Ethereum is rapidly rising — will it break through to $4K?
The price of Ethereum sharply increased after finding support at $3,650. ETH is rising and may soon surpass $3,920.
Ethereum has risen again above $3,750 and $3,800.
The price exceeds $3,800 and the 100-hour SMA.
The hourly ETH/USD chart shows a positive trend line with support at $3,820.
If support remains above $3,750, the pair may rise again.
The price of Ethereum exceeds 5%
Ethereum has risen from $3,650, outpacing Bitcoin. ETH has recovered above the barriers of $3,720 and $3,750.
Bulls have even overcome resistance at $3,850. Finally, the price tested resistance at $3,920. The price peaked at $3,927 and is consolidating profits above the 23.6% Fibonacci level from the rise from the low of $3,544 to the high.
Ethereum is above $3,800 and the 100-hour SMA. The hourly ETH/USD chart shows a positive trend line with support at $3,820.
The price may encounter resistance at $3,920 at the top. The next significant resistance is around $3,950. The first significant resistance is near $4,000. A decisive break above $4,000 could push the price above $4,220.
Above the barrier of $4,220, significant increases may follow in the next sessions. Ethereum may rise to $4,350 or $4,500 in the near future.
Are ETH declines limited?
Ethereum may fall again if it cannot break above $3,920. Support begins at $3,820. The first significant resistance is around $3,800.
A decisive break below $3,800 could lead the market to $3,735. If losses continue, the price may reach support at $3,680. The next important support is $3,650.
Technical indicators
The hourly MACD for ETH/USD is rising in the positive zone.
The hourly RSI for ETH/USD is above 50.
Main support: $3,735
Main resistance: $3,920
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