Ethereum is exhibiting early indicators of a brand new rally, with $ 4,100 key

Advertisements

Ethereum is showing the first signs of a new rally slowly moving near the $ 4000 zone and the US dollar. ETH price is showing positive signs but needs to cross the USD 4100 price range for an upward move. So let’s read more in today’s Ethereum news.

Ethereum started another spike and topped the $ 4000 resistance zone, with the price trading above $ 4020 and the 100-hour simple moving average. There was also a fresh break above the major bearish trendline with resistance near $ 4,020 on the pair’s hourly charts which must cross $ 4,100 to shoot higher.

Source ETHUSD on TradingView.com

Ethereum began a fresh surge above the USD 3950 and USD 3980 resistance levels, with the price even climbing above the USD 4020 level and the 100-hour simple moving average. The pair’s hourly charts also broke above the major bearish trendline near the resistance at $ 4,200. The pair has traded as high as $ 4,075 and is consolidating gains above the 23.6% fib retracement level from rising from $ 3,750 to a high of $ 44,075. It’s still trading above $ 4,020 and the 100-hour simple moving average, with a bullish trend forming on the charts near these levels.

Immediate upside resistance is near $ 4080 with a new major resistance near $ 4100. The sharp break above these levels could push the price higher, but the next stop for the bulls could be set at $ 4200, above which the price could move to $ 4250. Further gains could push the price to a level of $ 4,350. Ethereum is showing the first signs of a new rally, but if it doesn’t initiate a new surge above the USD 4080 level, it could initiate a new downward correction. Initial downside support is near the $ 4020 level with the first major support forming near the $ 3950 level and a simple 100 hour moving average.

Crypto marketHeat map for the cryptocurrency market. Source Quantifying Crypto

The next big support is near the $ 3920 level and near the 50% fib retracement level of the recent surge from the $ 3750 low to the $ 4075 high. If it breaks below the USD 3920 support, the price could add to its losses. The hourly MACD for the pair is picking up pace in the bullish territory while the hourly RSI for the pair is above the 50 level. The main support level is at $ 3920 while the resistance level is at $ 4100.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and adhering to strict editorial guidelines. If you are interested in offering your expertise or contributing to our news website, please feel free to contact us at [email protected]


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

ETH Could Start Fresh Increase After Recent Dips: Analysis Ethereum

ETH Could Start Fresh Increase After Recent Dips: Analysis

ETH could start fresh increase after the many recent dips and after failing to...

By wpadminsonic164
ETH And BTC Keep Failing Near Their Key Hurdles Ethereum

ETH And BTC Keep Failing Near Their Key Hurdles

ETH and BTC keep failing near their key hurdles and Bitcoin price failed to...

By wpadminsonic164
Balenciaga Luxury Fashion House Accepts Payments In BTC And ETH Ethereum

Balenciaga Luxury Fashion House Accepts Payments In BTC And ETH

The Balenciaga Luxury Fashion House starts accepting payments in BTC and ETH making it...

By wpadminsonic164
Bored Ape ETH NFT Value Dropped By 32%: Value Evaluation Ethereum

Bored Ape ETH NFT Value Dropped By 32%: Value Evaluation

The Bored Ape ETH NFT Price dropped by 32% and the floor price also...

By wpadminsonic164
Ethereum’s MetaMask Pockets Handed 30 Million Customers: Evaluation Ethereum

Ethereum’s MetaMask Pockets Handed 30 Million Customers: Evaluation

Ethereum's MetaMask wallet passed 30 million users with more plans to grow rapidly as...

By wpadminsonic164
Accomplished No. 28 Ethereum

Accomplished No. 28

The Road to Altair edition 🛣⭐️ tl; dr Pyrmont forks, tests in progress After...

By wpadminsonic164
Swedish Central Bank: Bitcoin And Ethereum Are Not Currencies Ethereum

Swedish Central Bank: Bitcoin And Ethereum Are Not Currencies

The Swedish central bank Riksbank argued that Bitcoin and Ethereum are not currencies as...

By wpadminsonic164
Ethereum’s Merge Is Coming In August If Everything Goes To Plan Ethereum

Ethereum’s Merge Is Coming In August If Everything Goes To Plan

Ethereum's merge is coming in August if everything goes to plan according to the...

By wpadminsonic164

Latest Posts

Second STATE Token Launch and Declare Occasion Announcement – Medium Polkadot

Second STATE Token Launch and Declare Occasion Announcement – Medium

ParaState is pleased to announce the release of our 2nd tranche of STATE tokens...

By wpadminsonic164
BTC Information – Heineken prevê aumento de preço Videos

BTC Information – Heineken prevê aumento de preço

Painel diário de notícias de negócios e empresas, comentadas e analisadas pela Business Training...

By wpadminsonic164
Bitcoin Enchancment Proposal 21 Eases Person Expertise When Paying Invoices Bitcoin

Bitcoin Enchancment Proposal 21 Eases Person Expertise When Paying Invoices

The below is a direct excerpt of Marty's Bent Issue #1181: "BIP21 is a...

By wpadminsonic164
Instructions to Research Stablecoins | USDC, USDT, BUSD, PAXOS – Cardano Feed Cardano

Instructions to Research Stablecoins | USDC, USDT, BUSD, PAXOS – Cardano Feed

by Robin Smith May 24, 2022 DeFi videos In the part 1 of 2...

By wpadminsonic164
Kaspars Koskins, CEO of ADALend: “We’re constructing a safe lending platform on Cardano” |  Bitcoinist.com – bitcoinist.com Cardano

Kaspars Koskins, CEO of ADALend: “We’re constructing a safe lending platform on Cardano” | Bitcoinist.com – bitcoinist.com

Launch of the interview series from ADALend CEO Kaspars Koskins, one of the most...

By wpadminsonic164
Bitcoin plunges, and might there be another challenger on the way? Videos

Bitcoin plunges, and might there be another challenger on the way?

Brian Kelly on bitcoin's fall and Powell's comments on digital dollars. With CNBC's Melissa...

By wpadminsonic164
There’s an Insatiable Urge to Burn Crypto — A Have a look at Why Tasks Burn Tokens and the Advantages Bitcoin

There’s an Insatiable Urge to Burn Crypto — A Have a look at Why Tasks Burn Tokens and the Advantages

In recent times, cryptocurrencies that burn tokens have been very popular and a number...

By wpadminsonic164
Horizon provides Binance connectivity to its crypto buying and selling platform – FinanceFeeds Binance

Horizon provides Binance connectivity to its crypto buying and selling platform – FinanceFeeds

“We're already connected to main cryptocurrency exchanges and offering full scope of Principal Trading...

By wpadminsonic164