Ethereum -price started a new rise and climbed above $ 4,500. ETH is now consolidating and can strive for more profit if it knew $ 4,550.
- Ethereum is now looking at an upward break above $ 4,550 zone.
- The price is traded above $ 4,500 and the 100-hour simple advancing average.
- There is a bullish trend line that forms with support at $ 4,470 on the hourly table ETH/USD (data special via Kraken).
- The couple can start a new increase if it settles above $ 4,550 and $ 4,580.
Ethereum price eyes more profit
Ethereum -Price started a recovery wave after it formed a basis above $ 4,320 zone, such as Bitcoin. ETH price was able to climb above the resistance levels of $ 4,350 and $ 4,440.
The price even climbed above $ 4,500. A high was formed at $ 4,531 and the price is now consolidating the profits. There was a small pullback, but the price remained above 23.6% FIB retracement level of the upward movement of the $ 4,268 swing low to $ 4,531 high.
Ethereum price is now traded above $ 4,500 and the 100-hour simple advancing average. In addition, there is a bullish trend line that forms with support for $ 4,470 on the ETH/USD per hour.
At the top the price can experience the resistance near the level of $ 4,530. The next key resistance is near the level of $ 4,550. The first major resistance is near the level of $ 4,580. A clear movement above the $ 4,580 resistance can send the price to $ 4,650 resistance. An upward break above the $ 4,650 resistance can request more profit in the coming sessions. In the declared case, Ether could rise to the $ 4,740 resistance zone or even $ 4,800 in the short term.
Another drop in ETH?
If Ethereum did not know the resistance of $ 4,550, this can start a new decline. The first support on the disadvantage is near the level of $ 4,470 and the trend line. The first major support is near the $ 4,450 zone.
A clear movement under the support of $ 4,450 can push the price to $ 4,400 support. More losses can send the price in the short term to the $ 4,370 PIVOT level. The following key support is at $ 4,270.
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 – $ 4,450
Large resistance level – $ 4,550