Ethereum Rising Strong ⚡ – Bulls Set Sights on Dominance

A rebound wave began for Ethereum over $4,000 and $4,120.

The price is above $4,120 and the 100-hour Simple Moving Average.

The hourly ETH/USD chart shows a bullish trend line with support at $4,150.

Trading over $4,320 might keep the pair upward.
Ethereum Price Rises

Ethereum began a rebound over $3,850, like Bitcoin. ETH built a base and recovered over $4,000.

Price passed the 50% Fib retracement level of the major slide from $4,758 swing high to $3,422 low. Bulls broke $4,200 pivot. On the hourly ETH/USD chart, a bullish trend line with support around $4,150 is formed.

Ethereum is over $4,200 and the 100-hour SMA. Price may find resistance at $4,250 on the upside. Around $4,400 is the next major resistance.

First big barrier is at $4,440, the 76.4% Fib retracement level of the main collapse from $4,758 swing high to $3,422 low. A clean break over $4,400 might push the price above $4,500. Above $4,500 might lead to additional gains in the following sessions. In this situation, Ether may soar to $4,550 or $4,650 soon.

Another ETH drop?
Ethereum may fall again if it fails to break $4,300. The trend line and $4,150 provide first downward support. Near $4,120 is the first big support.

A decisive break below $4,120 might bring the price around $4,050. More losses might push the price toward $3,950. Next important support is $3,880.

Major Support—$4,150

Major Resistance: $4,300

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