{"id":477799,"date":"2021-12-01T05:08:11","date_gmt":"2021-12-01T05:08:11","guid":{"rendered":"https:\/\/wncen.com\/?p=477799"},"modified":"2024-06-11T11:02:46","modified_gmt":"2024-06-11T11:02:46","slug":"ethereum-rallies-5k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-rallies-5k\/","title":{"rendered":"Ethereum Rallies 5%, Why ETH Could Surge To New ATH Above $5K"},"content":{"rendered":"
Ethereum gained pace above the $4,550 resistance against the US Dollar. ETH is trading above $4,700 and it could accelerate further higher in the near term.<\/em><\/p>\n Ethereum remained stable above the $4,500 level and started a fresh increase<\/a>. ETH broke the $4,600 level to move further into a bullish zone.<\/p>\n There was a clear break above the $4,650 level and the 100 hourly simple moving average<\/a>. Besides, there was a break above a major ascending channel with resistance near $4,560 on the hourly chart of ETH\/USD.<\/p>\n The pair climbed to a new multi-week high above the $4,700 level. It traded as high as $4,774 and is currently correcting lower. It is trading above the 23.6% Fib retracement level of the upward move from the $4,352 swing low to $4,774 high.<\/p>\n <\/a><\/p>\n An initial resistance on the upside is near the $4,775 level. The first major resistance is near the $4,800 level. A close above the $4,775 and $4,800 levels could start a fresh increase in the near term. In the stated case, the price might rise towards the $5,000 level. Any more gains could lift the price towards the $5,200 zone in the near term.<\/p>\n If ethereum fails to start a fresh increase above the $4,800 level, it could start a downside correction. An initial support on the downside is near the $4,675 level. The first key support is now forming near the $4,550 level.<\/p>\n It is near the 50% Fib retracement level of the upward move from the $4,352 swing low to $4,774 high. A downside break below the $4,550 support zone could p a sharp ush the price further lower. In the stated case, the price is likely to revisit the $4,400 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 60 level.<\/p>\n Major Support Level \u2013 $4,550<\/p>\n Major Resistance Level \u2013 $4,775<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum gained pace above the $4,550 resistance against the US Dollar. ETH is trading above $4,700 and it could accelerate further higher in the near term. Ethereum is trading in a bullish zone above the $4,550 level. The price is now well above $4,650 and the 100 hourly simple moving average. There was a break above a major ascending channel with resistance near $4,560 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue higher if it stays above the $4,650 support level in the near term. Ethereum Price Rallies Above $4,700 Ethereum remained stable above the $4,500 level and started a fresh increase. ETH broke the $4,600 level to move further into a bullish zone. There was a clear break above the $4,650 level and the 100 hourly simple moving average. Besides, there was a break above a major ascending channel with resistance near $4,560 on the hourly chart of ETH\/USD. The pair climbed to a new multi-week high above the $4,700 level. It traded as high as $4,774 and is currently correcting lower. It is trading above the 23.6% Fib retracement level of the upward move from the $4,352 swing low to $4,774 high. Source: ETHUSD on TradingView.com An initial resistance on the upside is near the $4,775 level. The first major resistance is near the $4,800 level. A close above the $4,775 and $4,800 levels could start a fresh increase in the near term. In the stated case, the price might rise towards the $5,000 level. Any more gains could lift the price towards the $5,200 zone in the near term. Dips Limited in ETH? If ethereum fails to start a fresh increase above the $4,800 level, it could start a downside correction. An initial support on the downside is near the $4,675 level. The first key support is now forming near the $4,550 level. It is near the 50% Fib retracement level of the upward move from the $4,352 swing low to $4,774 high. A downside break below the $4,550 support zone could p a sharp ush the price further lower. In the stated case, the price is likely to revisit the $4,400 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 60 level. Major Support Level \u2013 $4,550 Major Resistance Level \u2013 $4,775<\/p>\n","protected":false},"author":67,"featured_media":462852,"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-477799","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 Rallies Above $4,700<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in ETH?<\/h2>\n