🔥 ETH Rally Tested — Resistance Zones Tighten Their Grip

Ethereum price resumed rebound over $4,350. Near $4,500, ETH may struggle to rise.

Ethereum struggles to break $4,500.

The price is over $4,400 and the 100-hour SMA.

The hourly ETH/USD chart broke above a negative trend line with resistance at $4,385

If the pair closes over $4,500 soon, it might rise.

Further Ethereum Price Recovery

After forming a base over $4,200, Ethereum price began a rebound wave like Bitcoin. ETH price broke $4,265 and $4,320 barrier.

Bulls broke the 50% Fib retracement level of the $4,660 swing high to $4,209 low critical decline. Additionally, ETH/USD broke above a negative trend line with resistance around $4,385 on the hourly chart.

Ethereum is over $4,420 and the 100-hour SMA. The price may find resistance at $4,500 or the 61.8% Fib retracement level of the crucial slide from the $4,660 swing high to the $4,209 low.

Around $4,520 is the next major resistance. At $4,555, serious resistance begins. A clean break over $4,555 might push the price above $4,620. Above $4,620 barrier might lead to greater advances in the following sessions. Ether may grow to $4,660 or $4,720 in the short future.

Another ETH drop?
Ethereum may fall again if it fails to break $4,500. The downside has first support at $4,400. Near $4,360 is the first big support.

A decisive break below $4,360 might bring the stock into $4,315 support. If losses continue, the price may reach $4,260 support. The next support is $4,220.

Tech Indicators

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

Hourly ETH/USD RSI is over 50.

Major Support—$4,360

Major Resistance: $4,500

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