🚀 ETH Bulls Charge Key Barrier — Is a Breakout Imminent?

Ethereum began a rebound over $4,150. ETH is back over $4,250 but faces several challenges at $4,300.

Ethereum rallied over $4,200 and $4,250.

The price is below $4,320 and the 100-hour SMA.

The hourly ETH/USD chart shows a negative trend line with resistance at $4,300.

If it falls below $4,180, the pair may continue to fall.

Ethereum Price Struggles

Ethereum continued losses after closing below $4,200, like Bitcoin. Bearish momentum pushed ETH below $4,110.

Bears pushed the price below $4,080. Finally, $4,065 was tried. The price created a low around $4,065 and launched a rebound wave above the 23.6% Fib retracement level of the previous slide from the $4,580 swing high to the low.

The price failed to break $4,350 and the 61.8% Fib retracement level of the latest slide from $4,580 swing high to $4,065 low. The hourly ETH/USD chart shows a negative trend line with resistance at $4,300.

Ethereum has fallen below $4,300 and the 100-hour SMA. Price may find resistance at $4,300 on the upside. Around $4,350 is the next major resistance.

Near $4,385 is the first substantial resistance. A clean break above $4,385 might push the price above $4,450. Above $4,450 barrier might lead to greater advances in the following sessions. Ether may soar to $4,500 or $4,550 soon.

Another ETH Drop?
Ethereum may fall if it fails to break $4,300. At $4,220, downward support begins. Near $4,180 is the first big support.

A decisive break below $4,180 might bring the price around $4,120. More losses might push the stock toward $4,065 support. The next support is $4,000.

Tech Indicators

ETH/USD hourly MACD is losing momentum in the negative zone.

Hourly ETH/USD RSI is over 50.

Major Support—$4,180

Major Resistance: $4,385

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