Ethereum Price Momentum Reignites, RSI Signals Rally To $2,200

Dec 1, 2023 04:00 am Cryptocurrency 151

Ethereum price remained well-bid above the $2,020 level. ETH is now rising, and the bulls seem to be aiming for a move toward the $2,200 level.

Ethereum is making a fresh attempt to clear the $2,100 and $2,120 resistance levels.

The price is trading above $2,050 and the 100-hourly Simple Moving Average.

There was a break above a major contracting triangle with resistance near $2,055 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could gain bullish momentum if it clears the $2,120 resistance zone.

Ethereum Price Regains Strength

Ethereum price started a downside correction below the $2,050 level. ETH tested the $2,020 support, where the bulls took a stand. A low was formed near $2,019 before the price climbed higher, like Bitcoin.

The price cleared the $2,050 resistance zone. There was a break above a major contracting triangle with resistance near $2,055 on the hourly chart of ETH/USD. The pair climbed above ..

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