Ethereum is currently trading at $4237 after a slight decline from a daily peak of $4385. The daily change rate is almost negligible at -0.67%, reflecting a clear state of price fluctuation.
Technical indicators:
The moving averages MA50 – MA200 still show confirmed buy signals on the medium and long-term upward trend.
The Relative Strength Index (RSI) is centered around the level of 55, which is in the neutral zone, leaving the door open for strong price movements either upward or downward.
The MACD indicator shows a weak positive crossover, but momentum is declining at resistance levels.
Support and resistance levels:
First support at $4200 – $4000; breaking this range could push the price towards $3800.
Strong resistance at $4700 – $4800, breaking this level paves the way for levels of $5000 then $5500.
Forecasts:⚡
Staying above the $4000 – $4200 area keeps the upward trend intact; any daily close above $4800 will push for a new upward wave that may extend to $5000 – $6000, while losing support at $4000 may open the door for a deeper correction towards $3800 – $3600.
In summary, Ethereum is currently moving within a range between strong support at $4200 and critical resistance at $4800. The overall trend is still upward, but the market is experiencing high volatility that calls for caution.
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