Ethereum Bulls Lead: $4K Within Reach

Ethereum price is rising beyond $3,600. ETH may likely break the $3,800 barrier zone due to optimistic indications.

Ethereum rose from $3,550.
The price is above $3,550 and the 100-hour SMA.

The hourly ETH/USD chart shows a positive trend line with support at $3,700.

The pair might rise again if it breaks $3,750.
Ethereum Price Expects Growth

Ethereum price stayed over $3,350 and rose like Bitcoin. ETH broke $3,450 and $3,550 barrier.

Bulls pushed price beyond $3,700. The price is consolidating gains after hitting $3,748. Below $3,720, prices fell somewhat. Price dropped and challenged the 23.6% Fib retracement line of the rising wave from $3,572 swing low to $3,748 high.

Ethereum is over $3,550 and the 100-hour SMA. On the hourly ETH/USD chart, a positive trend line connects to $3,700.


The price may face resistance at $3,740 on the upside. Around $3,750 is the first substantial obstacle. Main resistance is about $3,800. A clean break over $3,800 might push the price above $3,880. Above $3,880 barrier might lead to greater advances in the following sessions. In this situation, Ether may reach $3,940 or $4,000.

ETH Downside Correction?
Ethereum may fall again if it fails to break $3,750. The downside has first support at $3,700. Around $3,675 is the first substantial support.

A clean break below $3,675 support might bring the price near $3,640, the 61.8% Fib retracement level of the rising wave from $3,572 swing low to $3,748 high. If losses continue, the price may reach $3,570 support. Next important support is $3,550.

Tech Indicators

Hourly MACD - ETH/USD MACD is losing bullish momentum.

Hourly ETH/USD RSI is over 50.

Major Support: $3,700

Major Resistance: $3,750

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