Ethereum has started a new rise above $ 4,175 against the US dollar. ETH could gain momentum if there is a clear break above $ 4,300 in the near term.
- Etherium was able to rise above the resistance levels of 4,175 and 4,200.
- Prices are now trading above $ 4,200 and above the simple moving average in 100 hours.
- ETH / USD (data feed via Kraken) is forming a large growing channel with support around $ 4,175 per hour chart.
- The pair could extend its growth by clearing the resistance levels of $ 4,300 and 4,320.
The price of etherium may rise further
Ethereum has started a new rise after settling above the $ 4,050 level. ETH was able to clear the োন 4,750 resistance zone and the simple moving average in 100 hours.
Ether prices have even traded above the 4,250 resistance zone. A high was formed around $ 4,313 and the price is now consolidating profits. It traded below the 4,300 level. An immediate support near the 4,260 level. The mentioned level is $ 4,313 higher than the .6 4,091 swing low near the 23.6% fib retracement level of the upward wave.
ETH / USD also has a large rising channel with support around $ 4,175 per hour chart. An immediate upward resistance is near the 4,300 level.
Source: ETHUSD on TradingView.com
The next major resistance is near the 4,320 level, above which the price could start a new rally. In that case, the price could rise to the 4,400 level. Any further gains could push the price to the 4,550 level.
Dips ETH supported?
If Etherium fails to move above the লে 4,300 and 4,320 resistance levels, it could start a new bad direction correction. An initial support on the downside is near the 4,260 level.
The first major support is near the $ 4,200 level. This is close to the 50% fib retracement level of the upward wave of the তর 4,313 high wave from the $ 4,091 swing low. The main support is around $ 4,175 and the channel trend line. Any further downside could lead the price to $ 4,050 support. The next major support for the bulls is near the 4,000 level.
MACD per hour – MACD for ETH / USD is gaining momentum in the bullish zone.
RSI per hour – ETH / USD RSI is now above 50 level.
Main support level – 4,175
Major resistance level – 4,320