Ethereum -Price started a close correction of the $ 4,780 zone. ETH rises again from $ 4,480 and can try a steady increase.
- Ethereum started a new increase above the levels of $ 4,520 and $ 4,550.
- The price acts above $ 4,550 and the 100-hour simple advancing average.
- There is a bullish trend line that forms with support for $ 4,500 on the hourly table ETH/USD (data feed via cracking).
- The couple could continue to rise if it is supported above $ 4,500 zone in the short term.
Ethereum -Price dips remain attractive
Ethereum -Price started a new increase above the $ 4,600 support zone, with Bitcoin defeated. ETH price was able to climb above the resistance levels of $ 4,650 and $ 4,700.
The bulls even pushed the price above the $ 4,720 resistance zone. Finally, the price tested the $ 4,780 resistance zone. A highlight was formed at $ 4,782 and the price recently corrected a profit under the 23.6% FIB retracement level of the upward movement of the $ 4,170 Swing low to $ 4,782 high.
However, the bulls were active near the support of $ 4,480. They protected the 50% FIB racement level of the upward movement of the $ 4,170 swing low to $ 4,782 high. The price rises again and shows positive signs.
Ethereum price is now traded above $ 4,550 and the 100-hour simple advancing average. There is also a bullish trend line that forms with support for $ 4,500 on the hourly table ETH/USD. At the top the price can experience the resistance near the level of $ 4,640.
The next key resistance is near the level of $ 4,680. The first major resistance is near the level of $ 4,720. A clear movement above the $ 4,720 resistance can send the price to $ 4,780 resistance. An upward break above the $ 4,780 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the resistance zone of $ 4,880 or even $ 5,000 in the short term.
Another pullback in ETH?
If Ethereum did not know the resistance of $ 4,700, this can start a downward correction. The first support on the disadvantage is near the level of $ 4,550. The first major support is near the $ 4,500 zone.
A clear movement under the support of $ 4,500 can push the price to $ 4,400 support. All losses can send the price in the short term to the support level of $ 4,315. The following key support is at $ 4,250.
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 – $ 4,500
Large resistance level – $ 4,700