Ethereum Price has found support near the $ 4,200 area and has started a new wave. Eth is increasing and could soon aim for a move above the $ 4,620 area.
- Ethereum has started a new increase above the levels of $ 4,250 and $ 4,350.
- The price is exchanged over $ 4,400 and the simple 100 -hour mobile average.
- There is a bullish trend line that is formed with $ 4,400 support on ETH/USD hours graphic (data feed via Kraken).
- The torque could start a new increase if it remains supported above the $ 4,200 in the short term area.
Ethereum Price Rollies again
Ethereum Price has started a new increase from the support area of $ 4,150, beating Bitcoin. The ETH price was able to recover above the resistance levels of $ 4,320 and $ 4,350.
Bulls have even pushed the price above the $ 4,400 resistance area. Finally, the price tested the resistance area of $ 4,635. A maximum has been formed at $ 4,634 and the price is now consolidating earnings above the FIB retracement level of 23.6% of the move upwards from the swing of $ 4,171 at the bottom of the maximum of $ 4,634.
The price of Ethereum is now exchanged over $ 4,400 and the simple 100 -hour mobile average. There is also a bullish trend line that is formed with $ 4,400 support on ETH/USD timetable.
On the positive side, the price could face the resistance near the level of $ 4,620. The next resistance to the key is close to the $ 4,650 level. The first great resistance is close to the level of $ 4,680. A clear move above the resistance of $ 4,680 could send the price to the resistance of $ 4,750.
A pause above the $ 4,750 resistance may require further earnings in the next sessions. In the declared case, the ether could rise to the resistance area of $ 4,800 or even $ 4,840 in the short term.
Are jumps supported in ETH?
If Ethereum is unable to cancel the resistance of $ 4,620, it could start a downward correction. The initial support on the downside is close to the level of $ 4.525. The first large support is located near the $ 4,400 area.
A clear move below the support of $ 4,400 could push the price towards the support of $ 4,350. Other losses may send the price to the support level of $ 4,350 in the short term. The next key support is located at $ 4,250.
Technical indicators
Macd timetable – The MacD for Eth/USD is gaining momentum in the bullish area.
TIE TIME – The RSI for Eth/USD is now above the 50 area.
Main support level – $ 4,400
Main resistance level – $ 4,620