Ethereum Tests Key Resistance — Breakout Could Ignite Next R
Claudia Printy lzIK
Updated at: 3 hours ago
{"content":"Ethereum Tests Key Resistance — Breakout Could Ignite Next Rally
Ethereum rallied over $3,880. Ethereum is increasing and may gain more if it breaks $4,050.
Ethereum rallied over $3,800 and $3,880.
The price is over $3,920 and the 100-hour SMA.
The hourly ETH/USD chart broke above a negative trend line with resistance at $3,940.
Trading over $4,050 might keep the pair upward.
Ethereum Price Rises Again
Ethereum failed to break $4,050 and reversed most gains, like Bitcoin. The price of ETH fell below $4,000 and $3,800.
Even $3,680 was tried. After a low of $3,677, the price is recovering. A good rise over the 50% Fib retracement level of the latest collapse from $4,292 swing high to $3,677 low occurred.
Additionally, ETH/USD broke above a negative trend line with resistance around $3,940 on the hourly chart. Ethereum is over $3,920 and the 100-hour SMA.
Upside, the price may find resistance at $4,050 and the 61.8% Fib retracement level of the current slide from $4,292 swing high to $3,677 low. Around $4,120 is the next major resistance. Near $4,220 is the first big resistance.
A clean break over $4,220 might push the price above $4,320. Breaking $4,320 may lead to additional advances in the future sessions. Ether might soar to $4,440 or $4,500 in the short future.
Another ETH drop?
Ethereum may fall again if it fails to break $4,050. Around $3,940 is first downward support. Around $3,880 is the first substantial support.
A decisive break below $3,880 might bring the price toward $3,820. More losses might push the price toward $3,680. Next important support is $3,620.
Major Support: $3,880
Major Resistance: $4,050
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