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Ethereum Price Analysis: ETH Eyes Next Upside Break

Summary:
Ethereum price is holding gains above the ,500 support against the US Dollar. ETH price is now trading above ,800 and the 55 simple moving average (4-hours). There is a major breakout pattern forming with resistance near ,965 on the 4-hours chart (data feed from Coinbase). The pair could continue to rise as long as it is above ,600 and ,500. Ethereum price is showing bullish signs below ,800 against the US Dollar. ETH/USD could accelerate further higher if it clears the ,950 and ,000 resistance levels. Ethereum Price Analysis In the past few days, ethereum saw a decent increase above ,500 against the US Dollar. ETH price even broke the ,650 resistance and settled above the 55 simple moving average (4-hours). The bulls pumped the price above the

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  • Ethereum price is holding gains above the $3,500 support against the US Dollar.
  • ETH price is now trading above $3,800 and the 55 simple moving average (4-hours).
  • There is a major breakout pattern forming with resistance near $3,965 on the 4-hours chart (data feed from Coinbase).
  • The pair could continue to rise as long as it is above $3,600 and $3,500.

Ethereum price is showing bullish signs below $3,800 against the US Dollar. ETH/USD could accelerate further higher if it clears the $3,950 and $4,000 resistance levels.

Ethereum Price Analysis

In the past few days, ethereum saw a decent increase above $3,500 against the US Dollar. ETH price even broke the $3,650 resistance and settled above the 55 simple moving average (4-hours).

The bulls pumped the price above the $3,800 and $3,850 levels. Finally, the price spiked above $4,000 and traded as high as $4,030. It is now consolidating gains below the $4,000 resistance zone. It traded below the $3,950 and $3,920 levels.

Ether traded close to the 23.6% Fib retracement level of the upward move from the $3,145 swing low to $4,030 high. There is also a major breakout pattern forming with resistance near $3,965 on the 4-hours chart.

On the upside, an initial resistance is near the $3,965 zone. The first major resistance is near the $4,000 level, above which the price is likely to resume its increase in the near term. The next stop for the bulls could be near the $4,500 level. An intermediate resistance might be near the $4,200 level.

An immediate support is near the $3,900 level and the triangle lower trend line. If there is a downside break below the trend line support, the price could test $3,700. Any more losses could lead the price towards $3,600. It is near the 50% Fib retracement level of the upward move from the $3,145 swing low to $4,030 high.

Ethereum Price

Ethereum Price

Looking at the chart, Ethereum price is clearly trading well above the $3,600 zone and the 55 simple moving average (4-hours). Overall, ether price could continue to rise as long as it is above $3,600 and $3,500.

Technical indicators

4 hours MACD – The MACD for ETH/USD is slowly gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is still above the 50 level.

Key Support Levels – $3,900, followed by the $3,700 zone.

Key Resistance Levels – $3,965 and $4,000.

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