How Ethereum Could Stage Rally To $600 If It Clears $550

The price even climbed above the 23.6% Fib retracement level of the downside correction from the $620 swing high to $480 swing low. Source: ETHUSD on TradingView.com The 50% Fib retracement level of the downside correction from the $620 swing high to $480 swing low is also near the $550 level to act as a major resistance.

The 100 simple moving average (4-hours) is also near the $512 level to act as a major support. Major Support Level – $512 Major Resistance Level – $550