Ethereum Price Recovers Above $3,880, Eyes $4,050 Resistance Break

Ethereum Recovery and Potential Upside

  • Ethereum price recovered above $3,880 and is now trading over $3,920.
  • The price broke a bearish trend line at $3,940, with resistance on the ETH/USD hourly chart.
  • There is potential for further gains if the price surpasses the $4,050 resistance.

Resistance Levels and Future Moves

  • Key resistance levels are at $4,050, $4,120, and $4,220.
  • A move above $4,220 could push the price to $4,320, potentially reaching $4,440 or $4,500.

Ethereum Price

Potential Downside Risks

  • If Ethereum fails to break $4,050 resistance, a decline could occur.
  • Support levels to watch are $3,940, $3,880, and $3,820.
  • A drop below $3,820 might lead to a decline toward $3,680 or $3,620.

Technical Indicators

  • Hourly MACD is gaining momentum in the bullish zone.
  • Hourly RSI is above the 50 mark.

Ethereum investors should monitor these levels for potential price movements.