Ethereum -Price started a recovery wave above $ 4,150. ETH is now consolidating and can strive for more profit if it knew the $ 4,220 resistance.
- Ethereum remained stable above $ 4,020 and started a recovery wave.
- The price is traded above $ 4,150 and the 100-hour simple advancing average.
- There is a connecting bullish trend line that forms with support at $ 4,100 on the hourly table ETH/USD (data feed via Kraken).
- The couple could continue to rise if it settles above $ 4,220 and $ 4,250.
Ethereum price eyes more profit
Ethereum -Price remained supported above the level of $ 4,020 and started a recovery wave, such as Bitcoin. ETH price was able to restore $ 4,050 and $ 4,120 above the resistance levels.
There was a clear movement above the 61.8% FIB retracement level of the downward wave of the $ 4,275 swing high to $ 3,826 low. The bulls even pushed the price above $ 4,200. By the way, there is a connecting bullish trend line that forms with support for $ 4,100 on the ETH/USD graph per hour.
Ethereum price is now traded above $ 4,150 and the 100-hour simple advancing average. It is also above the 76.4% FIB racement level of the downward wave of the $ 4,275 Swing high to the $ 3,826 low.
At the top the price can experience the resistance near the level of $ 4,220. The next key resistance is near the level of $ 4,250. The first major resistance is near the level of $ 4,275. A clear movement above the $ 4,275 resistance can send the price to the $ 4,320 resistance. An upward break above the $ 4,320 region can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 4,450 resistance zone or even $ 4,500 in the short term.
Pullback in ETH?
If Ethereum did not know the resistance of $ 4,250, this can start a new decline. The first support at the disadvantage is near the level of $ 4,150. The first major support is near the $ 4,100 zone and the trend line.
A clear movement under the support of $ 4,100 can push the price to $ 4,050 support. More losses can send the price in the short term to the $ 4,000 region. The following key support is $ 3,880.
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 – $ 4,100
Large resistance level – $ 4,250