Ethereum Price Targets Key Resistance Levels Amid Recovery
- Ethereum price started a recovery wave above $4,150 and is now trading above the Ethereum $4,150 level and the 100-hourly Simple Moving Average.
- A bullish trend line with support at $4,100 is forming on the hourly chart of ETH/USD.
- The price could face resistance near $4,220 and $4,250 levels, with major resistance at $4,275.
- If Ethereum clears the $4,275 resistance, it might aim for gains towards the $4,320 level or even higher.
- Failure to clear the $4,250 resistance could lead to a decline toward support levels at $4,150 and potentially as low as $3,880.
Ethereum’s recovery above key levels indicates potential for further gains if it surpasses critical resistances like $4,220 and $4,275. The presence of a bullish trend line suggests underlying strength in its current trajectory.
Clearing these resistances could propel Ethereum towards higher targets around the $4,320 mark or beyond in upcoming sessions. Source
