TA: Ethereum Smashes $4K, Why ETH Is Not Done Yet


Ethereum prolonged its rally and it traded to a brand new all-time excessive above $4,000 in opposition to the US Dollar. ETH value is exhibiting quite a lot of optimistic indicators and it’s more likely to climb above $4,100.

  • Ethereum prolonged its rally above $3,900 and it traded to a brand new all-time excessive close to $4,030.
  • The value is now buying and selling nicely above $3,950 and the 100 hourly easy transferring common.
  • There is a vital bullish pattern line forming with help close to $3,920 on the hourly chart of ETH/USD (information feed through Kraken).
  • The pair is more likely to proceed greater in direction of the $4,100 and $4,150 resistance ranges.

Ethereum Price Rallies Further

Ethereum remained nicely supported above the $3,750 zone. The final swing low was fashioned close to $3,722 earlier than ETH value began a contemporary enhance. It outpaced bitcoin and it broke the $3,900 resistance to start out a contemporary rally.

It even climbed above the $3,950 degree and a connecting bearish pattern line on the hourly chart. The pair prolonged its rally above $4,000 and it traded to a brand new all-time excessive close to $4,030. Ether value is now buying and selling nicely above $3,950 and the 100 hourly simple moving average.

The present value motion may be very optimistic, with a right away resistance at $4,050. It is near the 1.236 Fib extension degree of the downward transfer from the $3,985 excessive to $3,722 low.

Source: ETHUSD on TradingView.com

The first main resistance is close to the $4,150 degree. It represents the 1.618 Fib extension degree of the downward transfer from the $3,985 excessive to $3,722 low. Any extra features might set the tempo for a robust upward transfer in direction of the $4,200 and $4,250 ranges within the close to time period. The subsequent main cease for the bulls might probably be $4,500.

Dips Supported in ETH?

If Ethereum fails to proceed greater in direction of $4,150, it might begin a draw back correction. An preliminary help on the draw back is close to the $3,950 degree.

The first key help is close to the $3,920 degree. There can be a vital bullish pattern line forming with help close to $3,920 on the hourly chart of ETH/USD. If there’s a draw back break under the pattern line, the pair might dive in direction of the $3,800 help zone.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is now gaining momentum within the bullish zone.

Hourly RSIThe RSI for ETH/USD is nicely above the 60 degree.

Major Support Level – $3,920

Major Resistance Level – $4,150



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