Mr.Abrash

08/13 15:12

Ethereum Price Rises Again Ethereum price started

Ethereum Price Rises Again

Ethereum price started a new rally from the $4,150 support zone, bypassing Bitcoin. ETH price managed to break the $4,320 and $4,350 resistance levels.

The bulls even pushed the price above the $4,400 resistance zone. Finally, the price tested the $4,635 resistance zone. The high was formed at $4,634, and now the price is consolidating the gains above the 23.6% Fib retracement level of the upward move from the swing low of $4,171 to the high of $4,634.



Ethereum price is currently trading above $4,400 and the 100-hour simple moving average. There is also a bullish trend line forming on the hourly chart of ETH/USD with support at $4,400.

On the other hand, the price may face resistance near $4,620. The next key resistance is near $4,650.  The first major resistance is near the $4680 level. A clear break of the $4680 resistance could send the price towards the $4750 resistance.

A break of the $4750 resistance could lead to further gains in the coming sessions. In this case, Ethereum could rise to the $4800 resistance zone or even $4840 in the near term.

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