Ethereum price is eyeing an upside break above the ,700 resistance against the US Dollar. ETH price is now trading above ,500 and the 55 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near ,400 on the 4-hour chart (data feed from Coinbase). The pair could climb further if it stays above the ,400 support zone. Ethereum price is consolidating above the ,440 level against the US Dollar. ETH/USD could rise again if it clears the ,700 resistance zone. Ethereum Price Analysis In the past few sessions, Ethereum saw a decent increase from the ,060 zone against the US Dollar. ETH price moved above the ,200 and ,320 levels to move into a positive zone. There was a break above a key bearish trend line
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- Ethereum price is eyeing an upside break above the $3,700 resistance against the US Dollar.
- ETH price is now trading above $3,500 and the 55 simple moving average (4 hours).
- There was a break above a key bearish trend line with resistance near $3,400 on the 4-hour chart (data feed from Coinbase).
- The pair could climb further if it stays above the $3,400 support zone.
Ethereum price is consolidating above the $3,440 level against the US Dollar. ETH/USD could rise again if it clears the $3,700 resistance zone.
Ethereum Price Analysis
In the past few sessions, Ethereum saw a decent increase from the $3,060 zone against the US Dollar. ETH price moved above the $3,200 and $3,320 levels to move into a positive zone.
There was a break above a key bearish trend line with resistance near $3,400 on the 4-hour chart. The price even cleared the 50% Fib retracement level of the downward move from the $4,085 swing high to the $3,057 low. The price settled above the $3,400 level.
Ethereum is now trading above $3,440 and the 55 simple moving average (4 hours). On the downside, initial support is near the $3,500 level.
The next major support is now near the $3,400 level. A break below the $3,400 support could push the price to $3,320. Any more losses could lead the price toward $3,220 or even $3,120 in the coming days. Immediate resistance on the upside is near the $3,650 level.
The next major resistance is near the $3,700 zone or the 61.8% Fib retracement level of the downward move from the $4,085 swing high to the $3,057 low.
The main resistance sits at $3,800. A clear move above the $3,800 level could send the price toward $4,000. Any more gains could even send the price toward the $4,080 resistance zone or $4,220 in the near term.
Looking at the chart, Ethereum price is clearly trading above the $3,440 zone and the 55 simple moving average (4 hours). Overall, Ether price could climb again if it stays above the $3,400 support zone.
Technical indicators
4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is now above the 50 level.
Key Support Levels – $3,440, followed by the $3,400 zone.
Key Resistance$ Levels – $3,700 and $3,800.