Ethereum Price Indicators Flash Green: More Upside Ahead?

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Ethereum price is slowly moving above the resistance zone at $3,800. ETH could gain bullish momentum if it breaks through the resistance levels at $3,880 and $3,920.

  • Ethereum maintains gains above the $3,800 level.
  • The price is holding above $3,840 and the 100-hour elementary moving average.
  • A key uptrend line is forming on the hourly chart of ETH/USD (data fed via Kraken) with support near $3,840.
  • The pair may start a up-to-date rally unless there is a close below the $3,800 support.

Ethereum price has more advantages

Ethereum price remained stable above the support zone at $3,760. ETH formed a base and began another rally above the $3,800 level, just like Bitcoin.

There was a move above the $3,820 and $3,840 levels. The price tested the resistance zone at $3,880. The highest level was formed at $3,884 and the price is currently consolidating increases within a certain range. It has already tested the 23.6% Fib retracement level for an upward move from a low of $3,729 to a high of $3,884.

Ethereum is currently trading above $3,800 and the 100-hour elementary moving average. A key bullish trendline is also forming on the hourly chart of ETH/USD with support near $3,840.

If another rally occurs, ETH may face resistance near the $3,880 level. The first major resistance is near the $3,920 level. An upward break above the resistance at $3,920 could result in a price rally. The next key resistance is at the $4,000 level, above which the price may gain strength and rise towards the $4,080 level.

Source: ETHUSD on

If bulls push Ether above the $4,080 level, the price could move higher and test the resistance at $4,200. Any further gains could push Ether towards the $4,320 resistance zone.

Are dips supported in ETH?

If Ethereum fails to overcome the resistance at $3,880, it may begin a downward correction. Initial downside support is located near $3,840 and the trend line.

The next major support is located near the $3,800 zone and the 50% Fib retracement level, which is an upward move from a low of $3,729 to a high of $3,884. A clear move below the support at $3,800 could push the price towards $3,720. Larger losses could push the price towards the $3,650 level in the near future.

Technical indicators

Hourly MACDMACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is currently above the 50 zone.

Main support level – USD 3,800

Major resistance level – $3,880


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