Ethereum has completed a new uptrend to break the $ 4,200 resistance level; It is now possible to form another bullish movement, but only if it crosses the $ 4,250 resistance as soon as possible.
#ETH started the uptrend initially with support at $ 4,000; It then managed to break the $ 4,120 resistance and the 100-hour moving average.
It even went beyond the $ 4,200 resistance level and conquered the $ 4,253 peak; But then it got into price correction and traded below $ 4,220. At this point, the nearest downstream support level is around $ 4,180; That means the 23.6% Fibonacci retracement level is seen moving up from the $ 3,965 floor to the $ 4,253 ceiling.
The ETH / USD's hourly chart also shows an extensive uptrend line with the support of around $ 4,180. The closest resistance level upstream is also about $ 4,240.
Above, in the $ 4,260 range, strong resistance is observed, the passage of which will provide the necessary ground for the formation of an upward movement. If the movement develops, the cows will move the #Ethereum to the $ 4,320 range, and there is a possibility of a further attack to the $ 4,500 range.
But if ETH cannot climb above the $ 4,260 resistance, there is a possibility of correction. In this case, the nearest downstream support level is around $ 4,180 and the trend line.
As the trend line breaks, the bears will be more determined to lower the price to $ 4,100; That is where the 50% Fibonacci level is seen. Lower, the $ 4,080 range and the 100-hour moving average are the main support; Ethereum is likely to fall to $ 3,950 support with its collapse.
#ETH started the uptrend initially with support at $ 4,000; It then managed to break the $ 4,120 resistance and the 100-hour moving average.
It even went beyond the $ 4,200 resistance level and conquered the $ 4,253 peak; But then it got into price correction and traded below $ 4,220. At this point, the nearest downstream support level is around $ 4,180; That means the 23.6% Fibonacci retracement level is seen moving up from the $ 3,965 floor to the $ 4,253 ceiling.
The ETH / USD's hourly chart also shows an extensive uptrend line with the support of around $ 4,180. The closest resistance level upstream is also about $ 4,240.
Above, in the $ 4,260 range, strong resistance is observed, the passage of which will provide the necessary ground for the formation of an upward movement. If the movement develops, the cows will move the #Ethereum to the $ 4,320 range, and there is a possibility of a further attack to the $ 4,500 range.
But if ETH cannot climb above the $ 4,260 resistance, there is a possibility of correction. In this case, the nearest downstream support level is around $ 4,180 and the trend line.
As the trend line breaks, the bears will be more determined to lower the price to $ 4,100; That is where the 50% Fibonacci level is seen. Lower, the $ 4,080 range and the 100-hour moving average are the main support; Ethereum is likely to fall to $ 3,950 support with its collapse.
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