Ethereum price started a recovery wave above $4,000. ETH is moving higher but faces a couple of key hurdles near $4,220 and $4,250. Ethereum started a fresh recovery above $4,000 and $4,120. The price is trading above $4,120 and the 100-hourly Simple Moving 0 is a bullish trend line forming with support at $4,050 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to move up if it trades above $4,220. Ethereum Price Eyes Steady Gains Ethereum price started a minor recovery wave above the $3,880 zone, like 1 price surpassed the $4,000 and $4,050 levels to enter a short-term positive 2 price even spiked above $4,220. A high was formed at $4,225 and the price is now consolidating 3 price is stable above the 23.6% Fib retracement level of the recent increase from the $3,708 swing low to the $4,225 4 price is now trading above $4,150 and the 100-hourly Simple Moving Average. Besides, there is a bullish trend line forming with support at $4,050 on the hourly chart of ETH/USD.
On the upside, the price could face resistance near the $4,220 5 next key resistance is near the $4,250 6 first major resistance is near the $4,320 level. A clear move above the $4,320 resistance might send the price toward the $4,450 7 upside break above the $4,450 region might call for more gains in the coming 8 the stated case, Ether could rise toward the $4,500 resistance zone or even $4,550 in the near 9 Decline In ETH? If Ethereum fails to clear the $4,220 resistance, it could start a fresh 10 support on the downside is near the $4,150 11 first major support sits near the $4,120 zone. A clear move below the $4,120 support might push the price toward the $4,050 12 more losses might send the price toward the $4,000 region in the near 13 next key support sits at $3,880.
Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish 14 RSI – The RSI for ETH/USD is now above the 50 15 Support Level – $4,120 Major Resistance Level – $4,220
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