Ethereum -Price found support near the $ 3,680 zone. ETH is rising now and can soon strive for a movement to the $ 4,000 zone.
- Ethereum started a new increase above the levels of $ 3,740 and $ 3,800.
- The price is traded above $ 3,820 and the 100-hour simple advancing average.
- There was a break over a Bearish trend line with resistance at $ 3,810 on the hourly table ETH/USD (data special via Kraken).
- The couple could start a new increase if it is supported above $ 3,800 zone in the short term.
Ethereum Price eyes fresh profit
Ethereum -Price started a close correction of the level of $ 3,940, such as Bitcoin. ETH price fell under the support levels of $ 3,900 and $ 3,800.
The bears even pushed the price below the 50% FIB racement level of the upward movement of the $ 3,515 Swing low to the $ 3,940 high. Finally, the price was below $ 3,700 and the 100-hour simple advancing average. It tested the $ 3,680 support zone.
The bulls protected the 61.8% FIB racement level of the upward movement of the $ 3,515 Swing low to the $ 3,940 high. The price rises again above the level of $ 3,750. There was a break over a Bearish trend line with resistance at $ 3,810 on the hour table ETH/USD.
Ethereum price is now traded above $ 3,820 and the 100-hour simple advancing average. At the top the price can experience the resistance near the level of $ 3,880. The next key resistance is near the level of $ 3,920. The first major resistance is near the level of $ 3,940. A clear movement above the $ 3,940 resistance can send the price to $ 3,980 resistance.
An upward break above the $ 3,980 resistance can request more profit in the upcoming sessions. In the indicated case, Ether could rise to the $ 4,050 resistance zone or even $ 4,120 in the short term.
Another drop in ETH?
If Ethereum did not know the resistance of $ 3,880, this can start a downward correction. The first support on the disadvantage is near the level of $ 3,800. The first major support is near the $ 3,720 zone.
A clear movement under the support of $ 3,720 can push the price to $ 3,680 support. More losses can send the price to the support level of $ 3,565 in the short term. The following key support is $ 3,500.
Technical indicators
Hour MacD – The MACD for ETH/USD is gaining force in the bullish zone.
Hour RSI – The RSI for ETH/USD is now above 50 zone.
Major support level – $ 3,800
Large resistance level – $ 3,880