Ethereum Price Surges Above $4,500, Eyes Break Above $4,550
Ethereum's price is in an upward trend, recently surpassing $4,500 and now consolidating. It aims to break above the $4,550 resistance level for further gains.
- ETH is trading above $4,500 and the 100-hourly SMA.
- A bullish trend line provides support at $4,470 on the ETH/USD hourly chart.
- Resistance levels are at $4,530, $4,550, and potentially $4,580.
- Breaking above $4,580 could lead to targets of $4,650, $4,740, or even $4,800.
If Ethereum fails to clear $4,550, it may decline, with initial support at $4,470 and major support at $4,450.
- A move below $4,450 could push ETH towards $4,400, with further support at $4,370 and $4,270.
Technical Indicators:
- Hourly MACD shows bullish momentum.
- Hourly RSI is above 50.
Major Support Level: $4,450
Major Resistance Level: $4,550