Ethereum Price Surges 10%, Eyes Resistance Near $4,750
Ethereum Price Overview
- Ethereum price is on an upward trend, stabilizing above $4,500.
- The current trading price is above the 100-hourly Simple Moving Average at $4,550.
- A bullish trend line supports ETH/USD at $4,550.
Price Movement and Resistance
- ETH experienced a price increase of over 10%, surpassing resistance levels at $4,500 and $4,620.
- The price reached a high of $4,759 before correcting some gains.
- Key resistance points are near $4,720, $4,750, and potentially $4,780.
- A breakthrough above $4,840 could lead to further gains, targeting $4,880 or even $4,920.
Potential Pullback
- If unable to clear the $4,750 resistance, ETH may see a decline.
- Initial support is at $4,615, with major support around $4,550.
- Further losses could drop the price to $4,500 or $4,420, with key support at $4,350.
Technical Indicators
- MACD indicates bullish momentum for ETH/USD.
- RSI is above the 50 level, suggesting positive sentiment.