Ethereum Price Recovery Gains Momentum Above $4,120
- Ethereum price has risen above the $4,120 mark and is trading above the 100-hourly Simple Moving Average.
- A key bullish trend line is forming with support at $4,150 on the hourly chart of ETH/USD.
- The first major resistance level for Ethereum is near $4,440, which aligns with the 76.4% Fib retracement level from a previous high of $4,758 to a low of $3,422.
- If Ethereum fails to break past the $4,300 resistance, it could decline toward initial support levels at $4,150 and potentially lower to $3,950.
Ethereum’s recent price movement shows a recovery wave above critical levels such as $4,000 and $4,120. This suggests potential continued upward momentum if it surpasses key resistance points like $4,320 and subsequently $4,400.
The current trajectory indicates that Ethereum might see further gains if it clears significant resistance barriers while maintaining support levels above crucial marks like $4,150. (Source)
