{"id":478149,"date":"2021-12-06T05:18:45","date_gmt":"2021-12-06T05:18:45","guid":{"rendered":"https:\/\/wncen.com\/?p=478149"},"modified":"2024-06-11T14:09:33","modified_gmt":"2024-06-11T14:09:33","slug":"ethereum-lacks-momentum-above-4200-but-dips-likely-to-be-limited","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-lacks-momentum-above-4200-but-dips-likely-to-be-limited\/","title":{"rendered":"Ethereum Lacks Momentum Above $4,200, But Dips Likely To Be Limited"},"content":{"rendered":"
Ethereum is facing resistance near the $4,250 zone against the US Dollar. ETH must stay above $4,000 to start a steady increase in the near term.<\/em><\/p>\n Ethereum started a major decline after it broke the $4,250 support. ETH broke the $4,000 and $3,800 support levels. It traded as low as $3,327 and recently started an upside correction.<\/p>\n There was a break above the $3,800 and $4,000 resistance levels. Ether price even climbed above the 50% Fib retracement level of the recent drop from the $4,662 swing high to $3,327 low. However, it is still trading below $4,250 and the 100 hourly simple moving average<\/a>.<\/p>\n Besides, there is a key bullish trend line forming with support near $4,150 on the hourly chart of ETH\/USD. An initial resistance on the upside is near the $4,200 level. The first major resistance is near the $4,250 level.<\/p>\n The next major hurdle is near the $4,350 level. It is near the 76.4% Fib retracement level of the recent drop from the $4,662 swing high to $3,327 low.<\/p>\n <\/a><\/p>\n A clear move above the $4,250 and $4,350 levels could send the price further higher. The next major resistance is near the $4,500 level. Any more gains could lift the price towards the $4,650 resistance zone in the near term.<\/p>\n\n
Ethereum Price Recovers Losses<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Drop in ETH?<\/h2>\n