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Ethereum Surges Past $4,100 – Are Bulls Ready For The Next Big Leg?
Ethereum price started a fresh recovery above $4,000. ETH is now showing positive signs but faces a major resistance near the $4,250 level. Ethereum started a recovery wave above the $4,000 and $4,100 levels. The price is trading above $4,150 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $4,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it trades above $4,250. Ethereum Price Starts Recovery Ethereum price started a recovery wave after a massive selloff below $3,800, like Bitcoin. ETH price formed a base and was able to recover above the $4,000 level. The price cleared the 50% Fib retracement level of the sharp decline from the $4,758 swing high to the $3,423 low. Besides, there was a break above a key bearish trend line with resistance at $4,100 on the hourly chart of ETH/USD. Ethereum price is now trading above $4,150 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $4,200 level. The next key resistance is near the $4,250 level and the 61.8% Fib retracement level of the sharp decline from the $4,758 swing high to the $3,423 low. The first major resistance is near the $4,320 level. A clear move above the $4,320 resistance might send the price toward the $4,400 resistance. An upside break above the $4,400 region might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,450 resistance zone or even $4,500 in the near term. Another Decline In ETH? If Ethereum fails to clear the $4,250 resistance, it could start a fresh decline. Initial support on the downside is near the $4,120 level. The first major support sits near the $4,100 zone. A clear move below the $4,100 support might push the price toward the $4,020 support. Any more losses might send the price toward the $3,950 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 – $4,020 Major Resistance Level – $4,250
Bitcoin V-Shaped Recovery Faces Hurdles – Can Bulls Sustain The Momentum?
Bitcoin price corrected losses and traded above the $114,000 level. BTC is now struggling and might face hurdles near the $116,000 level. Bitcoin started a recovery wave above the $113,500 resistance level. The price is trading below $116,000 and the 100 hourly Simple moving average. There is a bearish trend line forming with resistance at $119,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to move down if it trades below the $113,500 zone. Bitcoin Price Starts Recovery Bitcoin price started a recovery wave after a massive liquidation event below $110,000. BTC recovered above the $111,500 and $112,000 resistance levels. The price climbed above the 50% Fib retracement level of the sharp decline from the $123,750 swing high to the $100,000 low. The bulls even pushed the price above the $113,500 resistance level. However, there are many hurdles on the upside. Bitcoin is now trading below $116,500 and the 100 hourly Simple moving average. Besides, there is a bearish trend line forming with resistance at $119,500 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $116,000 level. The first key resistance is near the $116,250 level. The next resistance could be $118,000 and the 76.4% Fib retracement level of the sharp decline from the $123,750 swing high to the $100,000 low. A close above the $118,000 resistance might send the price further higher. In the stated case, the price could rise and test the $119,500 resistance and the trend line. Any more gains might send the price toward the $120,000 level. The next barrier for the bulls could be $122,500. Another Decline In BTC? If Bitcoin fails to rise above the $116,000 resistance zone, it could start a fresh decline. Immediate support is near the $114,000 level. The first major support is near the $113,500 level. The next support is now near the $113,500 zone. Any more losses might send the price toward the $112,500 support in the near term. The main support sits at $110,500, below which BTC might struggle to recover in the short term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $113,500, followed by $112,500. Major Resistance Levels – $116,000 and $118,000.
Ethereum Surges Past $4,100 – Are Bulls Ready For The Next Big Leg?
Ethereum price started a fresh recovery above $4,000. ETH is now showing positive signs but faces a major resistance near the $4,250 level. Ethereum started a recovery wave above the $4,000 and $4,100 levels. The price is trading above $4,150 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $4,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it trades above $4,250. Ethereum Price Starts Recovery Ethereum price started a recovery wave after a massive selloff below $3,800, like Bitcoin. ETH price formed a base and was able to recover above the $4,000 level. The price cleared the 50% Fib retracement level of the sharp decline from the $4,758 swing high to the $3,423 low. Besides, there was a break above a key bearish trend line with resistance at $4,100 on the hourly chart of ETH/USD. Ethereum price is now trading above $4,150 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $4,200 level. The next key resistance is near the $4,250 level and the 61.8% Fib retracement level of the sharp decline from the $4,758 swing high to the $3,423 low. The first major resistance is near the $4,320 level. A clear move above the $4,320 resistance might send the price toward the $4,400 resistance. An upside break above the $4,400 region might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,450 resistance zone or even $4,500 in the near term. Another Decline In ETH? If Ethereum fails to clear the $4,250 resistance, it could start a fresh decline. Initial support on the downside is near the $4,120 level. The first major support sits near the $4,100 zone. A clear move below the $4,100 support might push the price toward the $4,020 support. Any more losses might send the price toward the $3,950 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 – $4,020 Major Resistance Level – $4,250
Bitcoin V-Shaped Recovery Faces Hurdles – Can Bulls Sustain The Momentum?
Bitcoin price corrected losses and traded above the $114,000 level. BTC is now struggling and might face hurdles near the $116,000 level. Bitcoin started a recovery wave above the $113,500 resistance level. The price is trading below $116,000 and the 100 hourly Simple moving average. There is a bearish trend line forming with resistance at $119,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to move down if it trades below the $113,500 zone. Bitcoin Price Starts Recovery Bitcoin price started a recovery wave after a massive liquidation event below $110,000. BTC recovered above the $111,500 and $112,000 resistance levels. The price climbed above the 50% Fib retracement level of the sharp decline from the $123,750 swing high to the $100,000 low. The bulls even pushed the price above the $113,500 resistance level. However, there are many hurdles on the upside. Bitcoin is now trading below $116,500 and the 100 hourly Simple moving average. Besides, there is a bearish trend line forming with resistance at $119,500 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $116,000 level. The first key resistance is near the $116,250 level. The next resistance could be $118,000 and the 76.4% Fib retracement level of the sharp decline from the $123,750 swing high to the $100,000 low. A close above the $118,000 resistance might send the price further higher. In the stated case, the price could rise and test the $119,500 resistance and the trend line. Any more gains might send the price toward the $120,000 level. The next barrier for the bulls could be $122,500. Another Decline In BTC? If Bitcoin fails to rise above the $116,000 resistance zone, it could start a fresh decline. Immediate support is near the $114,000 level. The first major support is near the $113,500 level. The next support is now near the $113,500 zone. Any more losses might send the price toward the $112,500 support in the near term. The main support sits at $110,500, below which BTC might struggle to recover in the short term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $113,500, followed by $112,500. Major Resistance Levels – $116,000 and $118,000.