Ethereum (Complete Technical Analysis)
Ethereum managed to break the $ 3,800 resistance level; It is currently facing resistance at $ 3,900 and is trying to dominate its current position.
Ethereum entered the positive market with a rise above the $ 3,650 price level; The uptrend started above the $ 3,750 resistance area and moved away from the 100-hour moving average.
It was followed by resistance at $ 3,800 and ETH peaked at $ 3,968; Then there was a bearish correction and the $ 3,800 support continued to fall to the $ 3,650 range until the cows finally took action.
Finally, the $ 3,640 price floor was touched and a new uptrend resumed. The $ 3,800 resistance was quickly re-conquered; ETH managed to return to the 50% Fibonacci level of the recent fall from the ceiling to the bottom of $ 3,968 to $ 3,640.
In addition, the ETH / USD pair's hourly chart also cut the downtrend line that had created resistance in the $ 3,840 range.
ETH is currently trading above the $ 3,800 moving average.
The closest resistance level upstream is around $ 3,890; Because the Fibonacci level of 76.4% has fallen there. The main resistance is considered in the same range of $ 3,960. Crossing it will pave the way for a bullish move towards $ 4,120.
If ETH is unable to break the $ 3,900 resistance level, a new bearish correction is possible. In this case, the first level of support downstream is around $ 3,820.
Below, the $ 3,800 range and moving average are the main support; Its collapse will cause a sharp fall, in which case the key support will be the $ 3,720 Ethereum Shelter.
Ethereum entered the positive market with a rise above the $ 3,650 price level; The uptrend started above the $ 3,750 resistance area and moved away from the 100-hour moving average.
It was followed by resistance at $ 3,800 and ETH peaked at $ 3,968; Then there was a bearish correction and the $ 3,800 support continued to fall to the $ 3,650 range until the cows finally took action.
Finally, the $ 3,640 price floor was touched and a new uptrend resumed. The $ 3,800 resistance was quickly re-conquered; ETH managed to return to the 50% Fibonacci level of the recent fall from the ceiling to the bottom of $ 3,968 to $ 3,640.
In addition, the ETH / USD pair's hourly chart also cut the downtrend line that had created resistance in the $ 3,840 range.
ETH is currently trading above the $ 3,800 moving average.
The closest resistance level upstream is around $ 3,890; Because the Fibonacci level of 76.4% has fallen there. The main resistance is considered in the same range of $ 3,960. Crossing it will pave the way for a bullish move towards $ 4,120.
If ETH is unable to break the $ 3,900 resistance level, a new bearish correction is possible. In this case, the first level of support downstream is around $ 3,820.
Below, the $ 3,800 range and moving average are the main support; Its collapse will cause a sharp fall, in which case the key support will be the $ 3,720 Ethereum Shelter.
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