Ethereum Price Prints Bullish Signal, What Are Possible Bulls Targets

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5 a.m. Monday, December 5th, 2022. Ethereum price principle bullish signal. What are possible bulls targets? Ethereum gained pace and retested the 1300 resistance zone against the U.S. dollar. ETH is eyeing more gains towards the 1330 and 1350 levels. Ethereum remained well bid above the 1240 level and resumed its increase. The price is now trading above 1250 and the 100 hourly simple moving average. There was a break above a major bearish trendline with resistance near 1280 on the hourly chart of a thus data feed via kraken. The pair could gain bullish momentum once it settles above the 1300 resistance zone. Ethereum price gains momentum Ethereum price corrected lower once from the 1300 resistance zone. ETH declined below the 1280 support level. However, the bulls were active above the 1240 level and the 100 hourly simple moving average, similar to Bitcoin. The price traded as low as 1238 and recently started a fresh increase. Ether price traded above the 1275 and 1280 resistance levels. It cleared the 76.4 fib retracement level of the downward move from the 1296 swing high to 1238 low. Besides, there was a break above a major bearish trendline with resistance near 1280 on the hourly chart of a dust. The pair is now trading above 1250 and the 100 hourly simple moving average. And immediate resistance on the upside is near the 1310 level. The first major resistance is near the 1332 level. It is near the 1.618 fib extension level of the downward move from the 1296 swing high to 1238 low. A close above the 1332 resistance might send the price further higher. Source of dust on trading view dot com the next major resistance is near the 1350 level. Above which ether price might test 1400. Any more gains might send the price towards the 1500 resistance zone. Less downsides in ETH if Ethereum fails to start another increase above the 1300 resistance, it could start a downside correction. An initial support on the downside is near the 1280 level and the broken trendline. The next major support is near the 1265 level or the 100 hourly simple moving average. If there is a break below 1265, the price could test the 1240 support. Any more losses could lead the price towards the 1200 support. Technical indicators hourly MACD the MAC D for a dust is now gaining momentum in the bullish zone. Hourly RSI, the RSI for a thrust is now above the 50 level. Major support level 1265 major resistance level 1310.

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