Ethereum -Price started a recovery wave above $ 4,050. ETH is now consolidating and can strive for more profit if it knew the resistance of $ 4,170.
- Ethereum remained stable above $ 3,820 and started a recovery wave.
- The price acts above $ 4,050 and the 100-hour simple advancing average.
- There was a break over an important bearish trend line with resistance at $ 4,000 on the hourly table ETH/USD (data feed via Kraken).
- The couple can continue to rise if it settles above $ 4,170 and $ 4,200.
Ethereum -Price Restores
Ethereum -Price remained supported above the level of $ 3,820 and started a recovery wave, such as Bitcoin. ETH price was able to recover above the resistance levels of $ 3,880 and $ 4,000.
There was a clear movement above the 50% FIB racement level of the downward wave of the $ 4,275 swing high to $ 3,826 low. By the way, there was a break over an important bearish trend line with resistance at $ 4,000 on the ETH/USD card per hour.
Ethereum price is now traded above $ 4,050 and the 100-hour simple advancing average. At the top the price can experience the resistance near the level of $ 4,150. The following key resistance is near the $ 4,170 level or the 76.4% FIB retracement level of the downward wave of the $ 4,275 Swing high to $ 3,826 low.
The first major resistance is near the level of $ 4,200. A clear movement above the $ 4,200 resistance can send the price to $ 4,250 resistance. An upward break above the $ 4,250 region can request more profit in the upcoming sessions. In the indicated case, Ether could rise to the $ 4,320 resistance zone or even $ 4,350 in the short term.
Another decline of ETH?
If Ethereum did not know the resistance of $ 4,200, this can start a new decline. The first support on the disadvantage is near the level of $ 4,050. The first major support is near the $ 4,000 zone.
A clear movement under the support of $ 4,000 can push the price to $ 3,920 support. More losses can send the price in the short term to the $ 3,880 region. The following key support is at $ 3,820.
Technical indicators
Hour MacD – The MACD for ETH/USD loses momentum in the bullish zone.
Hour RSI – The RSI for ETH/USD is now above 50 zone.
Major support level – $ 4,050
Large resistance level – $ 4,200