Ethereum Price Targets $4,000 Resistance After Recent Gains

Ethereum price is experiencing an increase above the $3,750 zone. ETH is consolidating gains and may aim to surpass the $3,980 resistance level.

Ethereum initiated an increase above $3,750 and $3,800.
The price is currently below $3,800 and the 100-hourly Simple Moving Average.
A bullish trend line is forming with support at $3,840 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to rise if it clears the $3,950 and $3,980 resistance levels.

Ethereum Price Outpaces Bitcoin

Ethereum price has remained stable, extending gains above $3,750, outperforming Bitcoin. ETH climbed above the $3,800 and $3,880 resistance levels.

Bulls pushed the pair above the $3,920 and $3,950 resistance levels, forming a high at $3,988 before consolidating. There was a minor decline below the $3,920 level and a dip below the 23.6% Fib retracement level from the $3,527 swing low to the $3,988 high.

Ethereum is trading above $3,800 and the 100-hourly Simple Moving Average, with a bullish trend line supporting at $3,840.

On the upside, the price faces hurdles near the $3,950 level. The first major resistance is at $3,980, with significant resistance forming near $4,000. A clear move above $4,000 could push the price toward $4,150.

An upward break above the $4,150 resistance might indicate further gains, potentially reaching the $4,250 or $4,320 zones.

Potential Decline in ETH?

If Ethereum fails to surpass the $3,980 resistance, it could initiate another decline. Initial support is near the $3,840 level and the trend line. Major support lies at the $3,750 zone or the 50% Fib retracement level from the $3,527 swing low to the $3,988 high.

A move below the $3,750 support may lead to a drop toward the $3,665 level, with further losses targeting the $3,550 support level. The next key support is at $3,500.

Technical Indicators

Hourly MACD: The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI: The RSI for ETH/USD is above the 50 zone.

Major Support Level: $3,840

Major Resistance Level: $3,980