I struggle with ETHEREUM price to continue higher than a $ 3,940 area. ETH is now working to merge the gains and may soon aim to move about $ 4000.
- Ethereum has started a new increase above the level of $ 3,840 and $ 3880.
- The price is traded above $ 3800 and the simple moving average is 100 hours.
- There is a declining trend line that is formed with resistance at $ 3,840 on the ETH/USD (data feeding).
- The husband can start with a new increase if she remains supported over a $ 3,725 area in the short term.
Ethereum price carries support
He struggled with ETHEREUM price to expand gains above the level of $ 3,940, such as Bitcoin. The ETH price has started a negative correction of the highest level worth $ 3939 and was traded to less than $ 3900.
The price has been traded below the level of support of $ 3,820 and settled less than the RERRERRERDING 23.6 % of the upward transition from the decrease of oscillation of $ 3,515 to an increase of $ 3,939. Moreover, there is a declining directional line formed with resistance at $ 3,840 on the ETH/USD.
However, the price is fixed higher than $ 3,720 and FIB declining level by 50 % of the upward transition from a decrease of $ 3,515 to an increase of $ 3,939. Ethereum price is now trading above $ 3800 and a simple moving average for 100 hours.
On the upper side, the price may face resistance near the level of $ 3840. The next main resistance is located near the level of $ 3880. The first main resistance approaches the level of $ 3940. It may send a clear step over $ 3,940 resistance to the price of $ 3965.
The climbing break on $ 3965 may require more gains in the upcoming sessions. In the aforementioned case, the ether may rise towards the resistance area of $ 4,000 or even 4,120 dollars in the near term.
Another decrease in ETH?
If Ethereum fails to scan $ 3,840 resistance, it may start a negative correction. Initial support on the negative side is near the level of $ 3,720. The first main support sits near the $ 3,680 region.
A clear step may lead to 3,680 dollars to pay the price to support 3650 dollars. Any other losses may send the price towards the 3 $ 3550 support level in the short term. The next main support sits at $ 3420.
Technical indicators
Every MACD watch – MACD for ETH/USD loses momentum in the upper area.
Every RSI watch – RSI for ETH/USD is now less than area 50.
Main support level – $ 3,720
The main resistance level – $ 3,840
The post Ethereum Price Poised for a Comeback – Is Another Rally on the Horizon? first appeared on Investorempires.com.
