• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Ethereum
Nexo Logo

TA: Ethereum Stages Major Rally, Why ETH Could Revisit $4K

Aayush Jindal by Aayush Jindal
11 months ago
in ETH
Reading Time: 2 mins read
Advertisement

Ethereum started a strong rally and it cleared $3,500 against the US Dollar. ETH price even climbed above $3,800 and it could rise further towards $4,000 in the next few days.

  • Ethereum started a major increase above the $3,500 and $3,650 resistance levels.
  • The price is now trading above $3,700 and the 100 hourly simple moving average.
  • There is a key bullish trend line forming with support near $3,600 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could dip in the short-term, but it might find bids near $3,680 or $3,620.

Ethereum Price Extends Rally

Ethereum remains in a strong uptrend above the $3,500 pivot level. ETH gained pace and it was able to surpass the $3,650 resistance level. The price even surpassed $3,750 and settled well above the 100 hourly simple moving average.

Finally, there was a break above $3,800 and the price tested the $3,840 zone. A high is formed near $3,843 and the price is now correcting lower. It traded below the $3,800 level.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

There was a break below the 23.6% Fib retracement level of the upward move from the $3,520 swing low to $3,843 high. Ether price is now consolidating near the $3,750 level. It is also trading well above $3,700 and the 100 hourly simple moving average.

Ethereum Price

Source: ETHUSD on TradingView.com

There is also a key bullish trend line forming with support near $3,600 on the hourly chart of ETH/USD. An immediate resistance on the upside is near the $3,800 level. The first major resistance is near the $3,850 level. If there is a clear break above the $3,850 level, the price could accelerate higher towards the $3,900 level. The next main resistance is near the $4,000 level.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Dips Limited in ETH?

If ethereum fails to continue higher above the $3,800 and $3,850 resistance levels, it could start a downside correction. An immediate support on the downside is near the $3,700 level.

The next major support is now forming near the $3,680 zone. It is close to the 50% Fib retracement level of the upward move from the $3,520 swing low to $3,843 high. A downside break below the $3,680 zone could lead the price towards the trend line support at $3,600.

Technical Indicators

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.

Hourly RSI – The RSI for ETH/USD is correcting lower from well above the 70 level.

Major Support Level – $3,680

Major Resistance Level – $3,850

Tags: ethereumethusdETHUSDT
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

TA- Ethereum Price struggles To Breakout – Eyes $2,000

TA- Ethereum Price struggles To Breakout – Eyes $2,000

3 days ago
Ethereum

TA: Ethereum Eyes Fresh Surge As It Holds Key Uptrend Support

6 days ago
Ethereum

TA: Ethereum Eyes Fresh Rally If It Clears This Key Breakout Zone

7 days ago
Ethereum

TA: Ethereum Consolidates Below $1,650: What Could Trigger A Sharp Decline?

1 week ago
Ethereum

TA: Ethereum Breaks Down, Why ETH Could Revisit $1,500

1 week ago
Ethereum

TA: Ethereum Consolidate Gains, Why This Support Is The Key

1 week ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Frontnode announces future support for additional cryptocurrencies (Bitcoin, Ethereum, Cardano, XRP, Dogecoin)

August 10, 2022

Hackless Pioneers B2B & B2C Security Tool for DeFi, Saving Nearly $500,000 for Clients

August 10, 2022

RoboApe and Solana: The Best Cryptocurrencies for Supporting dApps

August 10, 2022

Chronoly.io Presale Tokens Are Selling Out Fast, Hex Coin (Hex) And Filecoin (FIL) Suffer Loses

August 10, 2022

8 BEST Cloud Mining Sites of 2022

August 10, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.