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Ethereum Price Targets Upside After Surpassing $4,700
Ethereum Price Update
- Ethereum's price has risen above $4,700 and is currently correcting gains.
- The price is trading above $4,550, supported by the 100-hourly Simple Moving Average.
- A break occurred below a bullish trend line with support at $4,660 on the ETH/USD hourly chart (via Kraken).
- An increase might occur if the price surpasses the $4,650 and $4,685 resistance levels.
Resistance and Support Levels
- Resistance: Immediate at $4,650, followed by $4,685, and major at $4,700. A clear move above $4,750 could lead to targets of $4,820 or $4,880.
- Support: Initial at $4,550, with major support at $4,520. Further decline could test $4,420 and pivot level at $4,350.
Technical Indicators
- MACD: Losing momentum in the bullish zone.
- RSI: Below the 50 zone.
