Ethereum Price Rise: $4,000 Achievable?
Ethereum price again rose beyond $3,320. Rising ETH aims to break $3,500 resistance.
Ethereum rose again over $3,300 and $3,320.
The price is over $3,300 and the 100-hour SMA.
The hourly ETH/USD chart shows a short-term negative trend line with resistance at $3,350.
If it breaks $3,420 barrier, the pair may rise.
Ethereum Price Expects Growth
Ethereum price stayed over $3,120 and rose like Bitcoin. ETH accelerated beyond $3,220 and $3,300 barriers.
Bulls pushed price beyond $3,400. It rose over 10% to $3,499. A drop below $3,400 occurred recently. Below $3,320, the price tested $3,280. Price has created a low at $3,288 and is stabilizing above the 23.6% Fib retracement level of the current slide from the $3,499 swing high to the low.
Ethereum is over $3,300 and the 100-hour SMA. The price may face resistance at $3,350 on the upside. The hourly ETH/USD chart shows a short-term negative trend line with resistance at $3,350.
Around $3,400 is the first significant obstacle. Main resistance is approaching $3,420, the 61.8% Fib retracement level of the current slide from $3,499 swing high to $3,288 low.
A clean break over $3,420 might push the price above $3,500. Above $3,500 barrier might lead to additional advances in the following sessions. Ether may grow to $3,600 or $3,620 in this situation.
ETH Downsides Limited?
Ethereum may fall again if it fails to break $3,350. Around $3,320 is first downside support. Near $3,285 is the first big support.
A decisive break below $3,285 might send the price below $3,220. If losses continue, the price may reach $3,120 support. Next important support is $3,040.
Tech Indicators
Hourly ETH/USD MACD is rising in the positive zone.
Hourly ETH/USD RSI is over 50.
Major Support: $3,300
Major Resistance: $3,350