zone. Any more losses might send the price toward the $79,250 
support in the near term. The main support now sits at $78,500, below which 
BTC might struggle to recover in the near term. Technical indicators: Hourly 
MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative 
Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support 
Levels – $80,800, followed by $80,000. Major Resistance Levels – $82,000 and 
$82,450.

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Ethereum Price Tries To Extend Gains, $2,420 Stands In The Way

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