{"id":477682,"date":"2021-11-30T05:08:28","date_gmt":"2021-11-30T05:08:28","guid":{"rendered":"https:\/\/wncen.com\/?p=477682"},"modified":"2024-06-11T14:09:22","modified_gmt":"2024-06-11T14:09:22","slug":"ethereum-prints-bullish-pattern-4500","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-prints-bullish-pattern-4500\/","title":{"rendered":"Ethereum Prints Bullish Technical pattern, Why Close Above $4,500 Is Critical"},"content":{"rendered":"
Ethereum gained pace above the $4,350 resistance against the US Dollar. ETH could accelerate higher if there is a clear break above the $4,500 resistance zone.<\/em><\/p>\n Ethereum formed a base above the $4,350 level and started a fresh increase<\/a>. ETH broke the $4,400 level to move further into a bullish zone.<\/p>\n The price even tested the $4,500 zone and settled above the 100 hourly simple moving average<\/a>. A high is formed near $4,506 and is currently correcting lower. There was a break below the $4,450 support level. Ether price also dipped below the 23.6% Fib retracement level of the upward move from the $4,282 swing low to $4,506 high.<\/p>\n There is also a key rising channel forming with support near $4,400 on the hourly chart of ETH\/USD. An initial resistance on the upside is near the $4,480 level. The first major resistance is near the $4,500 level.<\/p>\n <\/a><\/p>\n A close above the $4,480 and $4,500 levels could start a fresh increase in the near term. In the stated case, the price might rise towards the $4,650 level. Any more gains could lift the price towards the $4,800 zone in the near term.<\/p>\n If ethereum fails to start a fresh increase above the $4,500 level, it could extend its downside correction. An initial support on the downside is near the $4,420 level.<\/p>\n The first key support is now forming near the $4,400 level. It is near the 50% Fib retracement level of the upward move from the $4,282 swing low to $4,506 high. A downside break below the $4,400 support zone could spark a sharp decline. In the stated case, the price is likely to revisit the $4,250 support zone and the 100 hourly simple moving average.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now correcting lower towards the 50 level.<\/p>\n Major Support Level \u2013 $4,400<\/p>\n Major Resistance Level \u2013 $4,500<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum gained pace above the $4,350 resistance against the US Dollar. ETH could accelerate higher if there is a clear break above the $4,500 resistance zone. Ethereum is trading in a bullish zone above the $4,350 level. The price is now well above $4,350 and the 100 hourly simple moving average. There is a key rising channel forming with support near $4,400 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue higher if it stays above the $4,350 support level in the near term. Ethereum Price Starts Fresh Increase Ethereum formed a base above the $4,350 level and started a fresh increase. ETH broke the $4,400 level to move further into a bullish zone. The price even tested the $4,500 zone and settled above the 100 hourly simple moving average. A high is formed near $4,506 and is currently correcting lower. There was a break below the $4,450 support level. Ether price also dipped below the 23.6% Fib retracement level of the upward move from the $4,282 swing low to $4,506 high. There is also a key rising channel forming with support near $4,400 on the hourly chart of ETH\/USD. An initial resistance on the upside is near the $4,480 level. The first major resistance is near the $4,500 level. Source: ETHUSD on TradingView.com A close above the $4,480 and $4,500 levels could start a fresh increase in the near term. In the stated case, the price might rise towards the $4,650 level. Any more gains could lift the price towards the $4,800 zone in the near term. Dips Limited in ETH? If ethereum fails to start a fresh increase above the $4,500 level, it could extend its downside correction. An initial support on the downside is near the $4,420 level. The first key support is now forming near the $4,400 level. It is near the 50% Fib retracement level of the upward move from the $4,282 swing low to $4,506 high. A downside break below the $4,400 support zone could spark a sharp decline. In the stated case, the price is likely to revisit the $4,250 support zone and the 100 hourly simple moving average. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now correcting lower towards the 50 level. Major Support Level \u2013 $4,400 Major Resistance Level \u2013 $4,500<\/p>\n","protected":false},"author":67,"featured_media":463156,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1946,8686,78803],"class_list":["post-477682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price Starts Fresh Increase<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in ETH?<\/h2>\n