Ethereum Price Prediction- After 10% Surge, Is ETH Rally Just Getting Started?

Dec 6, 2023 06:00 am Cryptocurrency 133

Ethereum price extended its rally above the $2,250 resistance. ETH is up over 10% and might continue to rise toward the $2,500 resistance.

Ethereum is showing positive signs and recently surpassed the $2,300 resistance.

The price is trading above $2,250 and the 100-hourly Simple Moving Average.

There is a major bullish trend line forming with support near $2,250 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could extend its rally if it clears the $2,320 resistance zone.

Ethereum Price Extends Rally

Ethereum price remained in a positive zone above $2,120, like Bitcoin. ETH extended its rally above the $2,200 and $2,250 resistance levels. The bulls remained action and the price spiked above $2,300.

A new multi-month high was formed near $2,316 and the price is now correcting gains. There was a move below the $2,300 level. The price is now testing the 23.6% Fib retracement level of the upward move from the $2,188 swing low ..

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