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Ethereum Price Rises Above $4,120 Amid Bullish Trend
Ethereum is showing signs of recovery, trading above $4,120 and the 100-hourly Simple Moving Average.
- A bullish trend line supports the price at $4,150 on the hourly chart of ETH/USD.
- A resistance level is expected near $4,250, with key resistance around $4,400.
- If Ethereum moves past $4,400, it might reach $4,500 or higher.
- Failure to clear $4,300 could trigger a decline, with initial support at $4,150.
- A drop below $4,120 may push the price toward $4,050 or lower.
Technical indicators indicate bullish momentum:
- Hourly MACD: Gaining momentum in the bullish zone.
- Hourly RSI: Above the 50 zone.
- Major Support Level: $4,150
- Major Resistance Level: $4,300
