Ethereum price is moving higher above the ,000 resistance against the US Dollar. ETH price is now trading above ,000 and the 55 simple moving average (4 hours). There is a key rising channel forming with support near ,880 on the 4-hour chart (data feed from Coinbase). The pair could climb further if it stays above the ,880 support zone. Ethereum price is rising above the ,000 level against the US Dollar. ETH/USD could rise further if it clears the ,080 resistance zone. Ethereum Price Analysis In the past few sessions, Ethereum saw a decent increase above the ,650 level against the US Dollar. ETH price was able to gain pace for a move above the ,800 level and the 55 simple moving average (4 hours). The bulls even pushed the price above the ,000
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- Ethereum price is moving higher above the $4,000 resistance against the US Dollar.
- ETH price is now trading above $4,000 and the 55 simple moving average (4 hours).
- There is a key rising channel forming with support near $3,880 on the 4-hour chart (data feed from Coinbase).
- The pair could climb further if it stays above the $3,880 support zone.
Ethereum price is rising above the $4,000 level against the US Dollar. ETH/USD could rise further if it clears the $4,080 resistance zone.
Ethereum Price Analysis
In the past few sessions, Ethereum saw a decent increase above the $3,650 level against the US Dollar. ETH price was able to gain pace for a move above the $3,800 level and the 55 simple moving average (4 hours).
The bulls even pushed the price above the $4,000 resistance zone. A high is formed near $4,091 and the price is now consolidating gains. It is trading above the $4,000 level. It is also above the 23.6% Fib retracement level of the upward wave from the $3,205 swing low to the $4,091 high.
Ether price is showing positive signs above $3,800 and the 55 simple moving average (4 hours). There is also a key rising channel forming with support near $3,880 on the 4-hour chart.
Immediate resistance on the upside is near the $4,080 level. The next major resistance is near the $4,120 zone. A clear move above the $4,120 level could send the price toward $4,250. Any more gains could even send the price toward the $4,400 resistance zone or $4,500 in the near term.
On the downside, initial support is near the $3,920 level. The next major support is now near the $3,880 level, below which the price might test $3,740.
A break below the $3,740 support could push the price to $3,650 or the 50% Fib retracement level of the upward wave from the $3,205 swing low to the $4,091 high. Any more losses could lead the price towards $3,500.
Looking at the chart, Ethereum’s price is trading above the $4,000 zone and the 55 simple moving average (4 hours). Overall, Ether’s price could climb further if it stays above the $3,880 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 – $3,880, followed by the $3,740 zone.
Key Resistance$ Levels – $4,080 and $4,250.