• 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
  • Spin & WinTry
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
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Ethereum
Nexo Logo

TA: Ethereum Prints Bullish Pattern, Why ETH Could Revisit $4.5K

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

Ethereum is stable above the $4,250 pivot level against the US Dollar. ETH could accelerate higher if there is a clear break above the $4,350 resistance zone.

  • Ethereum is trading in a bullish zone above the $4,200 level.
  • The price is consolidating above $4,250 and the 100 hourly simple moving average.
  • There was a break above a key contracting triangle with resistance near $4,270 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could gain bullish momentum if there is a clear break above the $4,350 resistance zone.

Ethereum Price Is Rising

Ethereum formed a base above the $4,150 support level. ETH price started a steady recovery wave above the $4,200 resistance zone to move into short-term positive zone.

The price was able to clear the 50% Fib retracement level of the downward move from the $4,386 swing high to $4,169 low. Besides, there was a break above a key contracting triangle with resistance near $4,270 on the hourly chart of ETH/USD.

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

The pair is consolidating above $4,250 and the 100 hourly simple moving average. An initial resistance on the upside is near the $4,335 level.

The 76.4% Fib retracement level of the downward move from the $4,386 swing high to $4,169 low is also near the $4,330 level. The first major resistance is near the $4,350 level. A close above the $4,330 and $4,350 levels could start a fresh increase in the near term.

Ethereum Price

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!
Source: ETHUSD on TradingView.com

In the stated case, the price might rise towards the $4,500 level. Any more gains could lift the price towards the $4,650 breakout zone in the near term, where the bears are likely to take a stand.

Fresh Drop in ETH?

If ethereum fails to start a fresh increase above the $4,330 level, it could start a fresh decline. An initial support on the downside is near the $4,270 level.

The first key support is now forming near the $4,250 level and the 100 hourly simple moving average. A downside break below the $4,250 support might push the price further lower. In this case, ether price may perhaps decline towards the $4,150 support.

Technical Indicators

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

Hourly RSI – The RSI for ETH/USD is now correcting lower towards the 50 level.

Major Support Level – $4,150

Major Resistance Level – $4,350

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

Ethereum

TA: Ethereum Dips But Here’s Why ETH Could Start Fresh Increase

4 hours ago
Ethereum

TA: Ethereum Reclaims $2K, Why Upsides Could Be Limited Above $2.2K

2 weeks ago
Ethereum Price ETH

TA: Ethereum Dives 15%, Why Close Below $2K Is The Key

2 weeks ago
Ethereum

TA: Ethereum Nears Breakout Zone, Why ETH Might Start Recovery

2 weeks ago
Ethereum

TA: Ethereum Bears Aim Big After Recent Breakdown Below $2.5K

2 weeks ago
Ethereum

TA: Ethereum Takes Hit, Why ETH Could Plunge Below $2,700

3 weeks 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
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Global Fit Club: The World’s 1st gym that pays it’s members set to launch

May 24, 2022

The Last Palmswap Trading Competition Before Mainnet Launch. Up to 500K PALM in Prizes – for free!

May 24, 2022

Cardano NFT Disruptor – EGO.COM Enters the Game

May 24, 2022

LBank Weekly Listing Report, 23th May 2022

May 24, 2022

Muu Inu (MINU) Is Now Available for Trading on LBank Exchange

May 24, 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
  • Spin & Win

© 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.