Ethereum price started a nice rise above the $3,900 zone. ETH is consolidating gains and may aim to move above the $4,000 defense zone.
- Ethereum started a nice rise above $3,880 and $3,920.
- The price is trading below $3,920 and the 100-hourly simple moving average.
- There was a break above the main bearish trend line with resistance at $3,900 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could continue to move up if it clears the $3,980 and $4,020 resistance levels.
Ethereum Gold exchange rate is free here
Ethereum price remained stable and extended gains above $3,850 but did not do much Bitcoin. ETH was able to climb above the $3,920 and $3,980 resistance levels.
There was a break above the main bearish trend line with resistance at $3,900 on the hourly chart of ETH/USD. The bulls pushed the pair above the $4,000 and $4,010 resistance levels. The highest value of the BOAT sector was 4,019 US dollars affirming benefits. There was a slight decline below the $3,980 level.
The price even fell below the 23.6% Fib level of the move up from the $3,831 swing low to the $4,019 high. The price of Ethereum is now trading above $3,880 and the 100-hourly simple moving average.
On the upside, the price seems to be facing obstacles near the $4,000 level. The first major resistance is near the $4,020 level. The main offer now generates almost $4,050. A clear move above the $4,050 resistance could send the price towards the $4,150 resistance.
An upside break against $4,150 could call for more gains in the coming sessions. In the mentioned case, Ether could rise towards the protection zone $4,250 or even $4,320.
Another decline in ETH?
If Ethereum fails to clear the $4,000 resistance, it could start another decline. Initial support on the downside is near the $3,920 level and the 50% Fib level of the move up from the $3,831 swing low to the $4,019 high. The first major support is near the $3,880 area.
A clear move below the $3,880 support could push the price towards the $3,840 support. Any further losses could send the price towards the $3,750 support level soon. The next major support will be at $3,650.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Prime Level Support – $3,920
Major Resistance Level – $4,000
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