Are $ 4,000 in sight for ETH after a short-term correction?
Are $ 4,000 in sight for ETH after a short-term correction?
key support levels: $ 3,600
key resistance level: $ 3,900
In the past few days, Ethereum has consolidated after a correction after the latest rally, in which the price was rejected at the key resistance of USD 3,900. On Sunday the ETH almost fell on the above support of $ 3,600.From a technical point of view, it is unlikely that the price will try another thrust about the resistance until the bulls have a firm grip on the support area, which means that a more definitive test is possible. If this is the case, we could expect an outbreak of the important psychological and technical resistance area between $ 3,900 and $ 4,000 and joined the all -time high.
Technical indicators
volume: on Monday the volume rose. However, the bulls were unable to change momentum because they could not break the resistance. It is important to keep an eye on the volume as soon as the price approaches the important level of support. A strong demonstration of power at this time will be a good early signal for the course turn.
rsi: The RSI is declining on the four-hour time frame, so it is important to stay careful and to take care of a possible short-term return. In the daily time frame, such a price movement will be a temporary sweater that should recover quickly the next time it is upswing.
macd: The histogram of the MacD forms lower highs; This is bearish at short notice. As long as the sliding average of the MACD does not form a declining cross, the tendency for ETH remains bullish despite a declining histogram.
eth-bias
In the long term, the ETH bias remains very optimistic. Expect in the near future that the course will test the important level of support again. A good upswing at this level could drive ETH back to its all -time high.short-term price forecast for ETH price
The level of support of $ 3,600 remains a very tempting entry for bulls, and this must be confirmed by the price campaign as soon as it arrives there. The key resistance at $ 3,900 can push the ETH down until the bulls have the price firmly under control. This would mean an attempt to break through the current all -time high of $ 4,380.
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