Ethereum -price extended its increase above the $ 3,880 zone. ETH is now profits and can soon strive for a movement for $ 4,000.
- Ethereum started a new increase above the levels of $ 3,820 and $ 3,880.
- The price acts almost $ 3,800 and the 100-hour simple advancing average.
- There was a break under an important bullish trend line with support for $ 3,800 on the hourly table ETH/USD (data specialt via Kraken).
- The couple could start a new increase if it is supported above $ 3,720 zone in the short term.
Ethereum -Price corrects some profit
Ethereum -Price remained supported above the level of $ 3,720 and started a new increase, such as Bitcoin. ETH price traded above the resistance levels of $ 3,800 and $ 3,850.
There was a movement above the level of $ 3,880. The price tested the $ 3,920 zone. A high was formed at $ 3,939 and the price now corrects profits. There was a movement below the 23.6% FIB racement level of the upward movement of the $ 3,515 Swing low to $ 3,939 high.
By the way, there was a break under an important bullish trend line with support at $ 3,800 on the ETH/USD graph per hour. Ethereum price is now traded near $ 3,800 and the 100-hour simple advancing average.
At the top the price can experience the resistance near the level of $ 3,820. The next key resistance is near the level of $ 3,840. The first major resistance is near the level of $ 3,880. A clear movement above the $ 3,880 resistance can send the price to $ 3,940 resistance.
An upward break above the $ 3,940 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise in the short term to the $ 4,000 resistance zone or even $ 4,120.
Another drop in ETH?
If Ethereum did not know the resistance of $ 3,820, this can start a downward correction. The first support at the disadvantage is near the level of $ 3,720. The first major support is near the $ 3,700 zone.
A clear movement under the support of $ 3,700 can push the price to $ 3,650 support. More losses can send the price in the short term to the support level of $ 3,550. The following key support is at $ 3,420.
Technical indicators
Hour MacD – The MACD for ETH/USD loses momentum in the bullish zone.
Hour RSI – The RSI for ETH/USD is now below 50 zone.
Large support level – $ 3,720
Main resistance level – $ 3,820