💥 ETH on the Edge — $5K Target Within Striking Distance

Ethereum price surged after finding support at $4,500. ETH is increasing and may shortly break $4,750.

Ethereum rose again over $4,550 and $4,650.
The price is trading over $4,600 and the 100-hourly Simple Moving Average.
The hourly ETH/USD chart shows a bullish trend line with support at $4,480.
If sustained over $4,400, the pair may rise again.

Ethereum Price Rises

Ethereum rose from $4,180, topping Bitcoin. ETH price broke $4,500 and $4,650 barrier.

Bulls even broke $4,700 resistance. Last, the price tested $4,780 resistance. The price is consolidating gains above the 23.6% Fib retracement line of the upward run from the $4,170 swing low to the $4,782 high.

Ethereum is over $4,700 and the 100-hour SMA. The hourly ETH/USD chart shows a bullish trend line with support at $4,480.

Price may find resistance at $4,780 on the upside. Near $4,840 is the next major resistance. At $4,880, serious resistance begins. A clean break over $4,880 might push the price above $4,950.

Above $4,950 barrier might lead to greater advances in the following sessions. Ether may soar to $5,000 or $5,150 soon.

Are ETH dips limited?
Ethereum may fall if it fails to break $4,780. Near $4,700 is first downside support. Near $4,650 is the first big support.

A decisive break below $4,650 might bring the price into $4,550. If losses continue, the price may reach $4,480 support. The next support is $4,350.

Tech Indicators

Hourly ETH/USD MACD is rising in the positive zone.

Hourly ETH/USD RSI is over 50.

Major Support: $4,650

Major Resistance: $4,780

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