Ethereum Price Gathers Strength – Will a Fresh Increase Come Next?

Ethereum price started a fresh increase from the $4,240 ￰0￱ is now consolidating and might aim for more gains if it clears $4,400. Ethereum is now eyeing an upside break above the $4,400 ￰1￱ price is trading above $4,320 and the 100-hourly Simple Moving ￰2￱ was a break above a key bearish trend line with resistance at $4,330 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it settles above $4,380 and $4,400. Ethereum Price Eyes Upside Break Ethereum price started a recovery wave after it formed a base above the $4,220 zone, like ￰3￱ price was able to climb above the $4,320 and $4,350 resistance levels.

Besides, there was a break above a key bearish trend line with resistance at $4,330 on the hourly chart of ETH/USD. The pair even climbed above $4,400 before there was a ￰4￱ recent low was formed at $4,300 and the price is testing the 50% Fib retracement level of the recent decline from the $4,450 swing high to the $4,300 ￰5￱ price is now trading above $4,320 and the 100-hourly Simple Moving ￰6￱ the upside, the price could face resistance near the $4,375 ￰7￱ next key resistance is near the $4,415 level or the 76.4% Fib retracement level of the recent decline from the $4,450 swing high to the $4,300 ￰8￱ first major resistance is near the $4,450 level.

A clear move above the $4,450 resistance might send the price toward the $4,550 ￰9￱ upside break above the $4,550 resistance might call for more gains in the coming ￰10￱ the stated case, Ether could rise toward the $4,650 resistance zone or even $4,800 in the near ￰11￱ Decline In ETH? If Ethereum fails to clear the $4,415 resistance, it could start a fresh ￰12￱ support on the downside is near the $4,335 ￰13￱ first major support sits near the $4,280 zone. A clear move below the $4,280 support might push the price toward the $4,240 ￰14￱ more losses might send the price toward the $4,220 support level in the near ￰15￱ next key support sits at $4,160.

Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish ￰16￱ RSI – The RSI for ETH/USD is now above the 50 ￰17￱ Support Level – $4,335 Major Resistance Level – $4,415