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NewsBTC 2021-11-25 05:38:12

TA: Ethereum Prints Bullish Pattern, Why ETH Could Revisit $4.5K

Ethereum is stable above the $4,250 pivot level against the US Dollar. ETH could accelerate higher if there is a clear break above the $4,350 resistance zone. Ethereum is trading in a bullish zone above the $4,200 level. The price is consolidating above $4,250 and the 100 hourly simple moving average. There was a break above a key contracting triangle with resistance near $4,270 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if there is a clear break above the $4,350 resistance zone. Ethereum Price Is Rising Ethereum formed a base above the $4,150 support level. ETH price started a steady recovery wave above the $4,200 resistance zone to move into short-term positive zone. The price was able to clear the 50% Fib retracement level of the downward move from the $4,386 swing high to $4,169 low. Besides, there was a break above a key contracting triangle with resistance near $4,270 on the hourly chart of ETH/USD. The pair is consolidating above $4,250 and the 100 hourly simple moving average. An initial resistance on the upside is near the $4,335 level. The 76.4% Fib retracement level of the downward move from the $4,386 swing high to $4,169 low is also near the $4,330 level. The first major resistance is near the $4,350 level. A close above the $4,330 and $4,350 levels could start a fresh increase in the near term. Source: ETHUSD on TradingView.com In the stated case, the price might r...

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