Etherium

Ethereum Price Analysis: Surge Towards $4000 Imminent

9 месяцев тому назад admin

Ethereum’s price is breaking above the $3550 resistance level, closely following Bitcoin’s lead and potentially targeting the $4000 resistance zone soon.

Ethereum Initiates a Fresh Rally

Ethereum’s price surge persists above the $3500 mark, mirroring Bitcoin’s upward momentum. BTC surged and surpassed the $68,000 level. ETH exhibits signs of strength, climbing above $3650.

A significant move above $3700 has occurred, marking a new multi-month high at $3715. Currently, the price is consolidating gains, trading above the 23.6% Fibonacci retracement level.

Ethereum is currently trading above $3650 and the 100-hour simple moving average. On the hourly ETH/USD chart, a bullish trend line is forming with support near $3600, closely aligning with the 50% Fibonacci retracement level.

Resistance Levels and Potential Upside

Immediate resistance to the upside lies near $3720, followed by significant levels at $3780 and $3850. A break above $3850 could fuel bullish momentum, possibly targeting $3920 next.

If Ethereum moves above the $3920 resistance, it could even rally towards $4000, potentially requiring a test of $4200 for further upside.

Downside Correction for Ethereum?

Failure to overcome the $3720 resistance might trigger a downside correction. Initial support is near $3650, followed by the $3600 zone and the bullish trend line. A significant support zone lies near $3550, with further losses possibly extending to $3420 and $3350.