๐ฅ #Ethereum Stays StrongโAre Bulls Ready for the Next Leg Up? ๐๐
Ethereum price again rose beyond $3,720. ETH is displaying optimistic indicators and may surge above $3,850.
Ethereum rose again over $3,720.
The price is above $3,670 and the 100-hour SMA.
The hourly ETH/USD chart shows a bullish trend line with support at $3,670.
If supported over $3,650, the pair may rise again.
Ethereum Price Aims Above $3,800 Again
Ethereum rose beyond $3,660, outperforming Bitcoin. To stay bullish, ETH price moved over $3,720 barrier.
Bulls drove prices over $3,800. Last, it tested $3,860. The price just retreated from $3,859's peak. The $3,481 swing low to $3,859 high upward move fell below the 50% Fib retracement line.
Price challenged the 61.8% Fib retracement line of the $3,481 swing low to $3,859 high upward surge. Ethereum is over $3,650 and the 100-hour SMA. On the hourly ETH/USD chart, a bullish trend line with support around $3,670 is formed.
Price may find resistance at $3,770 on the upside. Around $3,800 is the next major resistance. Around $3,850 is the first substantial resistance. A clean break over $3,850 might push the price above $3,920.
Breaking $3,920 barrier might lead to greater advances in the following sessions. Ether may reach to $4,000 or $4,200 soon.
Does ETH Support Downsides?
Ethereum may fall if it fails to break $3,770. Around $3,670 is first downward support. Near $3,650 is the first important support.
A decisive break below $3,620 might bring the price below $3,550. If losses continue, the price may reach $3,450 support. Next important support is $3,320.
Tech Indicators
Hourly MACD - ETH/USD MACD is losing bullish momentum.
Hourly ETH/USD RSI is over 50.
Major Support: $3,670
Major Resistance: $3,800
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