Ethereum Lacks Momentum Above $4,200, But Dips Likely To Be Limited

Name	Symbol	Market	Market Cap ($)	Algorithm
Rally	RLYUSD	Crypto	63,149,847	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Rally

RLYUSD

Crypto

63,149,847

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	0.0126	0.0001	5,000.00

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

0.0126

0.0001

5,000.00

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.0126	0.0126	0.0126	0.0126	0.001530 - 0.037990

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.0126

0.001530 - 0.037990

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	08:44:54	7,661.00	0.0111	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

08:44:54

7,661.00

0.0111

USD

Price x Volume	Volume	Base Symbol	Related Pairs
0.00000000	0.00000000	RLY	RLYEUR	RLYGBP	RLYBTC

Price x Volume

Volume

Base Symbol

Related Pairs

0.00000000

Ethereum Lacks Momentum Above $4,200, But Dips Likely To Be Limited

06/12/2021 5:18am

NEWSBTC

Ethereum is facing resistance near the $4,250 zone against the US Dollar. ETH must stay above $4,000 to start a steady increase in the near term. Ethereum started a recovery wave after a major drop below $4,000. The price is now trading below $4,250 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $4,150 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh rally if there is a clear break above $4,250 and the 100 hourly SMA. Ethereum Price Recovers Losses Ethereum started a major decline after it broke the $4,250 support. ETH broke the $4,000 and $3,800 support levels. It traded as low as $3,327 and recently started an upside correction. There was a break above the $3,800 and $4,000 resistance levels. Ether price even climbed above the 50% Fib retracement level of the recent drop from the $4,662 swing high to $3,327 low. However, it is still trading below $4,250 and the 100 hourly simple moving average. Besides, there is a key bullish trend line forming with support near $4,150 on the hourly chart of ETH/USD. An initial resistance on the upside is near the $4,200 level. The first major resistance is near the $4,250 level. The next major hurdle is near the $4,350 level. It is near the 76.4% Fib retracement level of the recent drop from the $4,662 swing high to $3,327 low. Source: ETHUSD on TradingView.com A clear move above the $4,250 and $4,350 levels could send the price further higher. The next major resistance is near the $4,500 level. Any more gains could lift the price towards the $4,650 resistance zone in the near term. Fresh Drop in ETH? If ethereum fails to start a fresh increase above the $4,250 level, it could start another decline. An initial support on the downside is near the $4,150 level and the trend line. A downside break below the $4,150 support zone might start a steady decline. In the stated case, the price may perhaps decline towards the $4,000 level. The next major breakdown support is $3,820, below which the price could decline towards $3,650. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now well above the 50 level. Major Support Level – $4,150 Major Resistance Level – $4,250

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