Ethereum -Price started a new increase above $ 3,720 zone. ETH now shows bullish drawing and can continue to rise to the $ 3,850 zone.
- Ethereum started a new increase above the level of $ 3,720.
- The price is traded above $ 3,670 and the 100-Urly simple advancing average.
- There is an important bullish trend line that forms with support for $ 3,670 on the hourly table ETH/USD (data feed via Kraken).
- The couple could start a new increase if it is supported in the short term above the $ 3,650 zone.
Ethereum -Price strives for a new increase above $ 3,800
Ethereum -Price started a new increase above $ 3,660 zone, better than Bitcoin. ETH price was given pace for a movement above the $ 3,720 resistance zone to stay in a positive zone.
The bulls even pumped the price above $ 3,800. Finally, it tested the $ 3,860 zone. A high was formed at $ 3,859 and the price recently corrected some profit. There was a movement below the 50% FIB racement level of the upward movement of the $ 3,481 Swing low to $ 3,859 high.
The price tested the 61.8% FIB racement level of the upward movement of the $ 3,481 Swing low to the $ 3,859 high. Ethereum price is now traded above $ 3,650 and the 100-hour simple advancing average. There is also an important bullish trend line that forms with support for $ 3,670 on the hourly table ETH/USD.
At the top the price can experience the resistance near the level of $ 3,770. The next key resistance is near the level of $ 3,800. The first major resistance is near the level of $ 3,850. A clear movement above the $ 3,850 resistance can send the price to the $ 3,920 resistance.
An upward break above the $ 3,920 resistance can request more profit in the upcoming sessions. In the indicated case, Ether could rise to the $ 4,000 resistance zone or even $ 4,200 in the short term.
Are disadvantages supported in ETH?
If Ethereum did not know the resistance of $ 3,770, this can start a downward correction. The first support at the disadvantage is near the level of $ 3,670. The first major support is near the $ 3,650 zone.
A clear movement under the support of $ 3,620 can push the price to $ 3,550 support. More losses can send the price in the short term to the support level of $ 3,450. The following key support is at $ 3,320.
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.
Large support level – $ 3,670
Large resistance level – $ 3,800