Breakout Alert: ETH Up 5%, $4,900 the Next Battlefield
Ethereum price surged after finding support at $4,200. ETH is increasing and may shortly break $4,620.
Ethereum rose again over $4,250 and $4,350.
The price is over $4,400 and the 100-hour SMA.
The hourly ETH/USD chart shows a positive trend line with support at $4,400.
If supported over $4,200, the pair may rise again.
Ethereum Price Rises Again
Ethereum rose from $4,150, topping Bitcoin. ETH recovered over $4,320 and $4,350 barrier.
Bulls even broke $4,400 resistance. Last, the price tested $4,635 resistance. With a high of $4,634, the price is consolidating gains above the 23.6% Fib retracement line of the upward run from $4,171 swing low to $4,634.
Ethereum is over $4,400 and the 100-hour SMA. On the hourly ETH/USD chart, a positive trend line with support at $4,400 is formed.
Price may find resistance at $4,620 on the upside. Around $4,650 is the next major resistance. At $4,680, serious resistance begins. A clean break over $4,680 might push the price above $4,750.
Above $4,750 barrier might lead to greater advances in the following sessions. Ether may soar to $4,800 or $4,840 in the short future.
Does ETH Support Dips?
Ethereum may correct below $4,620 if it fails to break. Near $4,525 is first downside support. First significant support is around $4,400.
A decisive break below $4,400 might bring the price around $4,350. If losses continue, the price may reach $4,350 support. The next support is $4,250.
Tech Indicators
Hourly ETH/USD MACD is rising in the positive zone.
Hourly ETH/USD RSI is over 50.
Major Support: $4,400
Major Resistance: $4,680
#ETHOvertakesNetflix #ETHTreasuryStrategy #BTCReclaims120K $ETH
