Ethereum is currently trading at $1792 with a 4-hour timeframe, and the Relative Strength Index (RSI) is indicating a value of 43. The Fibonacci levels for the 4-hour timeframe are 0, 0.5, and 1, indicating that the support and resistance zones are at $1727, $1791, and $1857, respectively.
Ethereum has tested the support zone and bounced back from there, indicating a potential bullish trend. If traders have opened a long position near the support level, then they should consider increasing their stop loss to the breakeven point to protect their profits.
The market may continue to rise, with a potential move toward the resistance area of $1860. The resistance level may act as a barrier to the upward movement of the price, and traders should closely monitor the price action and volume in the market to identify any potential price reversals.
There may be a move toward the $1857 resistance area. If Ethereum breaks above the 0.5 Fibonacci level, which is acting as a resistance level, it could continue to move higher toward the 1 Fibonacci level.
Ethereum has tested the support zone and bounced back from there, indicating a potential bullish trend. If traders have opened a long position near the support level, then they should consider increasing their stop loss to the breakeven point to protect their profits.
The market may continue to rise, with a potential move toward the resistance area of $1860. The resistance level may act as a barrier to the upward movement of the price, and traders should closely monitor the price action and volume in the market to identify any potential price reversals.
There may be a move toward the $1857 resistance area. If Ethereum breaks above the 0.5 Fibonacci level, which is acting as a resistance level, it could continue to move higher toward the 1 Fibonacci level.
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