TA: Ethereum Rallies Above $4K, Why Rally Isn’t Over Yet

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,126,529,253,528	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,126,529,253,528

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-3,302.36	-5.45%	57,297.92	57,296.56	57,297.92

Price Change

Price Change %

Current Price

Bid Price

Offer

-3,302.36

-5.45%

57,297.92

57,296.56

57,297.92

High Price	Low Price	Open Price	Prev. Close	52 Week Range
60,785.49	56,500.00	60,649.57	60,600.28	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

60,785.49

56,500.00

60,649.57

60,600.28

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	15:39:24	0.015000	57,297.88	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

15:39:24

0.015000

57,297.88

USD

Price x Volume	Volume	Base Symbol	Related Pairs
960,096,517.67	16,544.25	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

960,096,517.67

16,544.25

TA: Ethereum Rallies Above $4K, Why Rally Isn’t Over Yet

21/10/2021 6:08am

NEWSBTC

Ethereum followed bitcoin and rallied above the $4,000 resistance against the US Dollar. ETH is correcting gains, but the bulls could remain active near $4,000. Ethereum started a fresh increase above the $3,880 and $4,000 resistance levels. The price is now trading above $4,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $3,810 on the hourly chart of ETH/USD (data feed via Kraken). The pair is correcting gains, but there are many supports near $4,050 and $4,000. Ethereum Price Rally Could Extend Ethereum started a fresh increase above the $3,880 resistance zone. ETH gained pace after it broke the $3,900 resistance zone and the 100 hourly simple moving average. There was also a break above a major bearish trend line with resistance near $3,810 on the hourly chart of ETH/USD. The pair cleared the $4,000 barrier to move further into a positive zone. It even spiked above $4,200 and formed a high near $4,240. Ether price is now correcting lower and trading below $4,200. It is trading below $4,200, with an immediate support at $4,100. The stated level is near the 23.6% Fib retracement level of the recent wave from the $3,740 swing low to $4,240 high. Source: ETHUSD on TradingView.com An immediate resistance on the upside is near the $4,200 level. The next major resistance is near the $4,240 level, above which the price might start a fresh rally. In the stated case, the price might rise towards the $4,320 level. The next major stop for the bulls may possibly be near the $4,400 level. Dips Limited in ETH? If ethereum fails to continue higher above the $4,200 and $4,220 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $4,100 level. The first key support is now forming near the $4,000 level. It is close to the 50% Fib retracement level of the recent wave from the $3,740 swing low to $4,240 high. Any more downsides could lead the price towards the $3,920 support and the 100 hourly SMA. The next key support is near $3,800. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 60 level. Major Support Level – $4,000 Major Resistance Level – $4,240

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