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TA: Ethereum Surges Above $4K, Why Dips Could Turn Attractive

TA: Ethereum Surges Above $4K, Why Dips Could Turn Attractive


NewsBTC
2021-12-16 05:28:58
TA: Ethereum Surges Above $4K, Why Dips Could Turn Attractive

Ethereum is up 5% and the bulls pumped the price above $4,000 against the US Dollar. ETH price could continue to rise if it stays above the $3,920 support. Ethereum gained pace for a move above the $3,850 and $3,920 resistance levels. The price is trading above $4,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $3,840 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $3,920 support and the 100 hourly SMA. Ethereum Price Gains Momentum Ethereum started a steady recovery wave above the $3,800 and $3,850 resistance levels. ETH was able to gain pace after there was a close above the $3,850 level. The bulls push the price above the 50% Fib retracement level of the key decline from the $4,175 swing high to $3,666 low. Besides, there was a break above a key bearish trend line with resistance near $3,840 on the hourly chart of ETH/USD. Ether price is now trading above $4,000 and the 100 hourly simple moving average. It tested the $4,050 resistance zone. The stated resistance is near the 76.4% Fib retracement level of the key decline from the $4,175 swing high to $3,666 low. Source: ETHUSD on TradingView.com The next major resistance is near the $4,080 level. A clear move above the $4,080 level could start a fresh increase in the near term. The next stop for the bulls could be $4,150. A close above the $4...

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