Ethereum Price began a wave of recovery above $ 4,175. ETH is now consolidating and could point to more profits if he deletes the resistance of $ 4,240.
- Ethereum remained stable above $ 4,100 and began a recovery wave.
- The price is quoted above $ 4,160 and the single mobile average of 100 hours.
- There is a connection bullish trend line that is formed with $ 4,120 support in the ETH/USD -hour graph (data food through Kraken).
- The pair could continue advancing if it is resolved above $ 4,220 and $ 4,240.
Ethereum Price Eyes Upside Break
Ethereum Price remained compatible above the level of $ 4,050 and began a recovery wave, such as Bitcoin. Eth Price was able to recover above the resistance levels of $ 4,150 and $ 4,200.
The price even increased to $ 4,240 before there was a minor setback. The price is again increasing of $ 4,095 and quoting close to the FIB decrease level of 50% of the recent decrease in $ 4,237 swing to the minimum of $ 4,093. In addition, there is a connection bullish trend line that is formed with $ 4,120 support in the ETH/USD chart.
The price of Ethereum is now quoted above $ 4,160 and the simple mobile average of 100 hours. On the positive side, the price could face resistance near the level of $ 4,200 and the FIB decrease level of 76.4% of the recent decrease in the $ 4,237 swing up to the minimum of $ 4,093.
The next key resistance is close to the level of $ 4,240. The first important resistance is close to the level of $ 4,280. A clear movement above the resistance of $ 4,280 could send the price to the resistance of $ 4,320. An upward break above the region of $ 4,320 may require more profits in the next sessions. In the established case, Ether could rise to the resistance zone of $ 4,450 or even $ 4,500 in the short term.
Another decrease in ETH?
If Ethereum cannot eliminate the resistance of $ 4,200, a new decrease could begin. The initial support at the disadvantage is close to the level of $ 4,120 and the trend line. The first important support is close to the $ 4,095 area.
A clear movement below the $ 4,095 support could boost the price towards the $ 4,020 support. More losses can send the price to the region of $ 3,920 in the short term. The following key support is at $ 3,840.
Technical indicators
Macd per hour – The MACD for ETH/USD is gaining impulse in the upward zone.
RSI per hour – The RSI for ETH/USD is now above zone 50.
Important support level: $ 4,120
Greater resistance level: $ 4,240
