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Categories:

Hot right now:

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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Ethereum Price Sets Sights on New Peaks: Anticipating a Bullish Breakout

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Ethereum price is again moving higher above the $3,800 resistance. ETH is now consolidating near $3,850 and is eyeing an upside break above $4,000 in the near term.

  • Ethereum started a fresh increase above the $3,750 resistance.
  • The price is trading above $3,750 and the 100-hourly Simple Moving Average.
  • There is a key bullish trend line forming with support at $3,780 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could continue to move up unless there is a break below the $3,540 support.

Ethereum Price Remains Supported for More Upsides

Ethereum price remained stable above the $3,540 support zone. ETH formed a base, outperformed Bitcoin, and started another increase above the $3,650 level.

There was a move above the $3,750 resistance. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $3,944 swing high to the $3,530 low. There is also a key bullish trend line forming with support at $3,780 on the hourly chart of ETH/USD.

Ethereum price is trading above $3,750 and the 100-hourly Simple Moving Average. It is also above the 76.4% Fib retracement level of the downward move from the $3,944 swing high to the $3,530 low.

Immediate resistance is near the $3,880 level. The first major resistance is near the $3,920 level. An upside break above the $3,920 resistance might send the price higher. The next key resistance sits at $4,000, above which the price might gain traction and rise toward the $4,080 level.

Ethereum Price

If there is a clear move above the $4,080 level, the price might rise and test the $4,220 resistance. Any more gains could send Ether toward the $4,350 resistance zone.

Another Drop In ETH?

If Ethereum fails to clear the $3,880 resistance, it could start another downside correction. Initial support on the downside is near the $3,800 level and the trend line.

The next major support is near the $3,735 zone. A clear move below the $3,735 support might push the price toward $3,630. Any more losses might send the price toward the $3,540 level in the near term.

Technical Indicators

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

Hourly RSIThe RSI for ETH/USD is still above the 50 zone.

Major Support Level – $3,800

Major Resistance Level – $3,880

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