Ethereum extended its price rally and traded above $ 4,000 to its all-time high against the US Dollar. According to the famous analyst Aayush Jindal, who made successful predictions, the Ethereum price shows many positive signs and is likely to rise above $ 4,200.
Ethereum pushed the price rally above $ 3,900 and surged to an all-time high near $ 4,134.
The price is currently trading well above $ 4,000 and the 100 hourly simple moving average.
There is a crucial bullish trend line formed on the hourly chart of ETH / USD (data flow via Kraken) with support near $ 3,920.
The pair is likely to continue rising towards the $ 4,150 and $ 4,200 resistance levels.
Ethereum is showing many positive signs! So what is happening in the market?
Ethereum price remained well supported above the $ 3,750 zone. The last low was formed around $ 3,722 before the ETH price started a new surge. Ether surpassed Bitcoin and broke the $ 3,900 resistance to start a new rally. It even broke above the $ 3,950 level and a bearish trend line connecting on the hourly chart.
The pair pushed the rally above $ 4,000 and climbed to an all-time high near $ 4,134. Ethereum price is currently trading well above $ 4,000 and the 100 hourly simple moving average. The current price action is very positive, with a sudden resistance at $ 4,150. This level is near the 1.236 Fib extension level of the bearish move.
What levels can Ethereum price see? Here are the goals
The first major resistance is near the $ 4,150 level, according to the analyst. It breaks the 1.618 Fib extension level of the downside from $ 3,985 to $ 3,722. Further gains could set the pace of a strong upward move towards the $ 4,200 and $ 4,250 levels in the near term. The next big stop for the bulls could likely be $ 4,500, according to the analyst.
If Ethereum price cannot continue to rise to $ 4,150, it could start a downside correction. The first downside support is near the $ 3,950 level, according to the analyst. The first major support is near the $ 3,920 level, according to the analyst. There is a very important bullish trend line formed with support near $ 3,920 on the hourly chart of ETH / USD. If there is a bearish break below the trend line, the pair could plunge towards the $ 3,800 support zone.
Current outlook of Ethereum price with technical indicators
Hourly MACD: The MACD for ETH / USD is now gaining momentum in the bullish zone.
Hourly RSI: The RSI for ETH / USD is well above the 60 level.
Major Support Level: $ 3,920.
Major Resistance Level: $ 4,150.