Ethereum Surpasses $4,000 Facing Resistance at $4,220 and $4,250
Ethereum (ETH) is experiencing a recovery wave with its price moving above $4,000. Key points include:
- ETH surpassed $4,000 and $4,120, trading above the 100-hourly Simple Moving Average.
- A bullish trend line is forming with support at $4,050.
- Resistance levels are seen near $4,220, $4,250, and potentially $4,320. Surpassing $4,320 could lead to further gains toward $4,450 or even $4,550.
If ETH fails to clear the $4,220 resistance, it may decline. Support levels are at $4,150, $4,120, $4,050, and possibly $4,000. The next critical support is at $3,880.
Technical Indicators:
- The MACD for ETH/USD is bullish.
- The RSI for ETH/USD is above 50.
Major Levels:
- Support: $4,120
- Resistance: $4,220