TA: Ethereum Lacking Bullish Momentum, Why ETH Holders Are Safe

Ethereum started a steady increase above $3,050 against the US Dollar. ETH price could correct lower, but the bulls might remain active near $3,000 and $2,950. Ethereum extended its increase above the $3,100 and $3,150 levels. The price is now trading near $3,100 and near the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $3,150 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct lower towards $3,000 or even $2,950 in the near term. Ethereum Price Is Losing Pace Ethereum started a steady increase and settled above the $3,000 level. ETH even broke the $3,100 level and settled above the 100 hourly simple moving average. It traded as high as $3,173 and recently corrected lower. There was a break below the $3,150 level. Besides, there was a break below a key bullish trend line with support near $3,150 on the hourly chart of ETH/USD. Ether is now trading near $3,100 and near the 100 hourly simple moving average. It is still trading well above the 23.6% Fib retracement level of the upward move from the $2,651 swing low to $3,173 high. An immediate resistance on the upside is near the $3,150 level. Source: ETHUSD on TradingView.com The first major resistance is near the $3,180 level. The main breakout zone could be near the $3,200 zone. A close above the $3,200 resistance could start another steady increase. The next major resistance might be near the $3,...