Ethereum Price Momentum Explodes – $4K Could Be | Crypto News
Ethereum price discovered help close to the $3,650 zone and began a contemporary surge. ETH is rising and may soon intention for a transfer above the $3,920 zone.
- Ethereum began a contemporary increase above the $3,750 and $3,800 ranges.
- The price is trading above $3,800 and the 100-hourly Simple Moving Average.
- There is a bullish development line forming with help at $3,820 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair may start a contemporary increase if it stays supported above the $3,750 zone in the close to time period.
Ethereum Price Gains Over 5%
Ethereum price began a contemporary increase from the $3,650 help zone, beating Bitcoin. ETH price was ready to get better above the $3,720 and $3,750 resistance ranges.
The bulls even pushed the price above the $3,850 resistance zone. Finally, the price examined the $3,920 resistance zone. A high was shaped at $3,927 and the price is now consolidating positive aspects above the 23.6% Fib retracement stage of the upward transfer from the $3,544 swing low to the $3,927 high.
Ethereum price is now trading above $3,800 and the 100-hourly Simple Moving Average. There is also a bullish development line forming with help at $3,820 on the hourly chart of ETH/USD.
On the upside, the price may face resistance close to the $3,920 stage. The next key resistance is close to the $3,950 stage. The first major resistance is close to the $4,000 stage. A clear transfer above the $4,000 resistance may ship the price toward the $4,220 resistance.
An upside break above the $4,220 resistance may call for more positive aspects in the approaching periods. In the said case, Ether may rise toward the $4,350 resistance zone or even $4,500 in the close to time period.
Are Dips Limited In ETH?
If Ethereum fails to clear the $3,920 resistance, it may start a contemporary decline. Initial help on the draw back is close to the $3,820 stage. The first major help sits close to the $3,800 zone.
A clear transfer below the $3,800 help may push the price toward the $3,735 help. Any more losses may ship the price toward the $3,680 help stage in the close to time period. The next key help sits at $3,650.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,735
Major Resistance Level – $3,920
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