Ethereum Price Surges Above $3,800, Eyes $4,000 Resistance
Ethereum Price Update
Ethereum (ETH) has shown a bullish trend, finding support around $3,650 and rising above key levels.
- ETH started an increase above $3,750 and $3,800.
- Currently trading above $3,800 and the 100-hourly Simple Moving Average.
- A bullish trend line is forming with support at $3,820.
- Continued support above $3,750 may facilitate further increases.
Price Movement
The price increased over 5%, surpassing resistance levels of $3,720 and $3,750. It tested $3,920, forming a high at $3,927.
- Trading above $3,800 and the 100-hourly SMA.
- Resistance noted near $3,920, with further resistance at $3,950 and $4,000.
- An upside break above $4,220 could lead to gains towards $4,350 or $4,500.
Potential Dips
If ETH does not clear $3,920, it may decline.
- Initial support near $3,820.
- Major support at $3,800; below this, potential declines to $3,735 or $3,680.
- Key support level remains at $3,650.
Technical Indicators
- MACD shows bullish momentum.
- RSI is above 50.