Ethereum Moves Higher — Buyers Strengthen Grip Amid Renewed Market Optimism
Analysis
Price Impact
HighEthereum is showing strong recovery momentum, surpassing key resistance levels and establishing a bullish trend line. further significant gains are possible if it clears critical resistance zones, indicating a potential strong upward move.
Trustworthiness
HighThe source explicitly states a 'strict editorial policy that focuses on accuracy, relevance, and impartiality,' 'created by industry experts and meticulously reviewed,' and 'the highest standards in reporting and publishing,' which instills high confidence.
Price Direction
BullishThe article highlights that buyers are strengthening their grip, eth started a recovery wave above $4,000, is trading above its 100-hourly sma, and a bullish trend line is forming. technical indicators like macd and rsi also support bullish momentum.
Time Effect
ShortThe analysis uses hourly charts, references 'coming sessions' and 'near term' for potential price movements, and discusses immediate support and resistance levels, indicating a focus on short-term trading dynamics.
Original Article:
Article Content:
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Ethereum price started a recovery wave above $4,000. ETH is moving higher but faces a couple of key hurdles near $4,220 and $4,250. Ethereum started a fresh recovery above $4,000 and $4,120. The price is trading above $4,120 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $4,050 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it trades above $4,220. Ethereum Price Eyes Steady Gains Ethereum price started a minor recovery wave above the $3,880 zone, like Bitcoin . ETH price surpassed the $4,000 and $4,050 levels to enter a short-term positive zone. The price even spiked above $4,220. A high was formed at $4,225 and the price is now consolidating gains . The price is stable above the 23.6% Fib retracement level of the recent increase from the $3,708 swing low to the $4,225 high. Ethereum price is now trading above $4,150 and the 100-hourly Simple Moving Average. Besides, there is a bullish trend line forming with support at $4,050 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com On the upside, the price could face resistance near the $4,220 level. The next key resistance is near the $4,250 level. The first major resistance is near the $4,320 level. A clear move above the $4,320 resistance might send the price toward the $4,450 resistance. An upside break above the $4,450 region might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,500 resistance zone or even $4,550 in the near term. Another Decline In ETH? If Ethereum fails to clear the $4,220 resistance, it could start a fresh decline. Initial support on the downside is near the $4,150 level. The first major support sits near the $4,120 zone. A clear move below the $4,120 support might push the price toward the $4,050 support. Any more losses might send the price toward the $4,000 region in the near term. The next key support sits at $3,880. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $4,120 Major Resistance Level – $4,220