Ethereum Prints Bullish Technical pattern, Why Close Above $4,500 Is Critical

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	357,248,473,795	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

357,248,473,795

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-9.66	-0.32%	2,977.42	2,977.58	2,977.59

Price Change

Price Change %

Current Price

Bid Price

Offer

-9.66

-0.32%

2,977.42

2,977.58

2,977.59

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,036.35	2,958.55	2,987.82	2,987.08	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,036.35

2,958.55

2,987.82

2,987.08

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	12:51:47	0.466357	2,977.42	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

12:51:47

0.466357

2,977.42

USD

Price x Volume	Volume	Base Symbol	Related Pairs
107,937,301.38	36,037.76	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

107,937,301.38

36,037.76

Ethereum Prints Bullish Technical pattern, Why Close Above $4,500 Is Critical

30/11/2021 5:08am

NEWSBTC

Ethereum gained pace above the $4,350 resistance against the US Dollar. ETH could accelerate higher if there is a clear break above the $4,500 resistance zone. Ethereum is trading in a bullish zone above the $4,350 level. The price is now well above $4,350 and the 100 hourly simple moving average. There is a key rising channel forming with support near $4,400 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue higher if it stays above the $4,350 support level in the near term. Ethereum Price Starts Fresh Increase Ethereum formed a base above the $4,350 level and started a fresh increase. ETH broke the $4,400 level to move further into a bullish zone. The price even tested the $4,500 zone and settled above the 100 hourly simple moving average. A high is formed near $4,506 and is currently correcting lower. There was a break below the $4,450 support level. Ether price also dipped below the 23.6% Fib retracement level of the upward move from the $4,282 swing low to $4,506 high. There is also a key rising channel forming with support near $4,400 on the hourly chart of ETH/USD. An initial resistance on the upside is near the $4,480 level. The first major resistance is near the $4,500 level. Source: ETHUSD on TradingView.com A close above the $4,480 and $4,500 levels could start a fresh increase in the near term. In the stated case, the price might rise towards the $4,650 level. Any more gains could lift the price towards the $4,800 zone in the near term. Dips Limited in ETH? If ethereum fails to start a fresh increase above the $4,500 level, it could extend its downside correction. An initial support on the downside is near the $4,420 level. The first key support is now forming near the $4,400 level. It is near the 50% Fib retracement level of the upward move from the $4,282 swing low to $4,506 high. A downside break below the $4,400 support zone could spark a sharp decline. In the stated case, the price is likely to revisit the $4,250 support zone and the 100 hourly simple moving average. 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 correcting lower towards the 50 level. Major Support Level – $4,400 Major Resistance Level – $4,500

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