Ethereum has found solid support around the $4,200 mark and quickly initiated a new bullish surge. Currently, ETH is trading above $4,400, maintaining a positive trend and may soon advance to important resistance areas.

📈 Recent Price Movements

  • From the low of $4,150: ETH surged strongly, surpassing resistance levels of $4,250 and $4,350.

  • Breaking above $4,400: Buying pressure remains strong, pushing the price to test the $4,635 mark before pausing.

  • Current support: An upward trend line appears on the 1-hour chart with support at $4,400 (data from Kraken).

  • Technical framework: The price remains above the 100-hour SMA, reinforcing the bullish trend.

🔍 Important Technical Milestones

  • Nearest resistance: $4,620 – if successfully broken, ETH may challenge $4,650 and $4,680.

  • Higher targets: Breaking above $4,680 will open the possibility of advancing towards $4,750, even $4,800 – $4,840.

  • Short-term support: $4,525 and $4,400 – this is the area that needs to be upheld to maintain the bullish trend.

  • Deeper support: $4,350 and $4,250 – if these levels are breached, selling pressure may increase.

📊 Technical Indicators

  • MACD (1-hour frame): Continues to expand in the positive zone, indicating buying dominance.

  • RSI (1-hour frame): Maintains above 50, reflecting market sentiment leaning towards the bulls.

📝 Conclusion

Ethereum is maintaining a stable bullish foundation after recovering from the $4,150 – $4,200 range. As long as ETH stays above $4,400, the bullish trend may continue with target milestones of $4,620 – $4,680, further at $4,750 and $4,840. However, investors need to pay attention to the support zone of $4,400, as a breach of this level could pull the price back to $4,350 or $4,250.