- Ethereum price breaks key resistance at $3,600, now testing $4,000, with $5,000 as the next potential target.
- Ethereum’s price holds strong at $2,000, $2,400, and $2,600 support levels, suggesting bullish momentum.
- Ethereum’s MACD shows strong uptrend, with RSI nearing overbought levels, indicating possible short-term correction.
Ethereum price has seen a strong upward movement, recently breaking through key resistance levels. With Ethereum now testing the $4,000 mark, many are wondering if the price will continue its bullish trend and reach $5,000. The price action suggests that Ethereum could be positioned for further gains in the near future.
Ethereum Price Pushes Toward $5,000 Amid Bullish Momentum
The price of Ethereum has been surging, and in recent times, it has broken several significant resistance points. With the recent price levels moving close to the $4,000 mark, traders are eyeing the $5,000 level as the next technical target.
The steady increasing highs and increasing lows would indicate that the bullish trend may persist, particularly when Ethereum surpasses the resistance at the $4 000 mark. The analyst IncomeSharks has said that sustained action above this can raise the price.
Source: IncomeShark/X
The price has indicated strength at critical supports, including the $2,000, the $2,400, and the $2,600. The levels have stood their ground during pullbacks and this has given assurance that the positive trend might continue. Any weakness and subsequent retracement above $3,600 might open up entry potential to traders as the price approaches the $4,000 resistance level.
Key Support and Resistance Levels for Ethereum Price
Ethereum is currently approaching the essential $4,000 resistance, and a breakdown may continue towards higher levels at $4,200-$5,000. The Moving Average Convergence Divergence (MACD) indicates a formidable bullish strength, but the Relative Strength Index (RSI) of 77.68 is in overbought territory, which indicates a possible herco-sale.
In case Ethereum drops below $ 4,000, the lower levels of support at $3,800 and $3,600 can be realized. Respective volumes should be monitored by traders, and a correction must be regarded.
Source: TradingView
Conversely, it is also worth noting the $2900 and the $3.6,000 supports. These regions have proved to be good purchasing power on the pullbacks. The price has the capacity of serving as a cushion in case the price falls back down to these points to enable Ethereum to restore its upward momentum. Tradeing above such support levels will be very key in terms of maintaining the momentum.
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